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2 years ago

When a partnership is liquidated, how is the final distribution of partnership cash made to the partners?

1 answer:

4 0

According to the profit and loss the partnership is liquidated, and the final distribution of partnership cash is made to the partners.

When a partnership is liquidated, how is the final distribution of partnership cash made to the partners? Which of the subsequent statements is actually concerning the accounting for a partnership going via liquidation? within a liquidation, all gains and losses are divided equally among some of the partners.

The partnership comes to a decision to liquidate, the property of the partnership is sold, liabilities are paid off, and any remaining coins are sent to the companions according to their capital account balances.

Liquidating distributions (coins or noncash) are a form of a return of capital. Any liquidating distribution you receive isn't always taxable to you until you recover the basis of your inventory. After the idea of your stock is reduced to zero, you ought to document the liquidating distribution as a capital advantage.

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Kelly and Tim Browne plan to refinance their mortgage to obtain a lower interest rate. The Browns will reduce their mortgage pay

shtirl [24]

Answer:

16.9 months

Explanation:

Recovery time = Refinancing cost / Monthly savings

= $2,500 / $148

= 16.9 months

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3 years ago

Rosman Company has an opportunity to pursue a capital budgeting project with a five-year time horizon. After careful study, Rosm

vovangra [49]

Answer

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3 years ago

Categories of manufacturing costs include ______. Multiple select question. direct labor manufacturing overhead direct materials

Luda [366]

Firms do create goods. Categories of manufacturing costs include direct labor, direct materials and manufacturing overhead.

<h3>What are manufacturing costs?</h3>

Manufacturing costs is grouped into materials, labor, and overhead. They are kinds of direct costs.

Manufacturing cost is known to be the amount of costs of all resources taken into the process of creating a product. The manufacturing cost is grouped into three categories called: direct materials cost, direct labor cost and manufacturing overhead.

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2 years ago

The desired reserve ratio is 10 percent of deposits, and the currency drain ratio is 1 percent of deposits.

Flauer [41]

Answer:

Quantity of money changes by $50,000,000

Explanation:

Desired reserve ratio = 10% = 0.1

Currency drain ratio = 1% = 0.01

Money multiplier = (1+0.1) / (0.1+0.01) = 1.1/ 0.11 = 10

Value of securities purchased = $5 million

Change in quantity of money :

$5 million * 10 = $50 million

Currency created : currency drain ratio * change in quantity of money

0.01 * $50,000,000 = $500,000

Amount of bank deposit = quantity change - currency created

= $50,000,000 - $500,000 = $4,500,000

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3 years ago

Is it possible for a country with a regressive tax system to have a tax-spending system that transfers resources from the rich t

lara31 [8.8K]

Answer:A

Explanation:

A regressive tax is a tax impose in such a manner that the tax rate decreases as the amount subject to taxation increases.

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3 years ago