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netineya [11]
2 years ago
15

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

Business
1 answer:
velikii [3]2 years ago
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.

Learn more about partnership Liquidating here:brainly.com/question/24131354

#SPJ4

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Define liquidity. Rank the following assets in terms of liquidity, from most to least liquid: money market mutual fund, savings
valina [46]

Answer:

Liquidity: amount of cash or cash equivalents and its primary feature of converting quickly into money without losing any of it current value.

1)_ Dollar bill

2)_ Saving account

3)_ Checking account

4)_ Gold bar

5)_ Corporate stock

6)_ Money market mutual fund

7)_ House

Explanation:

To begin with, the liquidity is the feature of those assets to converting the most quickly as possible in cash and therefore the the most liquid asset is properly the dollar bill and the less liquid asset is the house due to the fact that it could take years to sell by a proper offer and becoming actual cash. In conclusion, it works that way with all the other assets, the liquidity of each one is higher or lower depending on the quickness of converting into cash.

3 0
2 years ago
Exhibit 9-1 Refer to Exhibit 9-1. If the economy is self-regulating, the price level is:_________.
victus00 [196]

Answer: b) lower in long-run equilibrium than in short-run equilibrium.

Explanation:

A self regulating economy will try to move to the long run Equilibrium.

From the graph attached you will notice that the Price Level at the point where the Long Run Curve intersects with the Aggregate Demand curve is lower than the point where the Short Run Supply curve intersects with the same Aggregate Supply.

This means that Prices in the long term at equilibrium will be less than prices in the short term at Equilibrium should the Economy be a self regulating type that will move towards a long term Equilibrium.

5 0
3 years ago
Ahmed, a lawyer, sold his car to Carlos. Has an implied warranty of merchantability been created by this transaction? No, becaus
GuDViN [60]

Answer:

A.  No, because Ahmed is not a merchant.

Explanation:

Implied warranty of merchantability is a law in contract which states that when there is a transaction between a seller (the merchant), and a buyer, there is an unwritten guarantee from the seller, that the product meets up to the ordinary standards of care. This means that the goods must be fit to do what the merchant says it will do.  Therefore, if the seller finds it defective, he could return it to the seller. and if the seller refuses to make a change, a legal case could be established. The merchant by law is a wholesaler or retailer, who sells goods in which he has expertise or special skills.

Ahmed in the question could be argued in court to not be a merchant of cars and as such, has no expertise with which he can make a guarantee for the car being sold to Carlos.

5 0
3 years ago
Zappos.com constantly reminds customers of recently viewed items and informs them when stock is low in an effort to entice the c
nirvana33 [79]

I guess the correct answer is conversion rate.

Zappos.com constantly reminds customers of recently viewed items and informs them when stock is low in effort to entice the customer to make a purchase. Zappos is trying to improve its conversion rate.

4 0
3 years ago
Support Department Cost Allocation-Direct Method Charlie's Wood Works produces wood products (e.g., cabinets, tables, picture fr
aivan3 [116]

Answer:

a. 56%

b. 62%

Explanation:

a. Janitorial costs are allocated based on square feet.

Assembly Department Square feet = 42,560

Total area for both departments = 42,560 + 33,440 = $76,000

Percentage of costs

= 42,560/ 76,000

= 56%

b. Security costs are allocated based on asset value.

Cutting Department Asset Value = $126,480

Total asset value for both departments = 77,520 + 126,480 = $204,000

Percentage of costs

= 126,480/ 204,000

= 62%

8 0
3 years ago
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