Answer:
Lee's portion of income =$81, 900
Explanation:
<em>The income or loss would be shared according to the ratio of capital contributed. The ratio is the proportion of capital contribute per partner to the total pool of capital.</em>
Lee;s portion of income
= lees capital/total capital × reported income
= 301,500/(201,000+167,500+ 301,500) × 182,000
= $81, 900
Lee's portion of income =$81, 900
Answer:
Explanation:
Debit cards typically pull funds from a checking account, while credit cards charge purchases using a line of credit. With a debit card, you're spending money from your own funds. Use a credit card and you're borrowing the money and eventually will have to pay it back to the card issuer, perhaps including interest.
Answer:
(c) 10,500 equivalent units of production
Explanation:
Equivalent units of production helps manufacturing companies determine the average completed or finished products. Additionally, since there are many items in continuous production, without calculation of equivalent units, it would be difficult to determine how much money was incurred in production costs.
Using the formula
The number of partially completed units (15,000) x percentage of completion (70%) = equivalent units of production (10, 500)
Answer:
$60,000
Explanation:
Double declining method is a depreciation method used to expense the cost of an asset.
Depreciation expense using the double declining method = Depreciation factor × cost of asset
Deprecation factor = 2 (1/useful life) = 2(1/8) = 1/4
Depreciation expense in 2016 = 0.25 × $320,000 = $80,000
Net book value = $320,000, - $80,000 = $240,000
Deprecation expense in 2017 = 0.25 x $240,000 = $60,000
I hope my answer helps you
Answer:
responsibiltes collabration cooperation
Explanation: