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artcher [175]
1 year ago
13

wilson brothers partnership has the following income and expense items: gross receipts $500,000 cancellation of debt 15,000 roya

lties 40,000 employee benefit programs 20,000 retirement plans 100,000 cost of goods sold 200,000 what is the nonseparately stated ordinary business income of the partnership?
Business
1 answer:
Basile [38]1 year ago
3 0

In a partnership, the parties often referred to as business partners agree to cooperate in order to further their common goals. Partners in a partnership might include people, businesses, interest-based organizations, schools, governments, or combinations of these.

What is partnership:

A partnership is a sort of business where two or more people sign a legal agreement to share ownership, split management responsibilities, and split the organization's revenues and losses.

In order to operate as a business, a general partnership needs at least two owners. Each partner in this partnership is equally able to speak on behalf of the company. Each partner has the power to carry out business activities, make choices, and manage the company. Assets, responsibilities, and liabilities are shared and distributed fairly.

Includes all partners in this partnership, whether general and limited. Limited partners have less sway over the company than the general partner, who has unrestricted responsibility and governs both the company and the other limited partners (limited to his investment). They are not involved in the business' routine activities.

The mutual agency requirement, according to which each partner must act as both a principle and an agent for himself and the other partners, is the most crucial component of a partnership. It states that one or more of the partners must conduct business.

Learn more about Partnership:

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What evaluation criteria is used in economic analysis?a. Time to completion b. Technical feasibility c. Sustainability d. Financ
Ilia_Sergeevich [38]

Answer:

The evaluation criteria used in economic analysis is:

d. Financial units (dollars or other currency)

Explanation:

The evaluation criteria for economic analysis is usually based on financial units, which are national currencies.  They represent the monetary values of the elements of any economic analysis.  For instance, to ascertain the profitability or otherwise of a transaction, the sales value is compared to the costs.  The excess of the sales value over the costs is regarded as the profit.  The reverse is regarded as the loss.  The evaluation criteria for these two economic analysis is based on the financial units of sales and costs expressed as national currencies.

7 0
3 years ago
Quantitative Problem 1: Assume today is December 31, 2017. Barrington Industries expects that its 2018 after-tax operating incom
ziro4ka [17]

Answer:

$29.630

Explanation:

For computation of stock price first we need to follow some steps which is shown below:-

Free cash flow = EBIT (1 - T) + Depreciation - Capital expenditure - Working capital

= $450 million + $65 million - $110 million - $30 million

=  $375 million

Value of firm = Free cash flow ÷ (WACC - Growth)

= $375 million ÷ (9% - 4.5%)

= $375 million ÷ 0.045

= $8,333.33 million

Value of equity = Value of firm - Value of debt

= $8,333.33 million - $3,000 million

= $5,333.33 million

Stock price = Value of equity ÷ Outstanding shares

= $5,333.33 million ÷ 180 million

= $29.630

3 0
3 years ago
Budgeted financial statements are financial statements based on budgeted amounts rather than actual amounts.
Tasya [4]

Answer:

The statement is True.

Explanation:

Budgeted financial statements are prepared for a future period of time. So that it is easy to anticipate certain fixed and variable costs and allocate financial resources to them.

Also, Budgeted financial statement are useful during the strategic planning process and planning on future business expansions.

3 0
2 years ago
If the structural unemployment rate is 3%, the frictional unemployment rate is 2%, and the cyclical unemployment rate is 4%, the
Damm [24]

Answer:

False

Explanation:

In this scenario, the natural rate of unemployment would be 5% = 3% of frictional unemployment plus 2% of cyclical unemployment. The other type of unemployment that is part of the natural rate is not referenced in the question (surplus unemployment).

Cyclical unemployment is not added up because it is not part of natural unemployment.

In fact, what natural unemployment basically is, is unemployment that does not depend on business cycle, that is not cyclical. In that sense, cyclical unemployment is totally the opposite to natural unemployment, and you only reach a rate of natural unemployment, when cyclical unemployment is eliminated in a healthy economy.

5 0
3 years ago
During the second year of the equipment’s life, $21,900 cash is paid for a new component expected to increase the equipment’s pr
Alona [7]

Answer:

   S/N              ACCOUNT                                 DEBIT                  CREDIT

      1             Equipment                                   $22,000

                        Cash                                                                     $22,000  

                    Being payment for new component expected to increase the

                    equipment’s productivity by 10% a year

      2.           Equipment Repairs expenses      $6,250

                       Cash                                                                          $6,250

                    Being payment for equipment repair

     3.            Equipment                                       $14,870

                       Cash                                                                          $14,870

                    Being payment for equipment repair to prolong the useful life

                    the asset

Explanation:

The initial cost incurred in acquiring an asset is debited to asset account, subsequently every other cost spent on the assets are either expenses against the earning of that period or expensed over many years over the useful life of the asset.

Capitalization is the recognition of an expense as an asset in the balance sheet rather than expenses in the income statement.

The payment of $22,000 paid for the equipment productivity must be capitalized, that is added to the cost of the asset because it is a cost that is  expected to increase the equipment’s productivity by 10% a year.

The  $6,250  paid for normal repair is a revenue items which is to be expensed against the earning of that period.

The $14,870 paid for repairs which will increase the useful life of the equipment from four to five years is a capital expenditure which should capitalized, that is added to the cost of the asset.

7 0
3 years ago
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