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1 year ago

A common type of partnership that involves a managing partner and a financial partner is known as a(n):________

1 answer:

7 0

A general partnership is a partnership when all partners share in the profits, managerial responsibilities, and liability for debts equally.

<h3>What is general partnership?</h3>

A general partnership, the most basic type of partnership under common law, is an organization of people or an unincorporated company that has the following major characteristics: Agreement, proof of existence, and estoppel must all be used to create it.

Two conditions must be met in order to form a general partnership: The company must have at least two owners. All partners must agree to accept unlimited personal responsibility for any debts or legal liabilities incurred by the partnership.

Unless otherwise stated in the agreement, all partners in a general partnership have equal standing and the authority to participate in the management of the business. When a decision must be made, each partner is usually given one equal vote.

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Presented below are three receivables transactions. Indicate whether these receivables are reported as accounts receivable, note

tatuchka [14]

Answer:

1. Accounts receivable

2. Notes receivable

3. Other receivable

Explanation:

Sold merchandise on account for $64,000 to a customer - Accounts receivable. Since the merchandise is sold on credit to a customer, the same is recorded in the current assets of the balance sheet as accounts receivable.

Received a promissory note of $57,000 for services performed - Notes receivable. Since the promissory note is received for service performed which we term as a note receivable. This also come under the current assets of the balance sheet

Advanced $10,000 to an employee - Other receivables - As an advance is given to an employee neither is an account receivable nor it notes receivable. So, it is term as an other receivable

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3 years ago

How much does a construction foreman make in a start up company in Illinois

Whitepunk [10]

the average pay for a Construction Foreman in Chicago, IL is $32.17 /hr

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3 years ago

A stock has an expected return of 13. 24 percent, the risk-free rate is 4. 4 percent, and the market risk premium is 8. 98 perce

ipn [44]

A stock has an expected return of 13. 24 percent, the risk-free rate is 4. 4 percent, and the market risk premium is 8. 98 percent. 0.75 is the stock's beta.

Calculate the beta for stock using the CAPM approach as follows:

Cost of common stock = Risk-free rate + Beta × Market risk premium

13% 7% + Beta x8%

13% 7% Beta × 8%

6% = Beta x8%

6% 8% Beta = =

=0.75

Therefore, the beta for stock using the CAPM approach is 0.75.

Market risk is the potential for loss to individuals or other companies as a result of factors that affect the overall performance of an investment in financial markets.

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2 years ago

A store that advertises a buy-one-get-one-free sale is

zepelin [54]

Answer:

sales promotions

Explanation:

Sales promotions are the steps taken to increase the purchase of the products by adding an incentive to the customers. Buy-one-get-one-free is one of the sales promotions. Here two products are sold in the cost of one. The customer is provided with the benefit of getting two products by giving the amount of one. It is the promotions in which quantity plays a crucial role.

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3 years ago

Read 2 more answers

assume that monty completed the office and warehouse building on december 31, 2020, as planned at a total cost of $7,280,000, an

Eva8 [605]

Answer:

AI = $1,424,864

Hence, the avoidable interest for the Monty's project is $1,424,864.

Explanation:

Note: This question is incomplete and lacks necessary data to answer this question. But I have found similar question on the internet and will be using its data in this question to answer for the sack of concept and understanding. Thank you!

Data Given:

Total Cost = $7,280,000

Weighted-Average amount = $5,040,000

We need to compute the avoidable interest on this project.

Data Missing:

Construction loan amount = $2,800,000

Construction loan Interest Rate = 12%

Construction loan Time period = Semi-Annually.

Construction loan Issued = 31 Dec, 2019

Short-term loan amount = $1,960,000

Short-term loan interest 10%

Short-term loan Time period = Monthly payable

Short-term loan Maturity period = 30 May, 2021

Long-term loan amount = $1,400,000

Long-term loan interest rate = 11%

Long-term loan Time period = Annually on 1st January

Long-term loan Principal Payable = 1 Jan, 2024

Solution:

Now, this question is complete and can be solved.

First of all, we need to calculate the general borrowings in construction of the building.

Let X be the general borrowings in construction of the building.

Let Y be Weighted average

Let Z be the Construction for whole year

Where, Y = $5,040,000

Z = $2,800,000

So,

X = Y - Z

X = $5,040,000 - $2,800,000

X = $2,240,000 (This is the general borrowings)

Now, we have to calculate the weighted average interest rate in order to calculate the avoidable interest on this project.

Weighted average interest rate = (Short term loan interest rate x short term loan amount divided by Sum of total loan including short and long) + (long term load interest rate x long term loan amount divided by the sum of total loan)

Let A be the Weighted average interest rate.

So,

A = (10 * $1,960,000/($1,960,000 + $1,400,0000) + ($11% * $1,400,000/($1,960,000 + $1,400,0000) )

A = 48.61%

Now, we just have to put in the values to find out the avoidable interest.

Let Avoidable interest = AI

AI = ($2,800,000 x 0.12) + ($2,240,000 x 0.4861)

AI = $1,424,864

Hence, the avoidable interest for the Monty's project is $1,424,864.

7 0

3 years ago