1answer.
Ask question
Login Signup
Ask question
All categories
  • English
  • Mathematics
  • Social Studies
  • Business
  • History
  • Health
  • Geography
  • Biology
  • Physics
  • Chemistry
  • Computers and Technology
  • Arts
  • World Languages
  • Spanish
  • French
  • German
  • Advanced Placement (AP)
  • SAT
  • Medicine
  • Law
  • Engineering
daser333 [38]
1 year ago
12

After all assets are sold and liabilities are settled, the partnership of Bina and Niren is liquidated. Capital balances are $30

,000 for Bina and $20,000 for Niren. Cash distributed is $50,000. The transaction to record the distribution of cash to Bina will include a (debit/credit) to Bina, Capital in the amount of $ .
Business
1 answer:
mihalych1998 [28]1 year ago
3 0

After all assets are sold and liabilities are settled, the partnership of Bina and Niren is liquidated. Capital balances are $30,000 for Bina and $20,000 for Niren. Cash distributed is $50,000. The transaction to record the distribution of cash to Bina will include a (debit/credit) to Bina, Capital in the amount of $ .<u>debit; $30,000 ( When the partnership is liquidated, the capital balances will be debited to reduce them to zero)</u>

<h3>What is Capital balances?</h3>

In international macroeconomics, the capital account is the portion of the balance of payments that keeps track of all transactions between entities in one country and entities in other countries. These exchanges involve the import and export of commodities, services, capital, as well as transfer payments like remittances and international aid. A capital account and a current account make up the balance of payments, while a more specific definition subdivides the capital account into a financial account and a capital account. The current account monitors the country's net revenue, whereas the capital account tracks changes in national ownership of assets.

The capital account in accounting displays the net worth of a company at a particular point in time.

To learn more about the Capital balances from the given link:

brainly.com/question/25765264

#SPJ4

You might be interested in
In this statement, which type of spending is President
sineoko [7]

<u>Answer: </u>Option 2 discretionary

<u>Explanation:</u>

Spending can be mandatory spending or discretionary spending. Mandatory spending means the spending on essentials goods such as food. Discretionary spending means the spending on recreation and entertainment where people have additional money in hand after meeting their necessary expenses.

In this speech Obama speaks about the non essential expenses when they are controlled more investments can be made. He says when all the departments cut down their discretionary expenses then can result in economic growth.

7 0
3 years ago
Read 2 more answers
On October 1, 2018, Swifty Company places a new asset into service. The cost of the asset is $125000 with an estimated 5-year li
Novosadov [1.4K]

Answer:

The book value of the plant asset on the December 31, 2018 is $75,000.

Explanation:

<u>Determine the depreciable cost,</u>

The depreciable cost = Acquisition cost - Salvage value.

The depreciable cost = 125,000 - 30,500.

The depreciable cost = $94,500.

<u>Determine the annual depreciation expense,</u>

The annual depreciation expense = depreciable cost/useful life

The annual depreciation expense = 94,000/5

The annual depreciation expense = $18,900.

<u>Find the % rate of depreciation .</u>

The % rate of depreciation = (18,900/94,500) × 100.

% rate of depreciation = 20%

Since it is the double-declining-balance method of depreciation we multiply the % rate by 2 =  20% × 2 = 40%

<u>Applying the rate to the carrying value of  the asset to obtain current year's depreciation expense.</u>

Current year's depreciation expense = Carrying value of  the asset × the depreciation rate %.

Current year's depreciation expense = 125,000 × 40%.

Current year's depreciation expense = $75,000

<u />

4 0
3 years ago
Estimate the cost of expanding a planned new clinic by 25,000 ft2. The appropriate capacity exponent is 0.62, and the budget est
jeka57 [31]

Answer:

cost of expansion  = $1389859.55

Explanation:

Given data:

Original size = 185,000 ft^2

New expansion = 25000 ft^2

capacity component  = 0.62

total cost for original size of clinic is = $17 million

Size of new clinic = 185,000 + 25,000 = 210,000 ft^2

cost of new clinic=  17,000,000 \times [\frac{size\ of\ new\ clinic}{185,000}]^{0.62}

cost of new clinic =17,000,000 \times [\frac{210,000}{185,000}]^{0.62}

cost of new clinic = $18,389,859.56

cost of expansion = cost of 210,000 ft^2  -  cost of 185,000 ft^2

                               = 18,389,859.56- 17,000,000

cost of expansion  = $1389859.55

4 0
3 years ago
B. if winston had kracker's number of days' sales in inventory, how much additional cash flow would have been generated from the
zloy xaker [14]
<span>If winston only needed to hold 35.7 days of inventory than it would only need an average inventory per year of 3378.29 (Avg inv/avg COGS = avg daily inventory held which is 3378.29/94.6 = 35.7). It currently holds 4025 inventory on average throughout the year so it's holding 647 million dollars of inventory more than it would if it lowered its ratio to 35.7.</span>
8 0
3 years ago
Consider the demand for Russian rublesRussian rubles in exchange for British poundsBritish pounds. Which of the following will n
e-lub [12.9K]

Answer: A. Currency traders who believe that the value of the ruble in the future will be less than its value today.

Explanation:

In the foreign exchange market, currencies are traded at different prices. From the options given in the question, the correct option is option A (Currency traders who believe that the value of the rubleruble in the future will be less than its value today).

When the currency traders believe that the value of the rubel is going to depreciate in the future, they will start selling the rubels and this will lead to a decrease in the demand for it because it will depreciate. Here, the supply will increase but the demand will reduce.

6 0
3 years ago
Other questions:
  • According to the text, there are four different aspects of a decision that a business should evaluate in order to___ maximize pr
    12·1 answer
  • The pension plan for GL Inc. requires a contribution to the plan administrator equal to 11% of employee salaries. Salaries were
    6·1 answer
  • _____ is defined as the preference given to protected group members in hiring and promotion over more qualified or more experien
    12·1 answer
  • 10. HHH Inc. reported $12,500 of sales and $7,025 of operating costs (including depreciation). The company had $18,750 of invest
    14·1 answer
  • Which of the following is TRUE?​ a. ​All of the above b. ​Attending and listening are the ways in which you communicate empathy.
    9·1 answer
  • if you argue for increasing the dues for your social club in order to keep the club solvent, even though some of the members mig
    14·1 answer
  • Who at Universal Studios hates FORBIDEN JURNY?
    9·1 answer
  • River corp's total assets at the end of last year were $480,000 and its net income was $32,750. what was its return on total ass
    6·1 answer
  • 100 PIONTS PLZ Answer
    11·1 answer
  • Factory Overhead Cost Variances Thomas Textiles Corporation began November with a budget for 37,000 hours of production in the W
    12·1 answer
Add answer
Login
Not registered? Fast signup
Signup
Login Signup
Ask question!