Name the one sport in which neither the spectators nor the participants know the score or

Ames and Barton are partners who share income in the ratio of 1:2 and have capital balances of $40,000 and $70,000, respectively

Naddik [55]

Answer:

d. $20,000

Explanation:

Loss on realization is shared by the partners in their profit sharing ratio. Upon termination of a partnership, all assets are realized and liabilities are paid off. The resultant surplus/deficit on realization is to be shared by the partners in their profit sharing ratio.

In the given case, partners are to be paid the balances standing to the credit of their capital accounts i.e total payment of $ 40,000 and $70,000 which is a total of $110,000

But the available cash balance being only $80,000.

Thus, the loss of $110,000 less $80,000 i.e $30,000 would be borne by the partners in their profit sharing ratio. The journal entry would be

Ames Capital A/C Dr.10,000

Barton's Capital A/C (2/3 of 30,000) Dr.20,000

To Loss on Realization A/C 30,000

(Being loss on realization account being borne by partners in their income sharing ratio of 1:2 recorded)

5 0

3 years ago

Kenzi kayaking a manufacturer of kayaks began operations this year. During this first year the company produced 1075 kayaks and

valina [46]

Answer:

<u>Income Statement for the Current Year under Variable Costing</u>

Sales (825 × $1,075) $886,875

Less Cost of Sales

Opening Stock $0

Add Cost of Goods Manufactured ( 1075 × $400) $430,000

Less Closing Inventory (250 × $400) ($100,000) ($330,000)

Contribution $556,875

Less Expenses :

Fixed Manufacturing Overheads ($107,500)

Selling and administrative expense : Variable ($75,000)

Selling and administrative expense : Fixed ($135,000)

Net Income / (Loss) $239,375

Explanation:

Under variable costing, only variable costs of production are included in cost of goods sold. Both the Non - Production and Fixed Production Costs are treated as Period Cost Expensed during the year.

7 0

3 years ago

6. After you determine the costs of doing the research, what should be your next decision?

Hunter-Best [27]

Answer:

After determining the costs of doing a research, it is possible to take on two different paths: to ask for public and/or private funding, and/or planning and/or outlining the development of the research.

Explanation:

To determine the costs of a research is one of the first steps researchers make, in order to prepare for how they are going to develop that and what will be necessary for doing so. The next step could be two different things: either to ask for public and/or private funding, in order to get the amount of money needed for development, and also for establishing a broad network with companies and institutions interested in the research; and/or to plan and/or outline the development of the research itself, having all major and specific aims outlined and structured with specific informations about who will be the agent of each action, what is the aim for each of them, how it is going to be developed in practice and real life, the studies and scientific networks liked to the research, the expected results with possible problems and solutions, the testing needed if any action takes a wrong or not expected turn, and the turning point of concluding the research tied to the aims achieved with their consequences for future researches.

3 0

3 years ago

A country's human capital increases a. if its workers become better educated or healthier. b. only if its workers become better

Sidana [21]

Answer:

Option (a) is correct.

Explanation:

Human capital refers to the capital that plays a vital role for improving a nation's productivity. Human capital includes health, education, experience, skills and training. If the workers of a country become more healthier and educated then as a result the output of that country increases because of higher productivity of the workers.

This will also increases the earning of the workers. If a worker is healthier then they will be able to give 100% percent at work and become regular to work.

Alternatively, if a worker has more skills and experience then this will increase the human capital of a nation.

5 0

3 years ago

Patty Corporation holds 75 percent of Slider Corporation's voting common stock, acquired at book value. The fair value of the no

Marina86 [1]

Answer:

1) d. $175,000

2) b. $156,250

Explanation:

1. The computation of net income for 20X9 under the treasury stock method is shown below:-

Net income for 20X9 under the treasury stock method = Janet Operating income + Slider operating income

= $100,000 + $75,000

= $175,000

2. The computation of income assigned to the controlling interest for 20X9 is shown below:-

income assigned to the controlling interest for 20X9 = Janet Operating income + (Slider operating income × Remaining percentage)

= $100,000 + ($75,000 × 75%)

= $100,000 + $56,250

= $156,250

Therefore we have applied the above formulas.

5 0

3 years ago