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Komok [63]
3 years ago
10

Gary, Peter, and Chris and have capital balances of $26,000, $38,000, and $30,000, respectively. As per the partnership agreemen

t, Gary gets a profit share of 2/9; Peter gets 4/9; and Chris gets 3/9. The partnership agrees to pay $20,000 as the final settlement to Gary. How much bonus does Peter receive as a result of this transaction?
A) $3,429

B) $2,667

C) $2,571

D) $3,333
Business
1 answer:
ycow [4]3 years ago
6 0

Answer:

A) $3,429

Explanation:

Bonus capital paid by the new shareholders will be distributed among the Old Partner on the basis of their old sharing ratio

Capital Balance of Peter = $38,000

Settlement amount = $20,000

As we does not have revised profit ratios, Peter and Chris will share profit on their old ratios.

Remaining balance of Gary's capital = $26,000 - $20,000 = $6,000

Peter Share = 4/7 x $6,000 = $3,429

 

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Answer:

b. diminishing returns to specialization.

Explanation:

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If the same level of input is used it will result in reduction in output over time.

This is exemplified in this secanrio where it takes 10 units of resources to increase its output of sugar from 12 tons to 13 tons, but 11 units of resources to increase output from 13 tons to 14 tons, and 12 units of resources to increase output from 14 tons and 15 tons.

It takes more input to increase output by 1 ton

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3 years ago
Four ways by which your choice of reading material can affect your writing
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How Reading Affects Writing
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Grammar
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Vocabulary and Creativity
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7 0
3 years ago
The Chewbacca Starship Company had the following transactions during the month of December:
Naily [24]

Answer:

The Chewbacca Starship Company

T-accounts:

Cash

Date   Account Titles                 Debit        Credit

Dec. 1 Beginning balance      $73,500

Dec. 31 Salaries expense                        $57,000

Dec. 31 Accounts receivable 265,000

Dec. 31 Accounts payable                       210,000

Accounts receivable

Date   Account Titles           Debit        Credit

Dec. 1 Beginning balance   $60,000

Dec. 31 Sales revenue         154,000

Dec. 31 Cash                                     $265,000

Accounts payable

Date   Account Titles           Debit        Credit

Dec. 1 Beginning balance                  $39,000

Dec. 31 Inventory                               230,000

Dec. 31 Cash                    $210,000

Inventory

Date     Account Titles           Debit        Credit

Dec. 31 Accounts payable   $230,000

Sales revenue

Date     Account Titles           Debit        Credit

Dec. 31 Accounts receivable              $154,000

Salaries Expense

Date     Account Titles           Debit        Credit

Dec. 31 Cash                       $57,000

Explanation:

a) Data and Analysis:

a. Inventory $230,000 Accounts payable $230,000

b. Salaries expense $57,000 Cash $57,000

c. Accounts receivable $154,000 Sales revenue $154,000

d. Cash $365,000 Accounts receivable $265,000

e. Accounts payable $210,000 Cash $210,000

Opening balances:

Cash $73,500

Accounts receivable $60,000

Accounts payable $39,000

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Inga [223]
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maks197457 [2]
Answer:
B

Explanation:
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