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
Ivenika [448]
3 years ago
8

Steve Queen and Chelsy Stevens formed a partnership, dividing income as follows: Annual salary allowance to Stevens of $117,150.

Interest of 6% on each partner's capital balance on January 1. Any remaining net income divided to Queen and Stevens, 1:2. Queen and Stevens had $75,000 and $105,000, respectively, in their January 1 capital balances. Net income for the year was $213,000. How much is distributed to Queen and Stevens?\
Business
1 answer:
Dmitriy789 [7]3 years ago
5 0

Answer:

Queen $32,850

Stevens $180,150

Explanation:

                                             Queen        Stevens           Net Income

                                                                                      available (distributed)

Net Income                                                                          $213,000

Interest on Capital (6%)       $4,500         $6,300              <u>($10,800)</u>

                                                                                             $202,200

Salary Allowance                                      $117,150             <u>($117,150)</u>

                                                                                              $85,050

Remaining $85,050            $28,350        $56,700           ($65,050)

(in ratio 1:2)

Total Net Income                $32,850         $180,150              ($0)

distributed

You might be interested in
Consider the following data that identifies real gross domestic product (GDP) in comparison to the long-run trend of real GDP to
Helga [31]

Answer:

Between quarter 7 and 8

Explanation:

To calculate the recession lets consider the quarter 7 and 8.

GDP in quarter 7 =$4499 Billion

GDP in quarter 8 =$4409 Billion

Growth rate of GDP in these two quarters= 4409-4499/4499*100

= -2 percent

Recession happens when the GDP decreases

8 0
3 years ago
Listed below are some provisions that are often contained in bond indentures. Which of these provisions, viewed alone, would ten
monitta

Answer:

2. A given bond is subordinated to other classes of debt.

Explanation:A bond Indenture is a legally approved contract between a bond holder(the buyer of the bond) and a bond issuer(the original owner of the bond,who sold it to the bond holder).

Subordinated bond is also known as junior Securities or subordinated debt are bonds that are lower in rank compared to other bonds,a subordinated bond holder is only paid when other senior bond have been completely paid out.

4 0
3 years ago
Chester's balance sheet has $105,027,000 in equity. Next year they expect Assets to increase by $4,000,000 and Liabilities to de
Murljashka [212]

Answer:

107,027,000 is the total book value

Explanation:

So, you would start by adding 105,027,000 to 4,000,000 that gives you 109,027,000. Then you would subtract 109,027,000 and 2,000,000 that gives you 107,027,000

Therefore your answer will be 107,027,000

6 0
3 years ago
Why is it so important that managers, and people in general, should act ethically and temper their pursuit of self-interest by c
kari74 [83]

Explanation:

A leader has an essential role in an organization, through his conduct his subordinates are encouraged, motivated and can become more or less productive.

Therefore, ethical conduct is essential for managers and all people who make up an organization, as ethics and behaviors for the benefit of the community will make the work environment more positive and an organizational culture focused on development, good attitudes and collaboration, essential elements for the creation of value in an organization, for the good positioning in the internal and external environment and for the motivation and satisfaction of the employees.

5 0
3 years ago
Joslyn completed the lease term on her car and decided to turn the car in instead of purchasing it. upon inspection, the dealers
Fed [463]
Its the Lease Penalty
6 0
3 years ago
Read 2 more answers
Other questions:
  • What is the difference between a hands-off manager and a hands-on manager?
    11·2 answers
  • Each pound of American blend coffee requires 12 ounces of Colombian beans and 4 ounces of Dominican beans, while a pound of Brit
    6·1 answer
  • Demand-pull inflation is caused by: An increase in aggregate supply. An increase in resource costs as an economy's production ca
    8·1 answer
  • In 2010, Tara used $50,000.00 from funds she had invested in certificates of deposit as a down payment to buy a house. What func
    10·1 answer
  • If Ben invests $3500 at 4% interest per year, how much additional money must he invest at 5 1 2 % annual interest to ensure that
    6·1 answer
  • Suppose that the federal government places a binding price floor on chocolate. To help support the price floor, the government p
    11·1 answer
  • On January 22, Zentric Corporation issued for cash 342,000 shares of no-par common stock at $20. On February 14, Zentric issued
    15·1 answer
  • How do banks make money off of the credit they issue
    15·1 answer
  • I don’t know this…..
    6·1 answer
  • If workers in one part of the labor market unionize, then all else equal, we would expect the wages of unionized workers to ____
    9·1 answer
Add answer
Login
Not registered? Fast signup
Signup
Login Signup
Ask question!