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777dan777 [17]
3 years ago
10

Partners a and b receive a salary of $30,000 and $60,000, respectively, and share income and losses in a 2:1 ratio, respectively

. if the partnership suffers a $30,000 net loss in 20x5, the entry to close the income or loss into their capital accounts is:
Business
1 answer:
fomenos3 years ago
8 0
<span>Answer:
   Partners a and b receive a salary of $30,000 and $60,000, respectively, and share income and losses in a 2:1 ratio, respectively. if the partnership suffers a $30,000 net loss in 20x5, the entry to close the income or loss into their capital accounts is:</span>
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The rate of economic growth per capita in France from 1996 to 2000 was 1.9% per year, while in Korea over the same period it was
jenyasd209 [6]

Answer and Explanation:

The rule of 72 refers the time period in which your investment which you invest should be doubled

So based on the rule of 72, the computation is shown below:

1. doubling time for France per capita real GDP is

= Rule of 72 ÷ rate

= 72 ÷ 1.9

= 37.89 years

2. Doubling time for Korea per capita real GDP is

= Rule of 72 ÷ rate

= 72 ÷ 4.2

= 17.14 years

3. France per capita real GDP in year 2045 is

= Per capita read GDP × (1 + growth rate)^time period

= $28,900 × 1.019^42

= $63,710.88

4. Korea  per capita real GDP in year 2045 is

= Per capita read GDP × (1 + growth rate)^time period

= $12,700 × 1.042^42

= $71,490.43

The time period 42 comes from

= 2045 - 2003

= 42 years

7 0
3 years ago
On January 1, 2021, Laramie Inc. acquired land for $6.2 million. Laramie paid $1.2 in cash and signed a 6% note requiring the co
stepladder [879]

Answer:

The amount Laramie should record the purchase of land is <u>$6.2 million</u>.

Explanation:

The costs of a fixed asset refer to the purchase price and other relevant costs which are incurred in order to the location and working condition required to operate the fixed asset in way that it is intended.

The other relevant costs that are added to the purchase price to arrive at the cost of the fixed assets include professional fees, non-refundable taxes or levies, and among others.

If any trade discount or rebate is given, this will be deducted from the purchase price to arrive at the cost.

Any interest required to be paid on the delayed payment in order to reflects the time value of money are not part of the cost of the asset but expensed in the year they are incurred.

From the question, the land acquired is a fixed asset. Based on the explanation above, the total cost of the asset is $6.2 million. The interest from the 6% interest rate on the remaining $5 million will be part of the cost of the land but it will be expensed in the year they are incurred.

Therefore, the amount Laramie should record the purchase of land is <u>$6.2 million</u>.

6 0
3 years ago
For the coming year, River Company estimates fixed costs at $109,000, the unit variable cost at $21, and the unit selling price
zzz [600]

Answer:

Instructions are below.

Explanation:

Giving the following information:

Fixed costs= $109,000

Unit variable cost= $21

Selling price= $85.

To calculate the break-even point in units, we need to use the following formula:

Break-even point in units= fixed costs/ contribution margin per unit

Break-even point in units= 109,000/ (85 - 21)

Break-even point in units= 1,703 units

Now, we need to include the desired profit:

Break-even point in units= (fixed costs + desired profit) / contribution margin per unit

Break-even point in units= (109,000 + 150,000) / 64

Break-even point in units= 4047 units

Sales= 500,000

Variable cost= 5,882*21= (123,522)

Contribution margin= 376,478

Fixed costs= (109,000)

Net operating income= $267,478

8 0
2 years ago
What part of the microcomputer is considered the "brain" that follows the instructions sent to it by software running on the com
WARRIOR [948]
The CPU is sometimes considered the "brain" of the computer
4 0
3 years ago
what is the term that refers to the functions used to move products through the channel to the consumer?
Readme [11.4K]

The term that refers to the functions used to move products through the channel to the customer is distribution

5 0
2 years ago
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