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
worty [1.4K]
3 years ago
12

Lopez, Cruz, and Perez are partners and share net income and loss in a 7:3:1 ratio (in ratio form: Lopez, 7/11; Cruz, 3/11; and

Perez, 1/11). On December 31, Perez withdraws from the partnership when the equities of the partners are: Lopez, $3,100; Cruz, $1,900; and Perez, $1,300. Prepare journal entries to record Perez’s withdrawal under each separate situation: Perez is paid for her equity using partnership cash of (1) $1,300; (2) $1,750; and (3) $750.
Business
1 answer:
Debora [2.8K]3 years ago
3 0

Answer:

31 Dec

Dr Perez capital 1300

Cr Cash 1300

31 Dec

Dr Perez Capital 1300

Dr Lopez Capital 315

Dr Cruz Capital 135

Cr Cash 1750

31 Dec

Dr Perez Capital 1300

Dr Lopez Capital 385

Dr Cruz Capital 165

Cr Cash 750

Explanation:

31 Dec

Dr Perez capital 1300

Cr Cash 1300

31 Dec

Dr Perez Capital 1300

Dr Lopez Capital (1750-1300/10×7)315

Dr Cruz Capital (1750-1300/10×3) 135

Cr Cash 1750

31 Dec

Dr Perez Capital 1300

Dr Lopez Capital (1300-750/10×7)385

Dr Cruz Capital (1300-750/10×3) 165

Cr Cash 750

You might be interested in
As the owner of La Boulangerie Bakery in Baton Rouge, Louisiana, you have a devoted clientele savoring your delicacies. Your sal
Mice21 [21]

Answer:

La Boulangerie Bakery,

Baton Rouge,

Louisiana, U.S.A

25th April, 2021

Dear esteemed customers,

I bring to you an unpalatable news about the changes that would be initiated in our business approach to our customers.

As you can bear witness to, there has been a drastic increase in the cost of doing business in our industry with the notable changes being in the wheat used in producing our confectioneries, the sugar as well as the rising cost of transportation to various customers' locations.

Taking this into account, our company decided to introduce a flat rate delivery cost of $20 irrespective of the location of our customers. This would help us to minimize our production cost. Inorder to also consider our customers, there is a free 20 pieces cake (box) offered to every customer who buys 50 box of each product. This means, 50 box of cupcakes earns you one box free, 100 box cupcake purchase earns you 2 free boxes.

I do hope you would understand our challenges as a company and bear with us regarding to this delivery charge introduction.

Sincerely,

Maris Albert (For the company)

Explanation:

3 0
3 years ago
Spielberg Inc. signed a $170,000 noninterest-bearing note due in five years from a production company eager to do business. Comp
GaryK [48]

Answer:

$100,890

Explanation:

To determine the value of the debt we must calculate the present value of the note:

present value = future value of the note / (1 + interest rate)⁵

present value = $170,000 / (1 + 11%)⁵ = $170,000 / 1.11⁵ = $170,000 / 1.685

present value = $100,890

7 0
3 years ago
A government bond issued in France has a coupon rate of 5% (paid annually) and a face value of 100 euros, and it matures in 5 ye
Nina [5.8K]

Answer:

Bond Price​= 106.77

Explanation:

Giving the following information:

Face value= 100

Coupon= 100*0.05= 5

Yield To Maturity= 0.035

Years to maturity= 5 years

<u>To calculate the price of the bond, we need to use the following formula:</u>

Bond Price​= cupon*{[1 - (1+i)^-n] / i} + [face value/(1+i)^n]

Bond Price​= 5*{[1 - (1.035^-5)] / 0.035} + [100/(1.035^5)]

Bond Price​= 22.57 + 84.2

Bond Price​= 106.77

8 0
3 years ago
Picozzi Snow Removal's cost formula for its vehicle operating cost is $2,060 per month plus $306 per snow-day. For the month of
ArbitrLikvidat [17]

Answer:

Planning budget=$6,956

Explanation:

<em>The planning budget is that which is based on the expected level of activity. It is the original budget used for planning purpose</em> .

The planning budget for Picozzi would based on the planned activity level of 16 snow-day

The operation cost formula = 2,060 + $306 per snow-day

Planning budget  = 2,060 + (306×16)=$6,956

Planning budget=$6,956

7 0
2 years ago
Joel Foster is the portfolio manager of the SF Fund, a $3 million hedge fund that contains the following stocks. The required ra
Cerrena [4.2K]

Answer:

Stock A at an amount of $1075000 at beta of 1.2

Stock B at an amount of $675000 at Beta of 0.5

Stock C at an amount of $750000 at beta of 1.4

Stock D at an amount of $500000 at beta of 0.75

5 0
3 years ago
Other questions:
  • An opinion polling firm based in Austin, TX wants to allow its phone survey specialists to use company laptops and networks to c
    12·1 answer
  • The government announced that last year it spent $589 million in mandatory outlays and $416 million in discretionary outlays. It
    6·1 answer
  • How is a change in the quantity demanded illustrated on the demand curve?
    11·1 answer
  • How should a person cope with situational factor for which there are ethical confident skills?
    13·1 answer
  • A benefit of earning an hourly wage instead of a salary is
    7·2 answers
  • Smarty Pants Company sells two products, green camouflage pants and orange camouflage pants. Smarty Pants predicts that it will
    11·1 answer
  • Ayesha is a strategist for the firm Optiks Inc., which produces high-quality HD movie cameras. This company needs a specific mat
    5·1 answer
  • Which of the following is true? In a one-shot game, a collusive strategy always represents a Nash equilibrium. A subgame perfect
    14·1 answer
  • What are wholesalers​
    13·2 answers
  • Price Reading Quiz QUESTION 3 of 10: is the total revenue of a business less all expenses over a period of time. Oa) Profit O b)
    14·1 answer
Add answer
Login
Not registered? Fast signup
Signup
Login Signup
Ask question!