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BARSIC [14]
3 years ago
10

Frank and Jesse are operating as a general partnership. A question has arisen that is not covered under their partnership agreem

ent and also not addressed by the Revised Uniform Partnership Act. What will the courts do to resolve the situation
Business
1 answer:
m_a_m_a [10]3 years ago
4 0

Answer:

The answer is:

The court will look to common law.

Explanation:

Common law is defined as a body of legal rules that are made by judges as they issue rulings on cases, as against rules and laws made by the legislature or in official statutes. it's also the a part of English law that's derived from custom and judicial precedent instead of statutes.

Another name for common law is case law

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In the picture, what are assets, liabilities and equity in the balance sheet?
Tamiku [17]

Answer:

Assets =  $66,974

Liabilities = $0

Equity = $66,974

Explanation:

Assets

Assets are resources that are controlled by the business, which generate economic benefits.

Total Assets = Non-Current Assets + Current Assets

where,

<u>Non-Current Assets :</u>

Office Equipment                        $ 10,000

Computer Equipment                 $20,000

Total Non-Current Assets           $30,000

<u>Current Assets :</u>

Cash                                             $15,000

Accounts receivable                    $12,882

Computer supplies                        $2,545

Prepaid insurance                        $3,220

Prepaid rent                                  $3.300

Total Current Assets                   $36,947

Total Assets                                 $66,974

Liabilities

Liabilities are present obligations of the business that result in outflow of economic resources.

Total Liabilities = Non-Current Liabilities + Current Liabilities  

where,

Non-Current Liabilities = $0

Current Liabilities         = $0

Total Liabilities             = $0

Equity

Is the residue of what is left when Liabilities are deducted from the Assets

Total Equity = Total Assets - Total Liabilities

                    = $66,974 - $0

                    = $66,974

7 0
4 years ago
Porches, Inc. sells lawn furniture. Selected financial information for the most recent year is as​ follows:Beginning merchandise
Hatshy [7]

Answer:

The operating income for the​ year is $97,000

Explanation:

For computing the operating income, first, we have to calculate the cost of goods sold. The formula to compute the cost of good sold is shown below:

= Beginning merchandise inventory + Purchases during the year - Ending merchandise inventory

= $33,200 + $92,000 - $35,000

= $90,200

Now, the operating income would be

= Sales - the cost of good sold - selling and administrative expenses

= $262,900 - $90,200 - $75,700

= $97,000

6 0
4 years ago
___ is any direct to a consumer or business recipient that is designed to generate a response in the form of an order, a request
Nady [450]

Answer: D.) Direct marketing (happy to help)

Explanation:

3 0
3 years ago
Read 2 more answers
Terrell has an employer-sponsored 401(k) plan that he contributes to, and his employer matches 25% of his 401(k) contributions.
Elza [17]
The answer is 6250 buddy.

You're welcome
-From Hockey
8 0
3 years ago
Read 2 more answers
econ One year a country has negative net exports. The next year it still has negative net exports and imports have risen more th
Vesnalui [34]

Answer:

its trade deficit rose

Explanation:

Trade deficit occurs when the imports of a country are higher than the exports. It is called the trade deficit. It means the country is importing more value of goods from other countries and exporting less. When Imports grows higher than the growth in exports, the trade deficit eventually rises.

8 0
3 years ago
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