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crimeas [40]
3 years ago
6

J. Gladwin has a capital balance of $106,000 and R. Selleck has a capital balance of $94,000 in their partnership as of Septembe

r 30. On October 1, Gladwin sells one-half of her partnership interest to R. Dennis for $60,000 cash. Selleck agrees to accept Dennis as a new partner. Prepare the October 1 journal entry for the partnership.
Business
1 answer:
Nadusha1986 [10]3 years ago
5 0

Answer:

J. Gladwin has a capital balance = $106,000

R. Selleck has a capital balance = $94,000

The Journal entry is as follows:

On October 1,

J. Gladwin Capital A/c Dr. $53,000

To R. , Capital $53,000

(To record admission of R.)

Working Notes:

J. Gladwin Capital:

= Capital balance of J. Gladwin ÷ 2

= $106,000 ÷ 2

= $53,000

Therefore, the J. Gladwin capital is $53,000.

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3. You have $100 to invest. The price of XYZ stock is $100. You sell short one share of XYZ and then invest all available funds
tigry1 [53]

Answer:

HPR = holding period Return is 20%

Explanation:

  • Given original Investment = $100
  • Short sale proceeds for 1 share = $100
  • Investment made of $100 + short sale proceeds of $100 at 5% YTM.
  • So Maturity Value = Investment x (1+YTM)^number of years  
  • = 200 x (1 + 0.05)^1 = 210  

 

  • Therefore, In order to cover Short sale of 1 share, we will have to buy 1 share at a closing value of $90  
  • As such, holding period Return = (Investment proceeds from ZCB - Buying price of stock - Investment amount) / Investment Amount  
  • = (210 - 90 - 100) / 100 = 0.2 or 20%  

 

  • Hence, HPR = holding period Return is 20%  
5 0
3 years ago
The Chinese political environment is very:
VikaD [51]

Answer:

Strict about it's people and not a lot of people own cars. I thinks that's China or that's North Korea. In not sure

3 0
3 years ago
Wages salaries expense is equal towhat?
Sergio039 [100]
Accounts such as Wages and Salaries Expense, Wages Expense, and Salaries Expense are used to record the gross wages and salaries earned by employees during the accounting period. Gross wages and salaries means the amount before payroll taxes and other with holdings. 
hope this helps
6 0
3 years ago
Debra, Fang, and Raj were on a team at their engineering company. Though Debra had the most experience of the three, she did not
kumpel [21]

Answer:

C) shared leadership

Explanation:

i found these option

A) lateral   B) authentic   C) shared   D) bridge   E) intergroup

so correct answer is shared  because Shared leadership is often team-oriented with work, as leadership can drive an individual with significant knowledge, skills and abilities to the problem facing the team at a particular time. Shared leadership is critical when tasks are interdependent, complex, and require creativity.

7 0
2 years ago
A company is offering to pay a stadium for naming rights. If the administrative costs for this sponsorship are $78,000, and thes
docker41 [41]

Answer:

The amount of $71,760  , is offered by the company for the stadium naming rights.

Explanation:

As the total cost for the sponsorship is $78,000 but the cost has 8% revenue for the naming sponsorship. Therefore,

= Amount × % of revenue

= $78,000 × 8%

= $6,240

In order to compute the amount which is offered to pay for the stadium rights, the revenue amount to be deducted from the administrative cost:

= Cost - Revenue

= $78,000 - $6,240

= $71,760

6 0
3 years ago
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