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GrogVix [38]
3 years ago
7

Design Services is organized as a limited partnership, with Miko Toori as one of its partners. Miko's capital account began the

year with a balance of $35,000. During the year, Miko's share of the partnership income was $7,500, and Miko received $4,000 in distributions from the partnership. What is Miko's partner return on equity
Business
1 answer:
sammy [17]3 years ago
7 0

Answer: 20.4%

Explanation:

The following information can be gotten from the question:

Beginning equity = $35,000

Ending equity = $35,000 + $7,500 - $4,000 = $38,500

Average equity = ($35,000 + $38,500)/2

= $73,500/2

= $36,750

Miko's partner return on equity will now be:

= $7,500/$36,750

= 0.2041

= 20.4%

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Adjectives are used to describe personality traits. True False
Vlada [557]

Adjectives can be used to describe personality traits (e.g. stern, funny, boring, etc.) but they're not exclusively for personality traits. You can be describing something else using adjectives.

But in this case, I'd say it's true.

6 0
3 years ago
Dextra Computing sells merchandise for $10,000 cash on September 30 (cost of merchandise is $8,000). Dextra collects 9% sales ta
sammy [17]

Answer:

1. Dr Cash $10,900

Cr Sales $10,000

Cr Sales Taxes Payable $900

2. Dr Cost of Goods Sold $8,000

Cr Merchandise Inventory $8,000

3. Dr Sales Taxes Payable $900

Cr Cash $900

Explanation:

1. Preparation of the journal entry to record the cash sale and 9% sales tax

Dr Cash $10,900

($10,000+$900)

Cr Sales $10,000

Cr Sales Taxes Payable $900

($10,000*9%)

(To Record the cash sale and 9% sales tax)

2. Preparation of the Journal entry to record the cost of September 30th sales

Dr Cost of Goods Sold $8,000

Cr Merchandise Inventory $8,000

(To Record the cost of September 30th sales)

Preparation of the journal entry to show Dextra sending the sales tax on this sale to the government on October 15

Dr Sales Taxes Payable $900

Cr Cash $900

($10,000*9%)

(Being the sales tax on the sale to the government on October 15)

3 0
2 years ago
On January 1, 2009, Diego owed $14,033 to his friend Ricardo, who was kind enough not to charge Diego any interest. Each month d
aleksandrvk [35]

Answer:

$481

Explanation:

Amount paid = Amount lent - Amount left

Amount paid = $14,033 - $8,261

Amount paid = $5,772

Average amount paid each month = Amount paid / Number of months

Average amount paid each month = $5,772 / 12

Average amount paid each month = $481

So, the average amount of Diego's monthly payments is $481.

6 0
2 years ago
Both country 1 and country 2 are located on their respective production possibilities frontiers (PPFs) for consumer goods and ca
nikdorinn [45]

Answer:

A) Country 1's PPF lies further to the right than country 2's PPF.

Explanation:

Production Possibility Curve shows the combination of two goods, that an economy can produce - by utilising given resources & technology best efficiently.

If country 1 produces twice the output of both goods compared to country 2. Then, country 1's PPF would lie further to the right than country 2's PPF.  As, more quantities implies rightward shifted PPC, signifying more quantities of goods that can be produced.

Efficient or inefficient production leads to production inside or on PPC, doesn't shift PPC. Population change is also irrelevant in this case.

7 0
2 years ago
Sandy paid 30 dollars for a blouse. Cleaning cost after each wear is about $0.50. Sandy thinks she can wear the blouse 50 times
andrezito [222]

Answer:

twice

Explanation:

3 0
2 years ago
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