Answer:
The limited partner's remaining liability is $400,000
Explanation:
The remaining liability after the debt payment of $8,000,000 is $2,000,000 ($10,000,000-$8,000,000)
The limited partner has a 20% interest in the business that entitles the partner to 20% share of profit or liabilities.
The limited partner's share of the remaining liability is 20% of the liability balance i.e $400,000($2,000,000*20%)
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Answer:
$267,000
Explanation:
When a company assesses that some of its receivables (due from customers who bought goods on account/credit) may not be collectible, the required entries are debit bad debt expense and credit allowance for bad debt.
The credit to allowance for bad debt is netted off the debit in accounts receivables to determine the net receivables in the balance sheet at the end of the period.
Hence Craft will show on its year-end balance sheet a net realizable value of its accounts receivable
= $295,000 - $28,000
= $267,000
Answer:
here is answer
Explanation:
Factors that can shift the demand curve for goods and services, causing a different quantity to be demanded at any given price, include changes in tastes, population, income, prices of substitute or complement goods, and expectations about future conditions j prices.
