Answer:
b) Income is allocated on a pro rata basis
Explanation:
A partnership is an agreement between two or more people to oversee a business and share in the profit and losses made by the business.
In a partnership when income comes in it is shared.on a pro rata basis.
This means income is given based on the level of ownership of the business.
For example a partner that has 60% ownership of the partnership is expected to collect 60% of the business income.
Pro rata is also called proportional rate.
Answer:
Safety Needs
Explanation:
If Helène, an industrial sales representative, bought a cellular phone to use if she ever had car trouble while traveling between appointments. The level of Maslow’s need hierarchy that Helène is addressing is Safety Needs
It would have been 'Esteem needs' if Helene was just buying a phone to be in the same class with her friends or she is changing her phone to reflect her class.
However Helene is buying this phone because she wants to keep appointments which falls in the category of employments and hence is a 'Safety need'.
Safety needs in Maslow's hierarchy has to do with the need for security and protection. If Helene's car breaks down, it could also be a threat to her security if she is unable to call for help
Answer:
John Inc.'s return on equity for this accounting period is:
B.
26.66 percent
Explanation:
Return or equity is a ratio used to calculate the efficiency of a certain business. It is calculated by dividing the net income on the stockholders' equity. Therefore, in our case, we translate this into 40 000 dollars divided into 150 000. Giving us a result of .26 %. Thus, the correct option is the B. option.
Answer and Explanation:
The journal entries are shown below
On Sept 1
Supplies Dr $1,020
To Cash $1,020
(being supplies purchased in cash)
On Sept 5
Dividend Dr $410
To cash $410
(being cash dividend is paid)
On Sept 7
cash Dr 5,500
To Unearned service revenue $5,500
(being cash collection is recorded)
On Sept 16
Cash Dr $770
To Account receivable $770
(being cash collection is recorded)
On Sept 22
Equipment Dr $3,000
To cash $1,100
To Note payable $1,900
(being equipment purchased is recorded)
