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amm1812
3 years ago
13

Assume that MargaretMargaret purchases a 1313​% partnership interest from DaronDaron on June 30 so that MargaretMargaret and Dar

onDaron each own 2525​% from that date through the end of the year. What are MargaretMargaret and DaronDaron​'s distributive shares for the current​ year
Business
1 answer:
7nadin3 [17]3 years ago
6 0

Answer:

Margaret's distributive share = 18.5%

Daron's distributive share = 31.5%

Explanation:

Each partner's distributive share of profits, losses, deductions, etc., is based on the partner's interest on the partnership throughout the year.

During the first half of the year:

  • Margaret's interest in the partnership = 12%
  • Daron's interest in the partnership = 38%

During the first half of the year:

  • Margaret's interest in the partnership = 25%
  • Daron's interest in the partnership = 25%

Margaret's distributive share = (12% x 0.5) + (25% x 0.5) = 6% + 12.5% = 18.5%

Daron's distributive share = (38% x 0.5) + (25% x 0.5) = 19% + 12.5% = 31.5%

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Schrute Farm Sales buys portable generators for $ 470 and sells them for $ 720 He pays a sales commission of​ 5% of sales revenu
tigry1 [53]

Answer:

The contribution margin statement is found below with a contribution margin of $149,800 and operating income of $145100

Explanation:

Contribution Margin Statement

Sales  revenue ($720*700)              $504000

Variable costs:

Cost of generators($470*700)         ($329000)

Commission(5%*$504000)              <u> ($25200)</u>

Contribution margin                           $149,800

Fixed costs

Rent                                                     ($3000)

Additional commission                      <u> ($1,700)</u>

Operating income                              $145100

Cost of rent is fixed as it is not depended on the quantity of generators sold.

Additional commission is fixed amount,so it is a fixed cost, while costs of buying generators  as well as the commission of 5% are both variable costs.

5 0
3 years ago
A negotiable certificate of deposit A. is a bearer instrument, meaning whoever holds the certificate at maturity receives the pr
lianna [129]

Answer: Option D                                                  

Explanation:  A Negotiable Deposit Certificate  refers to a $100,000 initial face value deposit contract. These are lent by a bank and therefore can typically be offered on a highly liquid resale market,although before completion of maturity period they can not be cashed in.

An NCD is brief-term, varying from two weeks and a year. Cost will be charged at completion or the unit will be bought at a discount over its face value. Rates of interest are trad-able, and an NCD's yielding depends on the circumstances of the stock market.

Thus, from the above we can conclude that the correct option is D.

8 0
3 years ago
Objectives of AllocationSamantha and Rashida are planning a trip to Padre Island, Texas, during spring break. Members of the var
enot [183]

Answer:

Increase in Motel cost = $10 per night for additional bed * 4 day = $10 * 4 = $40

Additional food cost = $150

Therefore, total cost of including Kallie for the trip is $40 + $150 = $190

1. Incremental Analysis

                                        Without K     With K    Incremental cost

Motel cost                         $580           $620            $40

Food                                  $300           $450            $150

Gas in total                        <u>$120</u>            <u>$120 </u>            <u>   -    </u>

Total Incremental cost     <u>$1,000</u>        <u>$1,190</u>          <u>$190</u>

It would cost $190 for Kallie to accompany along

2. Cost to Kallie using benefits received method

Particulars                            Amount

Motel ($580 + 40)/3             $206.67

Food                                      $150

Gas ($120/3)                          <u>$40        </u>

Total                                       <u>$396.67</u>

Thus, cost to Kallie using benefits received method would be $396.67.

3 0
2 years ago
On the demand side of GDP, consumption by _____________ is the largest component of GDP, accounting for about two-thirds of the
Tpy6a [65]

Answer:

The correct answer is <em>households.</em>

Explanation:

The final consumption expenditure of households (formerly private consumption) is the market value of all goods and services, including durable products (such as cars, washing machines and personal computers), purchased by households. Home purchases are excluded, but includes the imputed income of the homes occupied by their owners. It also includes the amounts and fees paid to governments to obtain permits and licenses. In this case, household consumption expenditure includes the expenses of nonprofit institutions that provide services to households, even when the country reports them separately. This item also includes any statistical discrepancy in the use of resources in relation to the supply of resources.

5 0
3 years ago
Relix, Inc., is a domestic corporation with the following balance sheet for book and tax purposes at the end of the year before
zhenek [66]

Answer:

($3,528)

Explanation:

Calculation to determine Relix's net deferred tax asset or net deferred tax liability at year end.

Beginning of the Year Current year difference End of Year

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($57,000) ($13,000) ($70,000)

($57,000-$70,000=-$13,000)

Furniture and fixtures-Accumulated Depriciation ($4,200) ($3,800) ($8,000)

($4,200-$8,000=$3,800)

Subtotal ($61,200) ($16,800) ($78,000)

($57,000+$4,200=$61,200)

($13,000+$3,800=$16,800)

($70,000+$8,000=$78,000)

Applicable tax rate 21% 21% 21%

Gross deferred tax liability

($12,852) ($16,380)

(21%*$61,200=$12,852)

(21%*$78,000=$16,380)

Change in deferred tax liability ($3,528)

(21%*$16,380)

Therefore net deferred tax liability at year end is ($3,528)

7 0
2 years ago
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