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amm1812
2 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]2 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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Answer:

$45,000

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Given the above information, the account balance on February 1 is computed below;

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2 years ago
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Number 4 bottom answer

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Imagine you are in the process of buying a new car. Give at least two examples of both qualitative and quantitative data that yo
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Answer: Qualitative data cannot be recorded numerically at the initial stage, but can be later converted into numerical data for statistical purposes.

Quantitative data is conclusive in summary, can be recorded numerically first hand.

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Quantitative data is conclusive in summary, can be recorded numerically first hand.

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2 years ago
On December 31 of the current year, the unadjusted trial balance of a company using the percent of receivables method to estimat
devlian [24]

The amount that should be debited to Bad Debts Expense, assuming 3% of outstanding accounts receivable at the end of the current year are estimated to be uncollectible is $1,913

<h3>What is bad debts expenses?</h3>

Bad debt are debts owned to a business which cannot be recovered. Here, the customer has chosen not to pay this amount.

Computation of amount to be debited to Bad Debts Expense:

=  Accounts Receivable, debit balance of $97,800 *  3% of outstanding accounts receivable at the end of the current year

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Learn more about bad debts expenses here : brainly.com/question/18568784

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