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rodikova [14]
3 years ago
9

​David, Chris and John formed a partnership on July​ 31, 2019. They decided to share profits​ equally, but inserted a clause in

the partnership agreement where any losses would be allocated in the ratio of ​:​:​, respectively. For the year ended December​ 31, 2019, the firm earned a net income of . ​However, for the year ended December​ 31, 2020, the firm incurred a loss of . Assuming that John had an initial capital contribution of and made no​ withdrawals, what is the balance of​ John's Capital account as of December​ 31, 2020?​ (Assume that none of the partners made any further contributions to their capital accounts. Do not round any percentage calculations. Round all monetary calculations to the nearest​ dollar.)
Business
1 answer:
MA_775_DIABLO [31]3 years ago
3 0

Answer:

$37,833

Explanation:

Calculation for the balance of John's Capital account as of December 31, 2020.

Using this formula

Balance as of December 31, 2020= Initial contribution + Profit for December 31, 2019 - Loss for December 31, 2020

Let plug in the formula

Balance as of December 31, 2020= $39,000 + ( $46,000/3) - ( $55,000/10×3)

Balance as of December 31, 2020= $39,000 + $15,333 - $16,500

Balance as of December 31, 2020= $37,833

Therefore the balance of John's Capital account as of December 31, 2020 will be $37,833

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Qualitative data describe a quality or characteristic. Collected through questionnaires, interviews, or observations, they are often presented in the form of narratives. For example, notes made during a focus group on Cafe Mac food quality, or responses to public surveys.

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4 0
1 year ago
Which of the following statements is CORRECT? a. If an investor buys enough stocks, he or she can, through diversification, elim
Len [333]

Answer:

C. A security's beta measures its non-diversifiable, or market, risk relative to that of an average stock.

8 0
3 years ago
In the North, if the price goes down by $0.40 per pound, then the quantity supplied in the North goes down by 600 pounds per yea
Mumz [18]

Answer:

If the price of peaches goes down by $0.40 in the South, the quantity will decrease by 600 pounds per year.

Explanation:

  • As given that the decrease in price by $0.40 per pound then the quantity in the North goes down by 600 pounds per years so from here we have understand that if the same prices goes down in the South, then the same decrease in pounds per year will occur i.e decrease in price by $0.40 per pound will result in the decrease in the quantity by 600 pounds per year.

6 0
3 years ago
The records of Norton, Inc. show the following for July. Standard labor-hours allowed per unit of output 1.2 Standard variable o
ruslelena [56]

Answer:

Direct labor rate variance = $162,000 U

Direct labor efficiency variance = $48,000 U

Variable overhead rate variance = $240,000 F

Variable overhead efficiency variance = $72,000 U

Explanation:

As per the data given in the question,

Direct labor efficiency variance = (Standard hour - Actual hour) × Standard rate

-$48,000 = (60,000 * 1.2 - 73,600) × Standard rate

Standard rate = -$48,000 ÷ -1,600

= 30

Direct labor rate variance = (Standard rate × Actual hour - Direct labor)

= (30 × 73,600 - $2,370,000)

= -$162,000

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Direct labor efficiency variance = $48,000 U

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= $240,000 F

Variable overhead efficiency variance = (72,000 - 73,600) × $45

= $72,000 U

3 0
3 years ago
Corporate Communications director Mark Schurman describes how Herman Miller employees are assigned to teams not necessarily high
beks73 [17]

Answer:

very few hierarchical levels

Explanation:

According to my research on different company organizational structures, I can say that based on the information provided within the question Herman Miller is most likely an organization that has​ very few hierarchical levels. This is since it is mentioned that the employees are placed in teams that are not higher or lower in rank from one another, but at the same time there is still a boss of the company. Therefore there are hierarchical levels but they are extremely few.

I hope this answered your question. If you have any more questions feel free to ask away at Brainly.

4 0
3 years ago
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