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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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FedEx

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Credit is generally defined as an agreement between a lender and a borrower. Credit also refers to the creditworthiness or credit history of an individual or entity. In accounting, loans can reduce assets or increase liabilities, and can reduce expenses or increase income.

In personal banking or financial accounting, a credit is an entry indicating that money has been received. Normally, a checking account register has the balance (deposits) on the right and the debits (money spent) on the left. In a loan, all the requested amount is given at once at the time of lending, whereas in a loan, the bank uses the full amount of the loan to give the customer an amount that can be used as needed.

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7 0
1 year ago
In a market economy, a. the allocation of scarce resources determines prices and prices, in turn, determine supply and demand. b
user100 [1]

Answer:

<h2>In a market economy,the impact of supply and demand determines the prices of goods and services which in sequence influence the allocation of economy's scarce resources.Hence,the correct answer wold be option b.</h2><h2 />

Explanation:

In a market economy,much of the economic and commercial activities such as production,investment,allocation,consumption of goods and services are governed by their market prices which are determined completely by the free forces of supply and demand in the economy.In a market economic system,the factors or inputs of production are owned and allocated by the independent or private business organisations or firms with limited government or state control over the means of production.Majority of the commodity and service markets are free of any external state or government intervention and operate freely based on the movements and fluctuations of the market prices of goods and services which are determined by the changes in market demand or supply.Therefore,economic allocation or arrangements of goods and services in a market economy is mostly determined by the free interaction of demand and supply

4 0
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Butoxors [25]

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A

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<h3>What is product mix?</h3>

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Thus, Risk retention is good for the company as the good has the better strategies

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I 'm not sure but the answer might be A.

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