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Goshia [24]
3 years ago
14

Cox, North, and Lee form a partnership. Cox contributes $201,000, North contributes $167,500, and Lee contributes $301,500. Thei

r partnership agreement calls for the income or loss division to be based on the ratio of capital invested. If the partnership reports income of $182,000 for its first year, what amount of income is credited to Lee's capital account
Business
1 answer:
Masteriza [31]3 years ago
3 0

Answer:

Lee's portion of income =$81, 900

Explanation:

<em>The income or loss would be shared according to the ratio of capital contributed. The ratio is the proportion of capital contribute per partner to the total pool of capital.</em>

Lee;s portion of income

= lees capital/total capital × reported income

= 301,500/(201,000+167,500+ 301,500)  × 182,000

= $81, 900

Lee's portion of income =$81, 900

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What is a regular savings account traditionally called?
Sphinxa [80]
A savings account is a savings account
4 0
3 years ago
A new faculty member at the local university pays $1,500 per month to rent an apartment in the downtown area. She teaches on cam
Naddik [55]

Answer:

$2,700

Explanation:

Calculation for what should this professor be willing to pay in rent per month

First step is to calculate the Transportation cost per week

Transportation cost = ($25*4 hrs)* 3 per week

Transportation cost =$100*3 per week

Transportation cost= 300 a week

Now let calculate the rent per month

Rent per month= $1500 + ($300*4)

Rent per month=$1,500+$1,200

Rent per month= $2,700

Therefore what should this professor be willing to pay in rent per month to live near campus if her hourly wage rate is $25 will be $2,700

3 0
3 years ago
Soriano Company had net sales of $300,000 for the month (after returns and allowances of $1,500 and sales discounts of $3,250).
Yanka [14]

Answer:

Ending Inventory  $ 64,000

Explanation:

To define the final inventory of the company it's necessary to find the cost of good of the period.  

As the company had a 43% of gross profit, it means that for every dollar of sales we have 0,43 dollar of Gross Profit, with this value is possible to know the total cost of the goods sold during the period, that it's the difference between Sales Revenue and Gross Profit.  

Total Sales Revenue had to be the net value after returns and discounts as it's detailed.  

Income Statement  

Sales revenue        $ 300,000  

Cost of goods sold  -$ 171,000  

Gross Profit            $ 129,000 43%

Beginning Inventory  $ 60,000

Purchases                  $ 175,000

Cost of goods sold  -$ 171,000

Ending Inventory    $ 64,000

7 0
3 years ago
Which of the following is a business plan most similar to? A pinball machine
pickupchik [31]

Answer:

C: A road map.

Explanation:

Business plans are mapped out just like road map. Pinball machines and dreams are not mapped out and wish lists are just collections of things that you want while a business plan is a plan of action.

Hope this helps!  :)

5 0
3 years ago
Swifty Corporation sells its product for $5600 per unit. Variable costs per unit are: manufacturing, $2800, and selling and admi
galben [10]

Answer:

Am nevoie de Puncte

Explanation:

6 0
3 years ago
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