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krok68 [10]
3 years ago
11

Everett, Miguel, and Ramona are partners, sharing income 1:2:3. After selling all of the assets for cash, dividing losses on rea

lization, and paying liabilities, the balances in the capital accounts are as follows: Everett, $53,300 Cr.; Miguel, $46,200 Dr.; and Ramona, $39,800 Cr. How much cash is available for distribution to the partners?
Business
1 answer:
Evgen [1.6K]3 years ago
5 0

Answer:

$46,900 cash is available for distribution to the partners

Explanation:

The computation of the distribution of cash is shown below:

= Everett capital credit balance + Ramona capital credit balance - Miguel  capital credit balance

= $53,300 + $39,800 - $46,200

= $46,900

We simply added the credit balances and deduct the debit balance for calculation of the cash distribution to the partners

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Revenue on account amounted to $4,600. Cash collections of accounts receivable amounted to $2,750. Expenses for the period were
ASHA 777 [7]

Answer:

Net income = Revenue - Expenses

4600-2400=2200

4 0
2 years ago
Accountants truly represent the financial managers of a business. true false
Alex73 [517]
False. Accountants crunch the numbers and report to financial managers who make the decisions. 
7 0
3 years ago
The number of cases of merlot wine sold by the Connor Owen winery in an eight-year period is as follows:
Anna11 [10]

Answer:

The forecast for the year 2012 with an alpha value of 0.20 = 366.04.

Explanation:

The first step in order to solve this question/problem is to calculate or determine the Exponentially smoothed forecast for a period of time, t using the values of average demand for 2005 through 2007, that is to say;

Exponentially smoothed forecast for a period of time, t using the values of average demand for 2005 through 2007 = [actual sales in 2005 + actual sales in 2006 + actual sales in 2007]/ 3.

Therefore, Exponentially smoothed forecast for a period of time, t using the values of average demand for 2005 through 2007 =[ 281 + 367 + 409]/3 = 1057/3 = 352.3.

Since we are asked to use the smoothed value calculated as of the end of 2012. Use the average demand for 2005 through 2007 as your initial forecast for 2008, then, we have that for 2008 the forecast = 352.3.

Therefore, the forecast from the year 2009 through to the year 2012 can be calculated as given below;

The forecast for the year 2009 with an alpha value of 0.20 = 0.2 × 467 + [1 - 0.2] × 352.3 = 375.24.

The forecast for the year 2010 with an alpha value of 0.20 = 0.2 × 369 + [1 - 0.2] × 352.3 = 355.64.

The forecast for the year 2011 with an alpha value of 0.20 = 0.2 × 511 + [1 - 0.2] × 352.3 = 384.04.

The forecast for the year 2012 with an alpha value of 0.20 = 0.2 × 421 + [1 - 0.2] × 352.3 = 366.04.

3 0
4 years ago
Luke heads the human resource department at a technology development company. There, he monitors trends of the labor markets wit
olasank [31]

Answer:

The correct answer would be, This scenario illustrates Luke's competency in Critical Evaluation.

Explanation:

When you critically evaluate a situation or scenario, and then make suggestions for that, it is called as Critical Evaluation. In this question, Luke monitors the trends of labor market in the industry and realizes the need of employees who must be skilled in Robotics. He realizes that his company is going to need Skilled employees in Robotics. He gathers information about the best robotic training programs in the region where the company operates. He then searched for best schools who provide training on such programs. He is basically critically evaluating the need of his business in the coming months or years and he is planning for that in advance by looking at all options and selecting the best before the need becomes serious. So Luke is using his Critical Evaluation Competency in this situation.

4 0
3 years ago
The "over-the-counter" market received its name years ago because brokerage firms would hold inventories of stocks and then sell
Svetradugi [14.3K]

Answer:

false

Explanation:

Over-the-counter refers to the process of how securities are traded for companies not listed on a formal exchange. Securities that are traded over-the-counter are traded via a dealer network as opposed to on a centralized exchange.

5 0
3 years ago
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