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frutty [35]
3 years ago
14

Alex, brad, and carl are partners. the profit and rule sharing rule between them is 4:3:3 in the alphabetical order. the partner

ship incurs a net loss of $100,000. before preparing the closing journal entry the:
Business
1 answer:
goblinko [34]3 years ago
6 0

If i understand your question properly, you want to determine how much each partner wiil have based on the sharing ratio.

Answer:

Alex- $40,000

Brad- $30,000

Carl- $30,000

Explanation:

For a net loss of $100,000 shared between partners in the ratio 4:3:3, the value of each partner's ratio can be calculated as seen below.

Step 1: Add the ratios

i.e; 4 + 3 + 3 = 10

Step 2: Calculate the value of each ratio in $100,000 using te formula

(ratio value ÷ total ratio) × $100,000

For Alex, we have

(4 ÷ 10) × $100,000

= 0.4 × $100,000

= $40,000

For Brad, we have

(3 ÷ 10) × $100,000

= 0.3 × $100,000

= $30,000

For Carl, we have

(3 ÷ 10) × $100,000

= 0.3 × $100,000

= $30,000

N.B: To confirm if the value of each ratio is correct, you can add up the values to see if it makes $100,000. If it doesn't, then the calculatio is wrong.

Adding the value of the ratios, we have $40,000 + $30,000 + $30,000 = $100,000.

i hope this helps

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Answer:

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(d) $72

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Explicit costs refers to the which are incurred during running the business and these costs affects the profitability of the company.

Implicit costs refers to the opportunity cost of selecting some other alternative.

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Answer:

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When the interest is compounded, it is calculated over the value of the investment at the end of the previous year. So, value at year 1 will be 1,000*(1+rate). At second, it will be 1,000*(1+rate)*(1+rate), or 1,000 * (1+rate)^2.

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