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Leya [2.2K]
3 years ago
11

Dione is a general partner who owns 50% interest in Love First Enterprises. Sammy is a limited partner who also owns 50%. The pa

rtnership has $50,000 in recourse liabilities and $20,000 in nonrecourse liabilities. What is Dione's total share of liabilities?a. $35,000
b. $45,000
c. $60,000
d. $70,000
Business
1 answer:
tigry1 [53]3 years ago
8 0

Answer:

c. $60,000

Explanation:

The computation of the total share of liabilities is shown below:

= Recourse liabilities + half of the non-recourse liabilities

= $50,000 + $10,000

= $60,000

Since Sammy is a limited partner so he should not be entitled to the recourse liabilities and the 50% is the partnership interest so half of the amount is allocated to the non-recourse liabilities

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Gilbert Company purchased $40,000 of goods in July and expects to purchase $60,000 of goods in August. Gilbert typically pays fo
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Answer:

Gilbert Company's total expected cash disbursements for purchases in the month of August are $45,000.

Explanation:

In August the 75% of July purchases payments and 25 % of August purchases Payments will bedisbursed.

Cash Disbursement of August

August Payment = $15,000

July Payment = $30,000

Total Disbursement = $15,000 + $30,000

Total Disbursement = $45,000

Working:

July payment = $40,000 x 75% = $30,000

August Payment = $60,000 x 25% = $15,000

5 0
4 years ago
A certain firm produces and sells staplers. Last year, it produced 7,000 staplers and sold each stapler for $6. In producing the
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Answer:

$6.43

Explanation:

The computation of the average total cost is shown below:

= Total cost  ÷ Quantity produced

= $45,0000 ÷ 7,000 staplers

= $6.43

By dividing the total cost i.e $45,000 from the quantity produced i.e 7,000 staplers we can get the average total cost and the same is to be shown above.

And, the rest of the items should be ignored as it is not relevant to the current given situation

 

4 0
4 years ago
At the beginning of 2020, the company purchased a machine that had a cost of $300,000, an
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Well it is the toltal of the cost that will be created by it did it and got it correct
3 0
3 years ago
Bean​ Brewers, Inc., a manufacturer of coffee​ makers, had the following​ activities, allocated​ costs, and allocation​ bases: A
aivan3 [116]

Answer: B. $438

Explanation:

Correspondence Cost = Number of letters * Predetermined cost of correspondence  

Predetermined cost of correspondence = Allocated cost/ Allocated base

= 14,000/1,600 letters

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Northeast Office used 50 letters for correspondence.

Cost = 8.75 * 50

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4 0
3 years ago
A lawyer cannot represent both the plaintiff and the defendant because of
adelina 88 [10]

Answer:

a Conflict of Interest Issue

Explanation:

In many countries, including the USA, the legal system is built on an adversarial process. Each of the conflicting parties is allowed the chance to argue their case as persuasively as possible. It means each side independent representation to defend their rights.

In the adversarial process, a lawyer must be loyal to their client to represent them effectively. It is practically impossible to be loyal to two clients on opposite sides of a court proceeding. Conflicts of interest will arise as the same lawyer cannot argue for and against the issue in the same court.

6 0
3 years ago
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