1answer.
Ask question
Login Signup
Ask question
All categories
  • English
  • Mathematics
  • Social Studies
  • Business
  • History
  • Health
  • Geography
  • Biology
  • Physics
  • Chemistry
  • Computers and Technology
  • Arts
  • World Languages
  • Spanish
  • French
  • German
  • Advanced Placement (AP)
  • SAT
  • Medicine
  • Law
  • Engineering
TiliK225 [7]
4 years ago
13

Mutt and Jeff formed a partnership on April 1 and contributed the following assets:Mutt JeffCash $ 150,000 $ 50,000 Land 310,000

The land was subject to a $30,000 mortgage, which the partnership assumed. Under the partnership agreement, Mutt and Jeff share profit and loss in the ratio of one-third and two-thirds, respectively. Jeff's capital account at April 1 should beA)$360,000.B)$330,000.C)$300,000.D)$340,000.
Business
1 answer:
gladu [14]4 years ago
8 0

Answer:

B)$330,000

Explanation:

Jeff contribute

cash 50,000

land 310,000

with a mortgage of 30,000

Total contribution

assets      360,000

liabilities    (30,000)

<u>total          330,000</u>

<u></u>

The entry to record the land will be:

Land 310,000

                    Mortgage payable       30,000

                    Jeff Capital Account 280,000

The land is recorded, the parthnership assumes the mortage and the remainder goes into Jeff Capital Account.

You might be interested in
Hasbro, Inc., the trademark owner of "Candy Land," sought a court injunction to prevent Internet Entertainment Group, LTD from u
Ivahew [28]

Hasbro, Inc., the trademark owner of "Candy Land," sought a court injunction to prevent Internet Entertainment Group, LTD from using the domain name, "candy land". A jury will decide whether Hasbro is entitled to this remedy is FALSE.

Option B

<u>Explanation:</u>

A form of intellectual property composed of a distinctive symbol, design or expression that distinguishes products or services of a specific source from everyone else, while marks used it to distinguish services are generally referred to as product marks is understood as a "trademark".

Trademark law regulates a manufacturer or merchant's use of a tool (including a name, expression, emblem, product shape or logo) to define its products and differentiate those goods from those made or sold by someone else.

3 0
4 years ago
Hilton is a staunch opponent of the Scrum transition in the team. He thinks Scrum is a fad that will pass and makes his opinion
Svet_ta [14]

Answer:

Reinforce and reiterate the organization's commitment to scrum

Explanation:

The best way to deal with Hilton as in the above case is to reinforce and reiterate the organization's commitment to scrum because he is acting as a saboteur to scrum transition in the team. There is what we call synergy in a team, which signifies that a whole is better than a part hence his opinion must be ignored. The overall decision of a team in an organization supercedes that of an individual which is related to the firm's commitment on scrum.

Moreover, sending Hilton to scrum training will not be beneficial to the team because of his dislike towards the scrum transition hence the organization must make firm commitment towards scrum and ensure that Hilton's resistance is futile.

6 0
4 years ago
Read 2 more answers
Consider a mutual fund with $300 million in assets at the start of the year and 12 million shares outstanding. If the gross retu
Vikentia [17]

Answer:

A 15.64%

Explanation:

300*1.18 = 354

354*0.02 = 7.08

354 - 7.08 = 346.92

rate of return = 346.92/300

                      = 15.64%

Therefore, The rate of return on the fund is 15.64%

3 0
3 years ago
A cyclically-adjusted budget balance: a. shows what the budget balance would be when there is a significant amount of cyclical u
GarryVolchara [31]

Answer:

B

Explanation:

The cyclically adjusted budget balance is what the budget balance of an economy would be if the GDP was at its potential. It is also known as the  known as the full employment budget balance

8 0
3 years ago
he sales of the Garland Corporation are projected to grow exponentially for the years between 2010 and 2015 from $110 million to
katrin2010 [14]

Answer:

between 2010 and 2015 he only grown $50.

Explanation:

That why he come from $110 to $160. In the middle of the years he only grown $50.

I hope it help you understand.

7 0
3 years ago
Other questions:
  • When gk, a company producing razors and shaving accessories for men, asks supermarkets to give its new razors shelf space and sp
    14·1 answer
  • Rahul needs a loan and is speaking to several lending agencies about the interest rates they would charge and the terms they off
    13·1 answer
  • When an administrative assistant reorders office supplies for a business, placing the same order as last month without checking
    7·1 answer
  • You have just determined the actual number of workstations that will be used on an assembly line to be 6 using the assembly-line
    5·1 answer
  • An inventory decision rule states "when the inventory level goes down to 14 gearboxes, 100 gearboxes will be ordered." Which of
    12·1 answer
  • Which element of a high-performance work system determines how the details of the organization's necessary activities will be gr
    11·1 answer
  • Giveaway again! <br><br> help me with my quiz u get 100 if i get 100 percent!
    8·2 answers
  • An oligopoly consists of:​ a. many interdependent firms.​ b. many independent firms.​ c. ​a few independent firms. d. a few inte
    10·1 answer
  • Which attack is typically performed from a hallway or doorway?
    13·1 answer
  • When the price of chocolate chip cookies increased to $3 per package, Samantha began to buy oatmeal cookies
    15·1 answer
Add answer
Login
Not registered? Fast signup
Signup
Login Signup
Ask question!