Answer:
A) $3,429
Explanation:
Bonus capital paid by the new shareholders will be distributed among the Old Partner on the basis of their old sharing ratio
Capital Balance of Peter = $38,000
Settlement amount = $20,000
As we does not have revised profit ratios, Peter and Chris will share profit on their old ratios.
Remaining balance of Gary's capital = $26,000 - $20,000 = $6,000
Peter Share = 4/7 x $6,000 = $3,429
Answer:
The correct answer is B
Explanation:
Inferior goods are those goods or kind of goods whose demand declines or decrease when the income of the person or customer increases or rises. In other words, it means that the inferior goods demand is inversely associate to the customer or consumer income.
So, in this case, the income rises by 8% and the quantity demanded for the ice cream declines or falls by 18%, then the vanilla ice cream would considered as the inferior good.
Wanda has a new idea for a book, which she won't have time to start writing until next year. If she decides to discuss her idea with a film producer she knows, Wanda may protect it by means of <u>a Nondisclosure agreement.</u>
A Non-disclosure agreement (NDA) is a legal contract or part of a contract among at the least events that outlines private cloth, know-how, or facts that the events desire to proportion with each other for certain functions, but want to restriction get right of entry to to.
Doctor-patient confidentiality (medical doctor-patient privilege), attorney-customer privilege, priest-penitent privilege, and bank–patron confidentiality agreements are examples of NDAs, which can be often now not enshrined in a written agreement among the events.
It is a contract through which the parties agree now not to disclose any data covered with the aid of the agreement. An NDA creates an exclusive relationship between the events, generally to protect any sort of confidential and proprietary information or exchange secrets.
Learn more about Non-disclosure agreements here: brainly.com/question/19451955
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Answer:
Dr Bad debt expense 3,070
Cr Allowance for doubtful accounts 3,070
Explanation:
$99,000 in accounts receivables
4% is considered bad debt
$99,000 x 4% = $3,960
the current balance for allowance for doubtful accounts = $890 (credit)
the adjusting entry for allowance for doubtful accounts = $3,960 - $890 = $3,070
the journal entry should be:
Dr Bad debt expense 3,070
Cr Allowance for doubtful accounts 3,070
the final balance of the allowance for doubtful accounts = $3,070 + $890 = $3,960
