In a limited partnership:
The inactive partner has limited liability for the business's debts
Explanation:
In a general partnership all partners share equal financial responsibility for the firm's decisions.
This means that all partners are supposed to have equal liabilities but hat is not the case for limited ones.
In limited partnerships there is a general partner who owns most of the business and has most of the availability and the limited partner has pooled resources for the business but has very little personal responsibility to it.
This model is usually there when the firm needs some investors and the person running business is usually the owner only.
Answer:
(A) $425,000
(B) $24,350
Explanation:
(a) Average Operating Assets:
= (Beginning Operating Assets + Ending Operating Assets) ÷ 2
= ($390,000 + $460,000) ÷ 2
= $425,000
Therefore, the average operating assets is $425,000.
(b) Residual Income:
= Operating Income - (Minimum Rate of Return × Average Operating Assets)
= $66,850 - (10% × $425,000)
= $66,850 - $42,500
= $24,350
Explanation:
For enjoying and enjoying the time of your life
Answer: Credit Additional Paid in Capital $198
Explanation:
Brett Corporation reissued the Treasury Stock at $29 which was $3 higher than the amount they had repurchased it for.
When stock is sold for a price higher or lower than they are worth, the balance goes to the Additional Paid-in Capital account. If it is sold higher, the balance is Credited to the Additional Paid-in Capital account and if it is sold for lower than it is worth, it is debited.
The Balance here is,
= $3 * 66 resold shares
= $198
This $198 will therefore be credited to the Additional Paid-in Capital account.
D) the company’s raw materials
The reason being is that it’s the only option where it has more unique potential cause the other ones anyone could get
