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3 years ago

"Vested benefits

Business

1 answer:

juin [17]3 years ago

4 0

Answer: are defined by all of these(D)

Explanation:

Vested benefit is a financial package that is given to an employee who has fulfilled the term of service that is necessary to receive a full benefit. As a way of making employees stay with a company, the employers may offer the employees benefits in which, the full amount is gradually acquired, as they spend more time with the company.

When the worker has earned the full rights to the benefits after a required number of years of service, the benefits are called vested benefits.

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Prior to liquidating their partnership, Joyce and Xi had capital accounts of $50,000 and $105,000, respectively. Prior to liquid

Iteru [2.4K]

Answer:

Joyce cash distribution = $262500

Explanation:

given data

Joyce capital = $50,000

Xi capital = $105,000

liabilities = $10,000

assets sold = $190,000

to find out

we consider Determine the amount received by Joyce as a final distribution from liquidation of the partnership

solution

we carrying value of non-cash asset prior to liquidation is

value of non-cash asset prior to liquidation = $50,0000 + $105,000 + $10,000

value of non-cash asset prior to liquidation = $615000

so Profit on Liquidation is = value of non-cash asset prior to liquidation - Sale of Asset

Profit on Liquidation is = $615000 - $190,000

Profit on Liquidation is = $ 425000

and here since

Joyce and Xi share income and losses equally

so Joyce share of profit will be

Joyce share of profit = 50% × $ 425000

Joyce share of profit = $212500

and

so Joyce cash distribution will be

Joyce cash distribution = Joyce share of profit + Joyce capital

Joyce cash distribution = $212500 + $50,000

Joyce cash distribution = $262500

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3 years ago