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3 years ago

If the absence of an agreement to the contrary in partnership, what are the all partners entitled?

Business

1 answer:

Ne4ueva [31]3 years ago

6 0

Answer:

d) All of above

Explanation:

A partnership agreement provides guidelines on how two or more partners will manage their partnership business. It is the contract that dictates each partner's roles, profit and loss sharing formula, and personal liability of each in case of insolvency.

In the absence of a partnership agreement, the law prescribes that partners share profits and losses equally. All partners assume equal rights to responsibilities and liabilities.

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The chart describes four people’s credit histories. Creditworthy Criteria Name Description of Credit History Ellie Has more debt

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Eesha is the one who is creditworthy.

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3 years ago

Read 2 more answers

1. palmer luckey's backers were early adopters who enjoyed becoming part of the development process

garri49 [273]

The answer is a)True.....

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2 years ago

In January of the current year, Stan Signowski's U.S. employer assigned him to their Paris office. This year, he earned salary,

elixir [45]

Answer:

Stan appears to satisfy the basic Sec. 911 exclusion requirements for his year of arrival since he will be physically present in France for at least 330 days during his year of arrival. The actual number days for which the exclusion can be claimed depends on the length of time he spent in the United States. The salary, cost-of-living allowance, housing allowance, home leave allowance, and education allowance all are excludable up to the Sec. 911 limitation (calculated on a daily basis). In addition, Stan can claim an exclusion for the housing cost amount minus the base amount (calculated on a daily basis). Both exclusions are denied for the portion of Stan's salary and allowances attributable to his time in the United States. The portion of his employment-related expenses and foreign taxes attributable to the excluded income are unable to be deducted or credited. The foreign-earned income exclusion and housing cost amount exclusion are both elected by claiming such amounts on Form 2555.

Not knowing the amount of the foreign income taxes, and other components of Stan's tax return, it is impossible to know whether Stan should elect out of the Sec. 911 exclusion. Stan may have spent sufficient number of days in the United States on his trip home to need to qualify for the foreign-earned income exclusion under the bona fide foreign resident rules. In such case, he will not qualify for the exclusion until the end of this second calendar year in France. The exclusion would then be available retroactively back to the date on which he established foreign residency status.

Explanation:

5 0

3 years ago

A corporation issued 200 shares of its $5 par value common stock in payment of a $2,800 charge from its accountant for assistanc

murzikaleks [220]

The journal entry records the transaction by debiting the corporate expense by $2,800 and crediting the common stock by $1,000 with the remaining amount transferred to additional capital as $1,800.

<h3>What is a journal entry?</h3>

Journal entry is passed in the accounting books to record the financial transactions made by a company. It shows a dual effect on every transaction where one account is debited and another account is credited.

The charge from the accountant is an expense for the company, that is, $2,800, the issue of common stock for payment is the equity of the company, that is, $1,000 and the excess amount left should be treated as additional capital in excess of par, that is, $1,800.

The journal entry is as follows:

Particulars Debit Amount Credit Amount

Corporate expenses $2,800

Common stock (200 shares X $5 ) $1,000

Additional capital ($2,800-$1,000) $1,800

Therefore, the journal entry is passed by making a debit of $2,800 to corporate expenses and a credit of $1,000 in common stock as well as $1,000 in additional capital.

Learn more about the journal entry in the related link:

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7 0

1 year ago

"Bennett Co. has a potential new project that is expected to generate annual revenues of $247,700, with variable costs of $137,6

Nostrana [21]

Answer:

$40,960

Explanation:

The computation of the operating cash flow is shown below;

As we know that

Annual Operating Cash Flow is

= EBIT × (1 - Tax Rate) + Depreciation Expenses

Here,

Earnings Before Interest & Tax [EBIT] = Revenues - Variable Cost - Fixed Costs - Depreciation Expenses

= $247,700 - $137,600 - $56,500 - $22,000

= $31,600

Now

Annual Operating Cash Flow = EBIT × (1 - Tax Rate) + Depreciation Expenses

= $31,600 × (1 - 0.40) + $22,000

= [$31,600 × 0.60] + $22,000

= $18,960 + 22,000

= $40,960

5 0

3 years ago