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
Katen [24]
3 years ago
13

Harold and Zack have pooled their money together to buy real estate but have filed no formal papers to form a business. Harold,

a lawyer, handles all the legal matters and Zack, a real estate broker, finds buyers for the property they have subdivided. Harold and Zack are engaged in a:
a. partnership.
b. close corporation.
c a limited liability company.
d. business trust.
Business
1 answer:
Alex777 [14]3 years ago
7 0

Answer: a. Partnership

Explanation:

Partnership could be defined as a process where two or more group of persons join their resources together to form a business or an investment, if it's a business, it is ran by both of them and the profit and loss realised is been shared amongst them. During partnership, the ratio of capital invested determines the ratio of profit that would be realised by the different persons. Harold and Zack combining resources to own a real estate investment is known as capital despite not signing legally for it yet.

You might be interested in
Paul is able to look at things from different perspectives. He prefers to watch rather than do, and tends to gather information
Furkat [3]

Answer:

Paul's learning style is that of a <u>Assimilator(a)</u>

Explanation:

  • The Assimilating learning style lays emphasis on concept and logic.
  • The people with Assimilative learning style prefer to gather wide range of information and then they organize it in clear ,logical format.
  • These people are attracted towards logical theories like analytical models.

7 0
3 years ago
Please help for my career class please
Julli [10]
Do you need help finding a career or do you need help picking a dream I don’t understand what you need help with but I can help
5 0
3 years ago
Read 2 more answers
Can somebody plz help? ASAP
aleksandrvk [35]

Answer:

More accessible goods

An increase in international trade

A rise in regional Jobs

3 0
3 years ago
If a gain of $221000 is realized in the cash sale of a building having a book value of $882000, the total amount reported in the
djyliett [7]

Answer:

$1,103,000

Explanation:

The cash flow statement categories the company's transactions in a financial period into 3 groups; these are operating, investing and financing.

The net profit/loss, depreciation, changes in current assets (other than cash) and liabilities are considered as operating activities including income taxes.  

The sale of assets, interest received, purchase of investments are examples of investing activities while the issuance of stocks, debt principal deduction (loan settlement), issuance of debt securities etc are examples of financing activities.

For assets disposed, the amount received from the disposal is the amount recorded as an investing activity.

Amount received  - Book value of asset = Gain on disposal

Amount received = $221000 + $882000

= $1,103,000

8 0
3 years ago
Phoenix Agency leases office space for $7,700 per month. On January 3, Phoenix incurs $105,600 to improve the leased office spac
nadezda [96]

Answer:

$13,200 per year

Explanation:

Amount incurred to improve the office space = $

Improvement expected to yield benefit = 10 years

Remaining life on it's lease = 8 years

Since the office space is not going to remain with Phoenix after the lease period, it means that the improvement expenses will be expensed over the remaining lease period I.e 8 years.

Therefore, the amount of expense that should be recorded the first year related to improvements can be calculated as;

= Amount incurred to improve the office space ÷ remaining life on its lease

= $105,600 ÷ 8

= $13,200 per year

7 0
3 years ago
Other questions:
  • Ricardo's sales manager just informed his sales team that all sales in January will earn an extra 5 percent commission. The team
    15·1 answer
  • What are the 3 Skills listed for a roofer?
    14·2 answers
  • Assume you plan to travel to the Southern Hemisphere after final exams. You’ve narrowed your choices down to two that you like e
    12·1 answer
  • GreenLawn Co. provides landscaping services to clients. On May 1, a customer paid GreenLawn $72,000 for 6-months services in adv
    11·1 answer
  • Russell’s has a bond issue outstanding. The issue's indenture provision prohibits the firm from re-deeming the bonds during the
    10·2 answers
  • A company failed to record unrealized gains of $21 million on its trading security investments. Its tax rate is 40%. As a result
    9·1 answer
  • Francis Real Estate Company has the following account balances at December 31, the end of its fiscal year. Debit Credit Commissi
    14·1 answer
  • Which of the following would help in the creation of a visual workplace?
    6·1 answer
  • Dole Corp.'s accounts payable at December 31, 2020, totaled $900,000 before any necessary year-end adjustments relating to the f
    7·1 answer
  • For each of the statements below, use the dropdown box to select the response that completes the sentence correctly. Knowledge C
    6·1 answer
Add answer
Login
Not registered? Fast signup
Signup
Login Signup
Ask question!