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Ghella [55]
3 years ago
15

The partnership of X and Y shares profits and losses in the ratio of 60 percent to X and 40 percent to Y. For the year 20X8, par

tnership net income was double X's withdrawals. Assume X's beginning capital balance was $80,000, and ending capital balance (after closing) was $140,000. Partnership net income for the year was:
A. $120,000.
B. $300,000.
C. $500,000.
D. $600,000.
Business
1 answer:
kaheart [24]3 years ago
3 0

Answer:

D. $ 600,000

Explanation:

if X's withdrawals = y

Net Income = 2y

X 's share of profit = 2y ×60%

                              = 1.2 y

X's Closing capital + X's withdrawals = Opening Capital + Share of Net income

$ 140000 + y = $ 80000 + 1.2y

1.2y - y = $ 140000 - $ 80000

           = $60000

0.20y = $ 60000

        y = $ 300000

Therefore,

Net Income = 2y

                    = 2×300000

                    = $ 600000

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The Creamery is analyzing a project with expected sales of3,800 units, give or take 5 percent. The expected variable cost per un
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Answer:

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Explanation:

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we know operation cash flow ( OCF ) is express as

OCF = [ { selling - variable cost ) × no of units } - fixed cost ] × [ tax rate ] + [ deprecation × tax rate ]      ..............................1

put here all these value

OCF = [ { 305 - 185 ) × 3800 } - 360000 ] × [ 35% of income before tax ] + [ 104,000 × 0.35 ]

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