Answer:
Existence of an agreement: ...
Existence of business: ...
Sharing of profits: ...
Agency relationship: ...
Membership: ...
Nature of liability: ...
Fusion of ownership and control: ...
Non-transferability of interest:
The partnership most likely formed is a general partnership.
<h3>What is a general partnership?</h3>
A general partnership is when two or more people come together to form a business. The people who come together to create the business are referred to as partners.
In a general partnership, all the partners are responsible for the running the company. All the partners have an unlimited liability.
To learn more about partnerships, please check: brainly.com/question/9909227
Answer:
(a) P = 80 and Q= 100
(b) P = 80.57 and Q= 97.15
(c) Tax revenue = 194.3
Explanation:
Qd= 500 - 5P
Qs = 2P - 60
(a)
In equilibrium
Putting this value of P back into the Qd or Qs equation
Thus, equilibrium price is 80 and equilibrium quantity is 100
(b)
When a tax is imposed the supply curve shifts up to the left by the amount of the tax. The new supply curve is given by
The new equilibrium is
Substitute it into Qs or Qd we get
(c)
Answer:
1. Jan 2
Dr Patent $313,950
Cr Cash $313,950
July 1
Dr Franchise $583,200
Cr Cash $583,200
Sept 1
Dr Research and development expense $176,500
Cr Cash $176,500
2. Dr Amortization expense $81,300
Cr Patent $44,850
Cr Franchise $36,450
Explanation:
1. Preparation of the necessary entries to record the transactions related to intangibles.
Jan 2
Dr Patent $313,950
Cr Cash $313,950
July 1
Dr Franchise $583,200
Cr Cash $583,200
Sept 1
Dr Research and development expense $176,500
Cr Cash $176,500
2. Preparation to the journal entry as of December 31, 2022, recording any necessary amortization.
December 31, 2022
Dr Amortization expense $81,300
($44,850+$36,450)
Cr Patent $44,850
($313,950/7 years)
Cr Franchise $36,450
($583,200/8 years*6/12)
Answer: C. The employees will receive a share of profits as part of the company's ESOP.
Explanation:
The retirees can still get a portion of profits if they are part of an Employee Stock Ownership Plan.
ESOP is a pretty standard thing these days with companies where they reward their employees with shares in the company.
Seeing as the company is making too little to be able to keep paying Retirement benefits, the retirees being owners of Stock can still partake in the earnings that the company makes when they distribute dividends.