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Fantom [35]
3 years ago
5

Partners Gary and Elaine have agreed to share profits and 1osses in an 80:20 ratio respectively, after Gary is allowed a salary

allowance of $30,000 and Elaine is allowed a salary allowance of $15,000. If the partnership had net income of $30,000 for 2017 Elaine's share of the income would be A) 15,000 B) 12,000 C)18, 000 D) 3,000 E) None of the above
Business
1 answer:
Verizon [17]3 years ago
5 0

Answer:

E) None of the above

Explanation:

In partnership, the partners earn profit. The salary allowances are considered as though paid to a third party and are considered before arriving at the net income.

As such, given that net income is $30,000 and is to be shared in the ratio 80:20 between Gary and Elaine respectively.

Elaine's share = (20/100) × $30,000

                        = $6,000

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6 0
1 year ago
What is the difference between SG&A costs and Indirect costs?
nlexa [21]

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6 0
3 years ago
Bonds that are backed solely by the general credit of the corporation issuing them are called _______ bonds.
babymother [125]
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I hope this helps.
3 0
3 years ago
If inflation is increasing at 2.4 percent per year, and your salary increases at the same rate, how long will it take your salar
Oksana_A [137]

Answer:

it take 29.23 years, my salary to double.

Explanation:

To make the salary double I have to increase the value of salary by 100%. If inflation rate is 2.4 percent per year and salary increase the same rate the time period to make it double can be calculated as follow.

As every year 2.4% has compounding effect, so we will use compounding formula to solve this problem.

Target value = Existing value ( 1 + growth rate )^time period

200% = 100% ( 1 + 2.4% )^n

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2 = 1 ( 1.024 )^n

2 = 1.024^n

Taking log on both sides to solve the n

Log 2 = n Log 1.024

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5 0
3 years ago
Answer the question on the basis of the given supply and demand data for wheat. Bushels Demanded Per Month Price Per Bushel Bush
Flura [38]

Answer:

C. farmers would not be able to sell all their wheat. 

Explanation:

At a price of $4, quantity supplied exceeds quantity demanded. Quantity supplied is 73 while quantity demanded is 50. There is an excess supply over demand. Therefore, farmers would not be able to sell all their wheat.

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I hope my answer helps you

6 0
3 years ago
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