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Leto [7]
3 years ago
15

T. Bina and M. Valley are partners with equal capital balances of $50,000 each. They agree to let R. Smith invest $20,000 in the

ir partnership for a 25% interest, which means that Smith's beginning capital balance will equal $30,000, with each existing partner granting a $5,000 bonus to Smith. The journal entry to reflect Smith's new capital balance will include a____(debit/credit) to Smith, Capital in the amount of $________.
Business
1 answer:
tensa zangetsu [6.8K]3 years ago
6 0

Answer:

The journal entry to reflect Smith's new capital balance will include a credit to Smith, Capital in the amount of $30,000.

Explanation:

<em>Step 1: Determine Smith's capital balance</em>

Smith's new capital balance can be expressed as shown;

C=I+B1+B2

where;

C=new capital balance

I=Smith's capital investment

B1=T. Bina bonus amount

B2=M. Valley bonus amount

In our case;

C=unknown, to be determined

I=$20,000

B1=$5,000

B2=$5,000

Replacing;

C=(20,000+5,000+5,000)=$30,000

New capital balance=$30,000

<em>Step 2: Record Smith's New Capital balance </em>

Account                                     Debit                     Credit

Cash                                          30,000

Smith                                                                       30,000

A credit to Smith, Capital in the amount of $30,000                                                      

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Answer:

A. Meta-conflict

Explanation:

Based on the information provided within the question it can be said that in this scenario Jon and Ana's exchange is an example of a meta-conflict. This term refers to a disagreement or conflict about how exactly one should engage in a conflict. Which in this scenario both Ana and Jon are arguing that the other is approaching the conflict in the incorrect manner.

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3 years ago
In order to determine net cash provided by operating activities, a company must convert net income from an accrual basis to a ca
alexandr402 [8]
Both the direct method and the indirect method. Cash from operating activities usually introduces to the net cash arrival reported in the first section of the explanation of cash flows. Cash flow from operating activities also includes changes in working capital, such as increases or decreases in inventory, short-term debt, accounts receivable and accounts payable.
6 0
3 years ago
Beans Coffee &amp; Cocoa Company makes and sells a chocolate flavored coffee drink under the name "CoCoCafe." Darkroast Java, In
SSSSS [86.1K]

<u>Full question:</u>

Coffee & Cocoa Company makes and sells a chocolate-flavored coffee drink under the name "CoCoCafe." Darkroast Java, Inc., later markets a similar tasting drink under the name "KoKoKafe."

This is most likely:

a. copyright infringement.

b. patent infringement.

c. trademark infringement.

d. a theft of trade secrets.

<u>Answer:</u>

This is most likely:  trademark infringement.

<u>Explanation:</u>

Trademark infringement is described as the illegal practice of a trademark or service impression. This exercise can be in contact with goods or services and may commence to distraction, fraud, or a disagreement about the original company a commodity or service developed from.

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3 0
3 years ago
At Bayside Financial, where you work as a project manager, you have been asked to conduct user training sessions for a new infor
Otrada [13]

Answer:

The correct total time is nineteen (19) days instead of twenty-one days.

Explanation:

Given the analysis of time for the project in parenthesis, it is feasible to merge some of the activities together by carrying them out simultaneously.

For example:

In the course of arranging and confirming the training facility to use which will last for 3 days, the development of the training material that ought to last for 5 days is brought down to a 2 days work because the initial 3 days for arrangement becomes vacant pending the reply on the final day. This brings the total days from 8 to 5.

Other days remain thus:

• Send an e-mail message to all department managers (1 day)  

• Print copies of handout (2 days)

• Develop a set of PowerPoint slides (5 days)

• Conduct a practice training session with the instructor (2 days)

• Conduct the user training sessions (4 days).

Hence, total days are as follow:

5 +1 + 2 + 5 + 2 + 4 = 19 days.

5 0
3 years ago
Ace Leasing acquires equipment and leases it to customers under long-term sales-type leases. Ace earns interest under these arra
sladkih [1.3K]

Answer:

$143,750

Explanation:

We have to first calculate the present value of the bargain purchase option:

PV = $200,000 / (1 + 6%)⁵ = $149,451.63

net lease amount = $790,000 - $149,452 = $640,548

PVIF Annuity due, 6%, 5 payments = 4.546

Annual payment = $640,548 / 4.456 = $143,750

3 0
2 years ago
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