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mario62 [17]
3 years ago
12

Teri, Doug, and Brian are partners with capital balances of $20,000, $30,000, and $50,000, respectively. They share income and l

osses in the ratio of 3:2:1. Revenue accounts for the period total $350,000. Expense accounts for the period total $380,000. The revenue and expense accounts are closed to the capital accounts. Doug withdraws from the partnership. How much cash does he receive upon withdrawal?
Business
1 answer:
mixer [17]3 years ago
7 0

Answer:

$20,000

Explanation:

For computing the Doug withdrawal amount, first, we have to compute the net income or net loss which is shown below:

Net income/loss = Revenue - expense

                           = $350,000 - $380,000

                            = -$30,000

Now Doug share in net loss = Net loss × (his share ÷ total share)

                                               =  - $30,000 × (2 ÷ 6)

                                               =  - $10,000

We knew that the Doug capital is $30,000 and his share in loss is $10,000

So, its withdrawal amount = $30,000 - $10,000 = $20,000

                   

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2 years ago
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8 0
3 years ago
. Suppose that a car dealer has a local monopoly selling Volvos. It pays w to Volvo for each car that it sells, and charges each
kicyunya [14]

Answer:

The dealer will sell 15 Volvos

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Consider the following formulas to calculate the Q of which optimize the exercise.

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6 0
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3 years ago
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Paul [167]

Answer:

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6 0
2 years ago
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