1answer.
Ask question
Login Signup
Ask question
All categories
  • English
  • Mathematics
  • Social Studies
  • Business
  • History
  • Health
  • Geography
  • Biology
  • Physics
  • Chemistry
  • Computers and Technology
  • Arts
  • World Languages
  • Spanish
  • French
  • German
  • Advanced Placement (AP)
  • SAT
  • Medicine
  • Law
  • Engineering
dedylja [7]
3 years ago
14

Profits and losses are split as follows: Allen (20%), Burns (30%), and Costello (50%). Costello wants to leave the partnership a

nd is paid $100,000 from the business based on provisions in the articles of partnership. If the partnership uses the bonus method, what is the balance of Burns’s capital account after Costello withdraws?A. $24,000. B. $36,000. C. $33,000. D. $27,000.
Business
1 answer:
eduard3 years ago
7 0

Answer:

A. $24,000

Explanation:

The missing information is shown below:

Allen capital $60,000

Burns capital $30,000

Costello capital $90,000

For computing the balance of Burns’s capital account, first we have to determine the different amount which is shown below:

= Paid amount - Costello capital  

= $100,000 - $90,000

= $10,000

This bonus amount would be deducted from the remaining partner's balances in the ratio of 3:2

For Burns, it would be  

= $10,000 × 3 ÷ 5

= $6,000

So, the burns capital amount would be

= $30,000 - $6,000

= $24,000

You might be interested in
If you use money as a unit of account, you would be___________.a. returning a sweater to the department store. b. searching the
zepelin [54]

Answer:

b. searching the Internet for a deal on a new computer

Explanation:

When one is searching the Internet for a deal on a new computer, one is comparing price on different websites. Price is an example of money being used as a unit of the account as the price of something is indicated by certain units of money.

5 0
3 years ago
Brea is looking for an insurance policy for her car. Her friend, Justin, who is an attorney, just told her that the policy is a
Tatiana [17]

Answer:

answer is b

Explanation:

3 0
2 years ago
Loughry Catering uses two measures of activity, jobs and meals, in the cost formulas in its budgets and performance reports. The
Andreyy89

Answer:

The correct option is D. $7,124

Explanation:

To compute the catering supplies amount, the following items need to be considered. along with this, the computation is also shown:

= Catering supplies + Job cost + meal cost

where,

Catering supplies are $530 per month

Job cost = Per job cost × expected number of jobs

              = $114 × 25 jobs

               = $2,850

Meal cost =  Per meal cost × expected number of meals

                 = $16 × 234 meals

                 = $3,744

Now put these values to the above formula

So, the answer would be equal to

= $530 + $2,850 + $3,744

= $7,124

The actual activity is not consider. Thus, it is ignored.

Hence, The catering supplies in the flexible budget for October would be closest to $7,124

Therefore, the correct option is D. $7,124

5 0
3 years ago
Two methods for communicating metrics are dashboards and _______
ch4aika [34]

Answer:

<u>Scorecards.</u>

Explanation:

Two methods described for communicating metrics are dashboards and scorecards. These are not mutually exclusive as these can be related and used simultaneously.

Scorecards compares the strategic goals with the actual performance called results. It is a vertical strategy in which management implements its strategies while moving the symmetrical step with goals.

5 0
3 years ago
The present national accounting system does not reflect changes in:
Rama09 [41]
Umm I'd have to say c or d
7 0
3 years ago
Other questions:
  • Every customer that exited the store was subjected to close scrutiny of their shopping cart and receipt by a highly trained insp
    6·1 answer
  • The UJava espresso stand needs two inputs, labor and coffee beans, to produce its only output, espresso. Producing an espresso a
    13·1 answer
  • One benefit of ______ is that employees are more likely to be committed to their goals and to the goals of the organization beca
    8·2 answers
  • King Costume uses a periodic inventory system. The company started the month with 6 masks in its beginning inventory that cost $
    12·1 answer
  • Over the next few years, employers may face a severe labor shortage because ________. Group of answer choices there are fewer pe
    8·1 answer
  • A homeowner in a sunny climate has the opportunity to install a solar water heater in his home for a cost of $2,481. After insta
    6·1 answer
  • Drag each option to the correct location on the image.
    7·1 answer
  • Gus has applied for a home equity line of credit from his federally insured bank so that he can make some renovations to his kit
    11·1 answer
  • Decision Point: Deciding on Your Organizational Structure
    5·1 answer
  • A customer has a long margin account with no sma. if the market value of the securities rises, sma will increase by:________
    15·1 answer
Add answer
Login
Not registered? Fast signup
Signup
Login Signup
Ask question!