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Kay [80]
3 years ago
6

Doug and Kayla formed a partnership with capital contributions of $220,000 and $320,000, respectively. Their partnership agreeme

nt calls for Doug to receive a $52,000 per year salary. Also, each partner is to receive an interest allowance equal to 10% of a partner's beginning capital investments. The remaining income or loss is to be divided equally. If the net income for the current year is $116,000, then Doug and Kayla's respective shares are:
Business
1 answer:
Mandarinka [93]3 years ago
5 0

Answer:

The correct answer is $79,000 and $37,000.

Explanation:

According to the scenario, the given data are as follows:

Net income = $116,000

Doug's Salary = $52,000

Receive an interest = 10%

So, the amount to be shared equally = [$116,000 - $52,000 - ( 10% × $220,000) - ( 10% × $320,000)] ÷ 2

= $5,000

So, Doug share = $52,000 + ( 10% × $220,000) + $5,000

= $79,000

Kayla share =  (10% × $320,000) + $5,000 = $37,000

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Which agency is responsible for approving states' special education plans and releasing idea funds accordingly?
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For purposes of computing the WACC, if the book value of equity exceeds the market value of equity, then: the market value of eq
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The market value of equity should be used.

Explanation:

Their are only two methods which are book value method or market value method. The market value method is preferred because the reason is that the market value gives the more accurate numerical value that the securities of the company will give which is the required rate of return to its investors. However historic cost data is not useful because the value of stock and bonds keeps changing every second in the stock exchange and their is the risk that the WACC calculated is inaccurate which implies that the project appraised is also incorrect.

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A company sells DVD players for $200 per unit. The players have a unit variable cost of $160. The company estimates that it will
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Answer:

Break-even point= 1,200 DVDs

Explanation:

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3 years ago
On January 1, 2004, Kay Inc. issued its 10% bonds in the face amount of $400,000, which mature on January 1, 2014. The bonds wer
DaniilM [7]

Answer:

Unamortized discount is $43,700

Explanation:

Unamortized bond discount=original bond discount-amortization to date

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amortization of discount=$20,000-$17,700

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The unamorized bond discount at the end of the first six months is $43,700

                     

3 0
3 years ago
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