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Harman [31]
3 years ago
6

A partnership liquidation occurs when a.a new partner is admitted b.the ownership interest of one partner is sold to a new partn

er c.a partner dies d.the assets are sold, liabilities paid, and business operations terminated
Business
1 answer:
Sloan [31]3 years ago
4 0

Answer:

Correct answer is d, the assets are sold, liabilities paid and business operations terminated

Explanation:

The partnership liquidation occurs when the day-to-day operation is closed for good. Part of liquidation's process is to sold the partnership's assets and paid all creditors (outside and partners) and divide the excess to the partners based on the profit and loss ratio or if there is still existing obligation to the creditors, the partners will pay it using their personal assets (applicable to general partner only). This stage, the life of the partnership ceased to exist.

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Landis Company is preparing its financial statements. Gross margin is normally 40% of sales. Information taken from the company'
tatiyna

Answer:

$5,000= ending inventory

Explanation:

Giving the following information:

Gross margin is normally 40% of sales.

Sales= $25,000

beginning inventory= $2,500

purchases= $17,500

First, we need to determine the cost of goods sold:

COGS= 25,000*0.6= 15,000

Now, using the following formula, we can calculate the ending inventory:

COGS= beginning inventory + cost of goods purchased - ending inventory

15,000= 2,500 + 17,500 - ending inventory

5,000= ending inventory

5 0
3 years ago
Each of Professor A and Professor B at UTD has a private secretary, who can type four letters per hour. The letters are generate
nydimaria [60]

Answer:

Average waiting time = 7.5 minutes

Explanation:

UTD private secretary can type the number of letters = 4  per hour by each.

By professor, the letter generated = 3 per hour by each

Thus by pooling the average time will be the time that comes by dividing the one hour with total letters in an hour.

Use the below formula:

Average waiting time = Minutes in one hour / total letters

Average waiting time = 60 / 8

Average waiting time = 7.5 minutes

6 0
3 years ago
Who has a fear of clowns?
Mashutka [201]

I do lol, they kinds scary yk?

4 0
3 years ago
Read 2 more answers
Assessing opportunity cost involves
Kruka [31]

The act of assessing opportunity cost involves making choices and dealing with consequences.

<h3>What is an opportunity cost?</h3>

This refers to the most desirable alternative given up as the result of a decision.

It is also the concept that cost of something that has to be given up to enjoy something better.

Hence, the act of assessing opportunity cost involves making choices and dealing with consequences.

Read more about opportunity cost

brainly.com/question/481029

#SPJ1

7 0
1 year ago
Golden Company has a binding commitment from another company to purchase its copyright at the end of the asset's useful life. Th
Pepsi [2]

Answer:

$150,000

Explanation:

Given an intangible asset like a copyright, it is amortized using the straight-line method, thus, to determine the amount of amortization in a given year, the formula is to divide the copyright's value by the length of its useful life.

However, in this case, since the Golden Company has a binding commitment from another company to purchase its copyright AT THE END of the asset's USEFUL LIFE, then, the value of the copyright equals zero.

What this simply means is that, when calculating copyright amortization, Golden Company should utilize a residual value of $150,000, because the value of the copyright at that moment equals zero.

6 0
3 years ago
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