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postnew [5]
2 years ago
12

The capital accounts of Hawk and Martin have balances of $160,000 and $140,000, respectively, on January 1, the beginning of the

current fiscal year. On April 10, Hawk invested an additional $10,000. During the year, Hawk and Martin withdrew $86,000 and $68,000, respectively, and net income for the year was $258,000. The articles of partnership make no reference to the division of net income. Based on this information, the statement of partners' equity for the current year would show what amount in the capital account for Hawk on December 31?
a. $213,000
b. $201,000
c. $211,600
d. $203,000
Business
1 answer:
Serhud [2]2 years ago
8 0

Answer:

a. $213,000

Explanation:

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3 years ago
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WoodCore Inc. produces an entire line of office furniture at its manufacturing facility in the United States and then ships its
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3 years ago
Before a customer is willing to accept a change to the proposed project, the contractor must provide a/an ___ along with an indi
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Answer:

c. price estimate

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3 years ago
A manager has received an analysis of several cities being considered for a new office complex. The data (10 points maximum) are
Solnce55 [7]

Answer:

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Explanation:

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An excel copy is attached showing the derivations for a and b.

Download xlsx
8 0
3 years ago
Classifying Accounts Balances for each of the following accounts appear in an adjusted trial balance. Identify each as an asset,
Kobotan [32]

Answer:

1. Asset

2. Asset

3. Revenue

4. Expense

5. Asset

6. Asset

7. Revenue

8. Expense

9. Liability

10. Asset

11. Liability

12. Liability

Explanation:

1. Accounts Receivable - Asset

2. Equipment - Asset

3. Fees Earned - Revenue

4. Insurance- Expense

5. Prepaid Advertising - Asset

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3 years ago
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