If i understand your question properly, you want to determine how much each partner wiil have based on the sharing ratio.
Answer:
Alex- $40,000
Brad- $30,000
Carl- $30,000
Explanation:
For a net loss of $100,000 shared between partners in the ratio 4:3:3, the value of each partner's ratio can be calculated as seen below.
Step 1: Add the ratios
i.e; 4 + 3 + 3 = 10
Step 2: Calculate the value of each ratio in $100,000 using te formula
(ratio value ÷ total ratio) × $100,000
For Alex, we have
(4 ÷ 10) × $100,000
= 0.4 × $100,000
= $40,000
For Brad, we have
(3 ÷ 10) × $100,000
= 0.3 × $100,000
= $30,000
For Carl, we have
(3 ÷ 10) × $100,000
= 0.3 × $100,000
= $30,000
N.B: To confirm if the value of each ratio is correct, you can add up the values to see if it makes $100,000. If it doesn't, then the calculatio is wrong.
Adding the value of the ratios, we have $40,000 + $30,000 + $30,000 = $100,000.
i hope this helps
Answer:
An app on their phone if I had a guess. Or, they didn't use a smart device and they did those things.
Hung jury is the answer
hope it helps
Answer:
Trial Balance
<u>Debit</u> <u>Credit</u>
Land 53000
Accounts Receivable 5400
Cash 3200
Prepaid Rent 6700
Accounts Payable 3600
Deferred revenue 1950
Common Stock 33000
Retained earnings 21250
Service Revenue 24700
Salaries expense 7500
Supplies expense <u> 8700 </u> <u> </u>
Totals 84500 84500
Explanation:
The trial balance has been made in the answer section.
Answer:
Nexium & Associates Journal entries
March 1
Dr Accounts Receivable800
Cr Service Revenue 800
March 9
Dr Office Furniture1,060
Cr Office Supplies 160
Cr Accounts Payable1,220
March 15
Dr Accounts Payable1,220
Cr Cash1,220
March 23
Dr Electricity Expense430
Cr Accounts Payable430
March 31
Dr Salaries Expense850
Cr Cash850
Explanation:
The details given about Nexium & Associates are straight forward and required no further
adjustment.