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
pshichka [43]
3 years ago
8

Paul and Roger are partners who share income in the ratio of 3:2. Their capital balances are $90,000 and $130,000, respectively.

Income Summary has a credit balance of $50,000 after the second closing entry. What is Roger's capital balance after closing Income Summary to the capital accounts?
A) $150,000

B) $110,000

C)$115,000

D) $155,000
Business
1 answer:
andreyandreev [35.5K]3 years ago
6 0

Answer:

A) $150,000

Explanation:

The computation of the roger's capital balance is shown below:

= Opening capital balance of Roger + profit of roger

where,

Profit of roger = Net income × (Roger share ÷ total share)

                       = $50,000 × (2 ÷ 5)

                        = $20,000

And, the opening balance of Roger is $130,000

Now put these values to the above formula  

So, the value would equal to

= $130,000 + $20,000

= $150,000

You might be interested in
Draft an inquiry letter for purchase of 10 units of IBM P4 computers and 2 units of Lx 300 Epson printers to Kathmandu Computers
gtnhenbr [62]

Based on writing standards, the inquiry letter for purchase should begin with the sender's address and be written like a formal letter.

<h3>Structures of Letter of Inquiry.</h3>
  • The sender's address should be written at the beginning of the letter, followed by the receiver's address.

  • The letter must contain all the elements of the enquiring item, including their quantities.

  • There must be the date and address of the receiver included.

  • The letter's subject must be written clearly before the letter's content.

  • Ensure you provide the expected salutation at the beginning of the letter.

  • Write clearly and straightforward.

  • Provide reasons and inquiry descriptions.

  • Add your signature, name, and designation at the end of the letter.

Hence, in this case, it is concluded that there are specific ways to write a good inquiry letter.

Learn more about Inquiry Letter here: brainly.com/question/4208084

4 0
3 years ago
Asset deflation: Multiple select question. reflects a decline in the productive capacity of assets and therefore reduces potenti
Eduardwww [97]

Generally, a firm's asset deflation mostly reflects a decline in the productive capacity of assets and therefore reduces potential output.

<h3>What is an asset deflation?</h3>

This refers to the general reduction in the value of firm's assets such as lands, homes, office, machine etc \.

Most time, the firm's asset deflation mostly reflects a decline in the productive capacity of assets and therefore reduces potential output.

Therefore, the Option A is correct.

Read more about asset deflation

<em>brainly.com/question/25179281</em>

#SPJ12

7 0
2 years ago
Aurora Corporation operated without insurance coverage for the first month of 2019. Then, on February 1, 2019, the company paid
Genrish500 [490]

Answer:

Correct answer is letter B, $2,200

Explanation:

Using accrual basis method, revenue and expenses will be recognized when incurred.

The $4,800 is a 24 months policy, therefore we must compute the insurance expense applicable for the year covering from February 1 to December 31 (11 months)

An adjusting entry to recognize the expire portion of the insurance must be done at the year end in the amount of $2,200.

($4,800 / 24 months = $200 x 11 months = $2,200)

3 0
3 years ago
The 1803 decision of the United States Supreme Court in the case of Marbury v. Madison established
Darina [25.2K]

Answer:

c). the power of judicial

Explanation:

This was the first time such power was wielded by the Court.

3 0
3 years ago
Electro Company manufactures an innovative automobile transmission for electric cars. Management predicts that ending finished g
snow_tiger [21]

Answer:

Instructions are below.

Explanation:

Giving the following information:

Beginning inventory= 208,500 units.

Sales:

second quarter= 417,000 units

third quarter= 469,000 units

fourth quarter= 289,500 units.

Desired ending inventory= 50% of the next quarter's budgeted sales.

To calculate the production for each quarter, we need to use the following formula:

Production= sales + desired ending inventory - beginning inventory

Second-quarter:

Sales= 417,000

Desired ending inventory= 0.5*469,000= 234,500

Beginning inventory= (208,500)

Total production= 443,000

Third-quarter:

Sales= 469,000

Desired ending inventory= 0.5*289,500= 144,750

Beginning inventory= (234,500)

Total production= 379,250

4 0
3 years ago
Other questions:
  • Macy Corporation's relevant range of activity is 5100 units to 11,500 units. When it produces and sells 8300 units, its average
    7·1 answer
  • nco purchased a computer for $200,000 and this machine is expected to generate annual cash flows of $48,271 over the next 5 year
    15·1 answer
  • Of the following factors affect economic growth? a. land c. labor b. capital d. all of the above
    7·1 answer
  • Which answer best describes an unsubsidized federal loan?
    10·1 answer
  • 1. Why do companies frequently expand their business operations into other countries?
    6·1 answer
  • Nick has set up his steel factory near a community lake. The waste from his factory is directly thrown in the lake and is causin
    7·1 answer
  • How can u prove that the traditional technology is the foundation of modern technology short answer​
    5·1 answer
  • Consider a project with the following data: accounting break-even quantity = 19,500 units; cash break-even quantity = 17,500 uni
    8·1 answer
  • A firm is considering an investment in a new advertising project. The project will produce a cash flow of $1,000 in one year and
    7·1 answer
  • Dobbs Company issues 6%, two-year bonds, on December 31, 2018, with a par value of $106,000 and semi-annual interest payments.
    11·1 answer
Add answer
Login
Not registered? Fast signup
Signup
Login Signup
Ask question!