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3 years ago

How to be successful in business without really trying?

Business

1 answer:

galina1969 [7]3 years ago

5 0

Being the son/daughter of someone with big bucks and lots of cash. Kim jung whats his face

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True or false most small business owners enjoy being part of a team

Mandarinka [93]

I believe the answer is false

4 0

3 years ago

Prior to liquidating their partnership, Joyce and Xi had capital accounts of $50,000 and $105,000, respectively. Prior to liquid

Iteru [2.4K]

Answer:

Joyce cash distribution = $262500

Explanation:

given data

Joyce capital = $50,000

Xi capital = $105,000

liabilities = $10,000

assets sold = $190,000

to find out

we consider Determine the amount received by Joyce as a final distribution from liquidation of the partnership

solution

we carrying value of non-cash asset prior to liquidation is

value of non-cash asset prior to liquidation = $50,0000 + $105,000 + $10,000

value of non-cash asset prior to liquidation = $615000

so Profit on Liquidation is = value of non-cash asset prior to liquidation - Sale of Asset

Profit on Liquidation is = $615000 - $190,000

Profit on Liquidation is = $ 425000

and here since

Joyce and Xi share income and losses equally

so Joyce share of profit will be

Joyce share of profit = 50% × $ 425000

Joyce share of profit = $212500

and

so Joyce cash distribution will be

Joyce cash distribution = Joyce share of profit + Joyce capital

Joyce cash distribution = $212500 + $50,000

Joyce cash distribution = $262500

4 0

3 years ago

A company uses the percent of sales method to determine its bad debts expense. At the end of the current year, the company's una

ValentinkaMS [17]

Answer: $5,440

Explanation:

When using the percent of sales method to determine bad debts, the company estimates a percentage that it believes will results in uncollectible debt and then applies it to the sales/revenue figure. The figure that is calculated is then debited along with the debit balance on the Allowance for doubtful accounts to the Bad debts account for the year and credited to the Allowance for doubtful accounts.

This company estimates that they will have 0.6% of credit sales uncollectible.

There are also $790,000 in sales of which all are on credit.

The Uncollectible estimate is therefore,

= 790,000 * 0.6%

= $4,740

This figure is then added to the debit amount on the Allowance for Uncollectible Accounts.

= 4,470 + 700

= $5,440

Note; A debit balance on the Allowance for doubtful debt account signifies that the bad debts were higher than anticipated the last time. This is why the figure is added to the current bad debts expense.

6 0

3 years ago

What is from utility

ella [17]

Explanation:

Refers to how well a product or service meets the customer's needs

3 0

3 years ago

In which type of economy is a business owner most likely to benefit from free<br> enterprise?

Colt1911 [192]

Most likely would be a democratic system.

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3 years ago