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
ELEN [110]
3 years ago
8

Wilma, Betty, and Fred are partners who share income and losses in a 5:3:2 ratio. Wilma decides to retire from the partnership w

hen their capital balances are $50,000 for Wilma, $60,000 for Betty and $30,000 for Fred. Wilma is paid cash of $45,000 to retire. To record Wilma's retirement from the partnership, Wilma's Capital account should be __________.
Business
1 answer:
Hoochie [10]3 years ago
3 0

Answer:

<u>debited</u>

Explanation:

Partnership refers to a mutual agreement wherein two or more individuals agree carry out a business and to share profits and losses in a specified ratio or as per the clauses of the partnership deed.

When partners retire, the balances standing to the credit of their capital accounts needs to be settled or paid off.

As per the given information, Wilma is paid $45000 in cash. The journal entry in this case would be:

Wilma's Capital A/C                                    Dr.  $45000

    To Cash A/C                                                                $45000

For the remaining balance, Wilma shall be paid in cash as follows,

Wilma's Capital A/C                                    Dr. $5000

     To Cash A/c                                                            $5000

(Being settlement of a retiring partner's capital account being recorded)

You might be interested in
6 . How shifts in demand and supply affect equilibrium Consider the market for pens. Suppose that the number of students with an
Tresset [83]

Answer:

Suppose that the number of students with an allergy to pencil erasers increases, causing more students to switch from pencils to pens in school.

  • This will shift the demand curve to the right, increasing the total demand at all price levels.

Moreover, the price of ink, an important input in pen production, has increased considerably.

  • This will shift the supply curve to the left, increasing the price of pens at every demand level.

What is sure is that the price of pens will increase. It is likely that the quantity demanded increases, but the extent by which the quantity demanded will increase is unknown.

5 0
3 years ago
"$12 million per year. grow 10% compounded annually over the next 5 years. What will demand be in 5 years?"
Dafna1 [17]

Answer:

$12,936,120

Explanation:

The formula for calculating compound interest

=FV = PV × (1+r)n

Fv = future value

PV present value

r interest rate =10 %

t =time = 5 years

Future value= 12million x(1+10/100)5

                    =12,000,000 x (1+0.1)5

                    =12,000,000x1.61051

                    =  $12,936,120

4 0
3 years ago
If an investor does not diversify his portfolio and instead puts all of his money in one stock, the appropriate measure of secur
Lady_Fox [76]

If an investor does not diversify his portfolio and instead puts all of his money in one stock, the appropriate measure of security risk for that investor is the "stock's standard deviation."

<h3>What is standard deviation?</h3>

The standard deviation would be a statistic that calculates as square root of a variance and indicates the dispersion of the a dataset compared to its mean.

Its standard deviation is determined as the square root of the variance by determining the deviation of each data point from the mean.

Some key features regarding the  standard deviation, are-

  • The standard deviation of a dataset reflects its dispersion compared to its mean.
  • A square root of a variance is used to compute it.
  • In finance, standard deviation is frequently employed as a measurement of an asset's relative riskiness.
  • The volatile stock has a large standard deviation, whereas a description stock has a low deviation.
  • The standard deviation, on the other hand, assesses all ambiguity as risk, especially when it is in the investor's advantage, such as above-average profits.

To know more about  standard deviation, here

brainly.com/question/475676

#SPJ4

7 0
1 year ago
Olivia found herself in over $10,000 worth of credit card debt after she graduated from college. Most of her purchases on her cr
Mkey [24]

Answer:

stop using her credit card

Explanation:

Based on the information provided within the question it can be said that the first step that Olivia should take is to stop using her credit card. People have adopted a consumer culture, and that has skyrocketed since the invention of the credit card, as it makes it easy for individuals to impulse buy something even if they do not have the money for it. By switching from credit card to cash only it will allow you to not overspend and make hasty impulse buys, thus allowing you to save money and hopefully get out of credit card debt.

7 0
3 years ago
Which two methods of project analysis are the most biased towards short-term projects?
natita [175]

payback and discounted payback

3 0
3 years ago
Other questions:
  • What are the short-run economic effects when u.s. firms substitute labor outside of the u.s. for labor inside the u.s.?
    15·1 answer
  • Earthquake, drought, fire, economic famine, flood, and a pestilence of TV court reporters have caused an exodus from the City of
    13·1 answer
  • A disadvantage of vertical integration is that by pooling demand for parts from a number of companies, a supplier may be able to
    10·1 answer
  • Why is a performance management system superior to a performance measurement system? because performance measurement systems are
    15·1 answer
  • If a country's economy is to sustain long-run economic growth, the business environment must be conducive to the consistent prod
    13·1 answer
  • The four types of consumer products differ in terms of the (1) effort the consumer spends on the decision, (2) attributes used i
    14·1 answer
  • Following is information from Skechers USA, Inc. for fiscal 2016 (in thousands).
    11·1 answer
  • Credit reporting agencies are required to exclude negative information that is older than five years old. A) True B) False​
    7·1 answer
  • Find the EAR in each of the following cases (Use 365 days a year. Do not round intermediate calculations and enter your answers
    15·1 answer
  • Giám đốc Thắng rất lo lắng về quyết định chọn người cho vị trí quản lý ca đêm của công ty. Cuối cùng anh Thắng đã chọn được anh
    6·1 answer
Add answer
Login
Not registered? Fast signup
Signup
Login Signup
Ask question!