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
nika2105 [10]
3 years ago
8

Kramer and Knox began a partnership by investing $60,000 and $80,000, respectively. Assume that the partners agreed to share net

income and loss by granting annual salary allowances of $50,000 to Kramer and $40,000 to Knox, 10% interest allowances on their investments, and any remaining balance shared equally.
1. Determine the partners' shares of Kramer and Knox given a first-year net income of $98,800. (Losses and amounts to be deducted should be entered with a minus sign.)
2. Determine the partners' shares of Kramer and Knox given a first-year net loss of $16,800. (Losses and amounts to be deducted should be entered with a minus sign.)

Business
1 answer:
Gwar [14]3 years ago
5 0

Answer:

1. $53.4 for Kramer and $45.5 for Knox

2. -$4.4 for Kramer and -$12.4 for Knox

Explanation:

Partner’s agreement before dividing profit or loss is to grant salaries and 10% interest to the partners. In effect, this agreement will be followed whether the partnership incurs profit or losses for the period. First, all salaries should be given to the partners and the 10% interest as well. Any excess whether profit of loss will be divided equally by the partners. Computation of division of profit or loss are attached for proper demostration.

You might be interested in
You need to know more than just facts in order to use critical thinking skills.
solniwko [45]

true at least in my opinion


3 0
3 years ago
Read 2 more answers
On March 1, Pimlico Corporation (a U.S.-based company) expects to order merchandise from a supplier in Sweden in three months. O
luda_lava [24]

Answer and Explanation:

The computation is shown below:

a. As a premium expense

= ($0.460 - $0.44) × 695,000

= $13,900

b. As a difference of 3 months spot rate and spot rate

= ($0.455 - $0.44) × 695,000

= $10,425

The first one represents the premium expense for $13,900 and the second part represents the adjustment to the net income in a positive way

7 0
3 years ago
Suppose your college institutes a new policy requiring you to pay for a permit to park your car in a campus parking lot. a. The
AlexFokin [52]

Answer:

d. The cost of the parking permit is part of the opportunity cost of attending college if you would not have to pay for parking otherwise.

Explanation:

Opportunity cost is a microeconomic concept used to describe how much an economic agent fails to earn in one economic activity by employing money in another economic activity. Thus, all expenses that a student performs to study at the university, including tuition, gasoline, parking, material, and time spent on the activity, is considered an opportunity cost, since all of this could be spent on another activity.

5 0
3 years ago
A company buys equipment for $48,000, expects to use it for ten years, and then sell it for $6,000. using the straight-line meth
Vesnalui [34]

Using the straight-line method, the company should report annual depreciation for the equipment of $4,200.

Given,

A company buys equipment for $48,000 expects to use it for ten years, and then sell it for $6,000

The formula to calculate annual depreciation is given below-

Annual depreciation = (Original cost - salvage value) / Estimated life(years)

Annual depreciation = ($48,000 - $6,000) / 10

Thus, annual depreciation = $4,200

A standard yearly rate at which depreciation is charged to a fixed asset is called annual depreciation. Thus, to calculated depreciation the straight-line method is used. Where you need to subtract the asset's salvage value from its cost.

To learn more about annual depreciation here:

brainly.com/question/27971176

#SPJ4

3 0
2 years ago
Oriental Foods Inc. is a multinational food and beverage company. Its product labels focus on being foods that are easy to make
Natali5045456 [20]

Answer:

Persuasive labelling

Explanation:

Persuasive labelling is a type of product packaging or appearance that focuses on a promotional theme.

The aim is to increase consumer loyalty and ultimately increase sales.

I'm the given scenario Oriental Foods Inc. uses product labels that informs consumers that the foods are easy to make in 5 minutes or less for a complete meal that's great for lunch or a snack.

This is persuasive labelling

5 0
3 years ago
Other questions:
  • On January 1, 2018, Brian Company purchased at par $831,000, 6 percent bonds issued by Laura Company to be held as available-for
    7·1 answer
  • At the scene of the crime, the evidence collector found a damp, bloody shirt. the evidence collector quickly wrapped the shirt i
    9·1 answer
  • Privacy concerns dictate that
    7·1 answer
  • Anna saved ​$13 comma 29313,293​, which was​ 70% of the amount she needed for a used car. what was the total amount she needed f
    14·1 answer
  • Property, plant, and equipment (net) $3,200,000 Liabilities: Current liabilities $1,000,000 Note payable, 6%, due in 15 years 2,
    8·1 answer
  • Examples of humans depicted with the features of lions, bison, stags, or even plants suggests A. The existence of a religious li
    12·1 answer
  • The rule of supply and demand says that
    15·2 answers
  • A property is sold for $150,000 with the buyer agrees to assume an existing loan of $98,000 and executing a second note and deed
    7·1 answer
  • In "The Founder," The McDonald brothers are worried about maintaining standards in their franchises. What are at least three sta
    5·1 answer
  • Capitalization of interest is adding accrued
    13·1 answer
Add answer
Login
Not registered? Fast signup
Signup
Login Signup
Ask question!