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
schepotkina [342]
3 years ago
15

Jack holds an ownership interest of 59​% and Teresa holds an ownership interest of 41​% in the J and T Partnership. This​ year,

in order to further develop the​ business, Jack contributes an additional $ 7,200 and Teresa contributes an additional $ 2, 900 to the partnership. Which of the following is true of this​scenario?
A. Individual contribution of $ 7,200 by Jack and $ 2 ,900 by Teresa will be recorded.
B.59​% of​ Jack's contribution and 41​% of​ Teresa's contribution will be recorded.
C.Either the total contribution of $ 10,100 or the contribution in relationship to the ownership interest ratio will be recorded.
D.Only the total contribution of $ 10,100 will be recorded.
Business
1 answer:
tatiyna3 years ago
4 0

Answer:

Jack holds an ownership interest of 59​% and Teresa holds an ownership interest of 41​% in the J and T Partnership. This​ year, in order to further develop the​ business, Jack contributes an additional $ 7,200 and Teresa contributes an additional $ 2, 900 to the partnership. Which of the following is true of this​ scenario - the $7,200 by Jack and $2,900 by Teresa will be recorded as an individual contribution - option A

Explanation:

Based on the information given by the question, there would be an addition to Jack and Teresa's capital, since the individual contribution is being done by jack and teresa.

Therefore, the $7,200 by Jack and $2,900 by Teresa will be recorded as an individual contribution - option A.

You might be interested in
In the preparation of departmental income statements, the preparer completes the following steps in the following order: (1 poin
olasank [31]

Answer:

The correct answer is a. Identify direct expenses; allocate indirect expenses; allocate service department expenses.

Explanation:

Selling costs are the costs incurred by a company to market the products or services, such as the salary of the sellers, commissions, gasoline of the trucks that distribute the orders, advertising, etc. Administrative expenses are the costs incurred by a company to manage its operations. Examples of these expenses would be the salary of the accountant, the surveillance expenses, the expenses for the cleaning service, stationery, salaries and benefits of the administrative staff of the company, etc. Some concepts can be shared, such as office rent. If there are sales and administration departments in the same building; The total expenditure must be applied to the two departments according to the space each of them uses (square meters) or at an estimated percentage; for the  therefore, of the total rent one part would be selling expenses and another part administration expenses.

3 0
3 years ago
Give description of a recent (2019-2021)example of how this problem has displayed in Southafrica
Gemiola [76]
South africa’s is a cool place,
7 0
2 years ago
What is a federal reserve note in simple terms?
valina [46]
Federal reserve notes are the marks on money like the serial number, U.S emblems, and the signatures. They show that the money is an American Dollar.
6 0
3 years ago
In the context of today’s organizations, which of the following statements is true of employees?A. Employees are not easily the
Zielflug [23.3K]

Answer: A. Employees are not easily the replaced parts of a system, but they are the source of a company’s success or failure.

8 0
3 years ago
Mountain Excursions issues a bond due in 10 years with a stated interest rate of 7% and a face value of $200,000. Interest payme
-Dominant- [34]

Answer:

 $186,409.7  

Explanation:

The computation of the issue price of the bond is shown below:

Cash flows               Amount  PVF         Present value

Semi annual Interest   $,7000 13.59033 $95.132.31  

Maturity value     $200,000 0.456387 $91,277.4  

Price of bonds                                   $186,409.7  

The number of years is 20

And, the rate of interest is 4%

And please refer to the present value factor table

7 0
3 years ago
Other questions:
  • A ______ is a written statement that promises a product will work for a set amount of time.
    12·2 answers
  • Mark Ventura has just purchased an annuity to begin payment two years from today. The annuity is for $8,000 per year and is desi
    13·1 answer
  • When Devin Spencer went to work for a printing shop, he thought he was going to have to join the union representing the shop. Ho
    6·1 answer
  • Companies often use social media influencers popular with their target market to promote their products. In this case, the influ
    9·2 answers
  • Financial information for Forever 18 includes the following selected data: ($ in millions except share data) 2021 2020 Net incom
    12·1 answer
  • Rauol is a receptionist for The South American Paper Company, which has strict corporate policies on appropriate use of corporat
    5·1 answer
  • An increase in demand and an increase in supply will lead to:_______
    10·1 answer
  • “EBIT is generally considered to be independent of financial leverage, because EBIT is the result of a firm’s operating effectiv
    13·1 answer
  • When a corporation sells stock to the general public for the first time, it is referred to as a(n)?
    13·1 answer
  • For the past year, lp gas, inc., had cash flow from assets of $38,100 of which $21,500 flowed to the firm's stockholders. the in
    14·1 answer
Add answer
Login
Not registered? Fast signup
Signup
Login Signup
Ask question!