40 dollars if a new haircut 10 for a tape up or fix up.
Profits should be divided among the partners according to their share of the ownership, as specified in their partnership agreement.
<h3>The partnership agreement</h3>
A partnership is an arrangement between two or more people to oversee business operations and share its profits and liabilities. In a general partnership company, all members share both profits and liabilities. Professionals like doctors and lawyers often form a limited liability partnership.
If there is no written or oral agreement among the partners, then under common law, each partner is to receive equal profits and losses.
The ability of each partner to bind the partnership to contracts is called mutual agency.
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I don’t get this answer but ok
The correct answer is letter d. Automobile grease. Automobile grease is recommended for use in gearboxes. Grease is considered a semisolid lubricant. It literally consists of soap emulsified with vegetable oil and mineral oil. The <span>feature of greases is that they possess a high initial </span><span>viscosity.</span>
Answer:
Cost Method
Explanation:
1. When considering whether to account for its investment in Marlon under the equity method, Miller’s management should apply 'Cost Method' because 'equity accounting method' is should only be used when the company has a significant interest in Marlon which is assumed to be 20% of its shareholding.
2. If we assume the use of equity method then.
investment to be reported in its 2018:
A. Income statement
: This will be a single line to show the '<u>share of associate's profit</u>' which is derived by multiplying the percentage ownweship by the investee's profit amount: 16.67%* 12 = $2million
B. Balance sheet
: This will show the carrying value of the investment under long term assets, after fixed assets before current assets. The value will be:
1. The purchase consideration of $19m
(+)
2. The share of associate's profit of $2m
(-)
3. The amount of dividends received of $6m
Therefore the carrying value of the investment in the balance sheet will be $15 million
C. Statement of cash flows: The statement of cashflows will only show the receipt of cash for the dividend of $6million from Marlon, in the 'investing activities' section, as an inflow.
