Answer:
The capital deficiency of $33,000 will be shared between Turner and Roth in the proportion of their income and loss sharing ratio of 2:3.
Turner will need to further contribute $13,200 ($33,000 x 2/5)
Roth will contribute $19,800 ($33,000 x 3/5)
Lowe is a limited partner and will not contribute to the capital deficiency.
Explanation:
Lowe as a limited partner is a part-owner of the partnership but his liability for the firm's debts cannot exceed $32,000 being the amount that has invested in the company. As a silent partner, Lowe does not participate in the management of the company.
The Limited Partnership of Turner, Roth, and Lowe is a partnership consisting of general partner(s) like Turner and Roth, who manage the business and have unlimited personal liabilities for the debts and obligations of the Limited Partnership and Lowe as the limited partner. Whereas, Turner and Roth are in charge of the management of the company, Lowe is a silent partner.
Proportional tax is what we call the tax that is set
to be fixed, regardless of what an individual’s taxable base amount is. An example
of such a tax is sales tax, which remains the same for all income levels.
I need the boxes in order to help.
Answer:
C is Currency in circulation
M1 is Coins, Currency, money is checking account, travelers checks etc. This basically include all units of money which are highly liquid and can be used at an instant.
M2 includes M1 and certain units of money which are less liquid e.g. savings, time deposits, term deposits etc.
Here, John is withdrawing $100 from his checking account and depositing in savings account hence this will decrease the M1 since M1 does not include savings account. There will not be any change in M2 since both checking and savings account are a part of that.
Since this transaction does not include currency in circulation, there will be no impact on C.
Explanation:
Answer:
D)the cost of a dinner at a restaurant
Explanation:
GDP which means Gross domestic product can be regarded as the monetary value of finished goods as well as services that is been produced within the country at a particular period of time. The 3 types of GDP are
✓Real Gross Domestic Product.[ occur after inflation has been considered)
✓Nominal Gross Domestic Product.(with normal price)
✓Gross National Product (GNP)
Therefore, Out of the given options, the only one that is included in GDP is "the cost of a dinner at a restaurant".
