Answer:
1. a GENERAL partner
2. a LIMITED partner
Explanation:
A GENERAL partner has responsibility or liability for losses beyond their investment. They are bound up to the extent of their personal assets incase the partnership is insolvent. They are also responsible in the management and decision-making process in the operation of the partnership. A LIMITED partner on the other hand is only liable in the partnership’s losses up to the extent of his investment in case of partnership’s insolvency. But a limited partner should NOT participate in the management and decision-making process of the operation in the partnership for him to be not liable up to the extent of his personal asset. A limited partner should also be recorded in the articles of the partnership as “LIMITED PARTNER”, otherwise he is liable as general partner.
Answer:
$739.72 ≈ 739.72
Explanation:
we can use an excel spreadsheet and the present value function to calculate the expected price of each bond ⇒ =PV(rate,nper,pmt,fv,[type])
- fv = $1,000
- pmt = $1,000 x 7.25% x 1/2 = $36.25
- nper = 60
- rate = 10% / 2 = 5%
- present value = ?
=PV(5%,60,36.25,1000) = -739.72 since excel calculates the initial investment, it is always negative, so we just change the sign.
Answer:
$6,000
Explanation:
When a company makes sales on account, debit accounts receivable and credit sales. Based on assessment, some or all of the receivables may be uncollectible.
To account for this, debit bad debit expense and credit allowance for doubtful debt. Should the debt become uncollectible (i.e go bad), debit allowance for doubtful debt and credit accounts receivable.
Since the Allowance for Doubtful Accounts has a credit balance of $1,200 before adjustment at December 31, 2016, the additional amount to be allowed
= $7200 - $1200
= $6000
This will be posted as
Debit Bad debt expense $6000
Credit Allowance for doubtful debt $6000
Answer:
The correct option is D,25000 machine hours
Explanation:
Department 2 machine hours can be computed using the formula for plant-wide overhead rate, which is given below:
Plantwide overhead rate = Total Manufacturing Overhead /Total Machine hours
Plantwide overhead rate is given as $10
Total manufacturing overhead=$250000+$150000
=$400000
$10=$400000/Total Machine Hours
by cross-multiplication
Total machine hours=$400000/$10
Total machine hours is 40000 hrs
Total machine hours=machine hrs in Dept 1+machine hrs in dept 2
40000=15000+machine hrs in dept 2
Machine hrs in dept 2=40000-15000
Machine hrs in dept =25000 hrs
Answer:
I might be wrong but I beleive the answer is cytoskeleton