They can afford top notch healthcare
Complete question:
Tim and Michelle have decided to form a partnership with a 60/40 partnership interest ratio. Tim contributes $7500 cash and merchandise inventory with a market value of $1500. While journalizing this transaction ________.
A) Tim, Capital will be debited for $9000
B) Tim, Capital will be credited for $9000
C) Tim, Capital will be credited for $6000 and Michelle, Capital will be credited for $4500
D) Tim, Capital will be debited for $6000 and Michelle, Capital will be debited for $4500
Answer: Tim, Capital will be credited for $9000
Explanation: Tim's total contribution towards the partnership will be recorded as his capital. Since he has contributed $7,500 worth of cash, and merchandise inventory with a market value of $1,500. The market value of the merchandise inventory and the cash contributed adds up towards his capital contribution. This is $7,500 + $1,500 which sums up to a total of $9,000.
Trade barriers. There are no barriers blocking them from trade.
<span>1.
</span>What
percent of customers bought anything from the last catalog?
Fom
this last catalog, 2.5% of the costumers bought.
<span>2.
</span>What
was the average $ order size bought from the last catalog across all 96,551
customers?
<span>The
average dollars ordered from this catalog was $104.24 per buying customer.</span>
Answer:
A liability account in the balance sheet.
Explanation:
When rent is collected in advance, the entries required to be recognized at the point of collection is as follows;
Debit Cash account
Credit Unearned/Deferred rental revenue
The cash account is an asset while the Unearned/Deferred rental revenue is a liability account.
As such, the collection of rent in advance is A liability account in the balance sheet.
