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
tatuchka [14]
3 years ago
13

The partnership agreement of J. Hansen and D. Hernandez reflects differences in service and capital contributions as follows: (1

) annual salary allowances of $30,000 to Hansen and $10,000 to Hernandez; (2) annual interest allowances of 10% of a partner's beginning-year capital balance, and (3) equal share of any remaining balance of income or loss. Both partners had beginning-year capital balances of $50,000. In the first year, the partnership makes $100,000. How much income would be allocated to Hansen?
Business
2 answers:
jasenka [17]3 years ago
6 0

Answer:

$60,000

Explanation:

Hansen's annual salary allowance= 30,000

Hernandez's  annual salary allowance= 10,000

annual interest allowance of Hensen= 0.1 × 50,000= 5000

annual interest allowance of Hernandez= 0.1 × 50,000= 5000

Remaining balance=100000- 5000-5000-30000-10000= 50000

Share of each partner from remaining balance= 25000

Hensen's income= 25,000+ 5000+ 30000= 60,000

exis [7]3 years ago
5 0

Answer:

$60,000 allocated to Hansen

Explanation:

total income generated by the partnership: $100,000

  • - salary allowance Hansen = ($30,000)
  • - salary allowance Hernandez = ($10,000)
  • - interest on capital balance Hansen = ($5,000)

<u>- interest on capital balance Hernandez = ($,5000)   </u>

net profit to be distributed = $50,000

profit distribution:

  • $25,000 to Hansen
  • $25,000 to Hernandez

Total income allocated to Hansen = salary + interests + profit distribution = $30,000 + $5,000 + $25,000 = $60,000

Total income allocated to Hernandez = salary + interests + profit distribution = $10,000 + $5,000 + $25,000 = $40,000

You might be interested in
Mayfield Company sells two products, Blue models and Plaid models. Blue models sell for $43 per unit with variable costs of $30
alekssr [168]

Answer:

Break-even point in total units=  951.7units

Explanation:

<em>Break-even point is the level of activity at which a firm must operate such that its total revenue will equal its total costs. At this point, the company makes no profit or loss</em>.

It is calculated using this formula:

<em>Break-even point (in units) = Fixed cost/ average contribution per unit</em>

                                                          <em>  Blue                          Plaid</em>

Contribution per unit                43-30 = 13                   52-45 = 7

<em>Average contribution per unit </em>

= ( (13× 4) + (7×5) )/9

= $ 9.66 per unit

<em>Break-even point in total units</em>

= $9200/$ 9.66

= 951.7units

Break-even point in total units= 951.7units

           

6 0
3 years ago
What is a minimum balance? A. The process of balancing your checkbook register against your bank statement B. The largest number
Leno4ka [110]

Answer:

What is a minimum balance?

D. The smallest amount of money you can keep in a bank account

Explanation:

For bank accounts, the minimum balance is the minimum dollar amount that a customer must have in an account to receive some service benefit, such as keeping the account open or receiving interest

3 0
3 years ago
Read 2 more answers
________ is the internal operation that arranges information resources to support business performance and outcomes
Shkiper50 [21]
Information management
7 0
3 years ago
When a company assigns the costs of direct materials, direct labor, and both variable and fixed manufacturing overhead to produc
Serhud [2]
I would think it might be, "absorption costing."
4 0
3 years ago
For the current year, David has wages of $80,000 and the following property transactions:Stock investment sales— Long-term capit
skad [1K]

Answer:

Option (c) is correct.

Explanation:

Given that,

For the current year,

Wages = $80,000

Long-term capital gain = $9,000

Short-term capital loss = $12,000

Loss on sale of camper (purchased 4 years ago and used for family vacations) = $2,000

David's AGI for the current year:

= Wages - Short-term capital loss + Long-term capital gain

= $80,000 - $12,000 + $9,000

= $77,000

8 0
3 years ago
Other questions:
  • Which of the following is a condition that triggers the penalty for negligence or intentional disregard? 1) the taxpayer underst
    13·1 answer
  • Phoenix Pump and Filter projects that the cost of steel bodies for Model R910 valves will increase by $2.50 every 3 months. If t
    8·1 answer
  • *ECONOMICS*
    6·1 answer
  • What is the current price for a bond worth $4,000 that has a price quote of 50?
    8·1 answer
  • Question: Do you think people have one true calling in life or are we all multipotentialites?
    8·1 answer
  • Changes in aggregate demand
    9·1 answer
  • Which step minimizes project risks?
    15·2 answers
  • Phyllis works for a corporation that recently fired three top managers who were caught using the company credit cards to lavishl
    5·1 answer
  • Question 1 (2 points)
    14·1 answer
  • Item7
    6·1 answer
Add answer
Login
Not registered? Fast signup
Signup
Login Signup
Ask question!