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Answer:
The profit is shared among the partners according to the ratio given in the partnership deed.
This can be agreed in two ways according to the agreement deed:
1) The profits could be shared according to the partnership deed equally or whatever ratio is given in the deed.
2) As Lyle provides services as an architect, draftsperson, and business manager he can be paid separately for his services . Suppose he is paid $ 50,000 then the profit can be shared after deduction of the salary in the profit sharing ratio, which would be $ 120,000 - $ 50,000 = $ 70,000
in the ration of 3:1 then Raymond would get $ 52,500 and Lyle $ 17,500 Plus Salary $ 50,000.
Hello,
The sensitivity of consumers to price changes is measured by the <span>price elasticity of demand
Hope this helps
~HotTwizzlers</span>
Answer:
Please see explanation
Explanation:
The following journal entries shall be recorded by the Pina Inc in its accounts for the transactions mentioned in the question:
July 1, 2020 Debit Credit
Treasury shares $9,048
(104*87)
Bank $9,048
(Reacquiring of 104 shares at $87 per share)
September 1, 2020 Debit Credit
Bank $5,670
(63*90)
Treasury shares $5,481
(63*87)
Paid in capital $189
(5,670-3,567
(Reissuing of 63 shares at $90 per share)
November 1, 2020 Debit Credit
Bank $3,403
(41*83)
Paid in capital $164
(3,567-3,403)
Treasury shares $3,567
(41*87)
(Reissuing of 41 shares at $83 per share)
The answer is Finder. (It's actually kind of annoying to OCD people like myself, haha)
Hope this helped! Good luck! :)
