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
miss Akunina [59]
3 years ago
10

1. Nunes, Orta and Paulo are partners providing engineering services. Relevant data regarding income-sharing relationships and c

apital balances are as follows: Partner Capital Balance Income Share Nunes $ 250,000 20% Orta 180,000 30% Paulo 150,000 50% Totals $ 580,000 100% 2. Orta decides to retire and receives $159,000 in cash from the partnership. If the bonus method is used to account for the retirement, Paulo's capital balance after Orta's retirement is: A. $135,000 B. $139,500 C. $160,500 D. $165,000
Business
1 answer:
Bas_tet [7]3 years ago
5 0

Answer:

D) $165,000

Explanation:

Partner        Capital Balance             Income Share

Nunes              $250,000                        20%

Orta                  $180,000                         30%

Paulo                $150,000                         50%

Totals               $580,000                       100%

Orta's balance - capital balance = $180,000 - $159,000 = $21,000 which will increase the partnership's total capital balance

partnership's capital balance = $421,000

the extra $21,000 will be divided according to each remaining partner's income distribution:

  • Paulo = (50%/70%) x $21,000 = $15,000
  • Nunes = (20%/70%) x $21,000 = $6,000

Paulo's capital balance = $150,000 + $15,000 = $165,000

You might be interested in
Bob is 46 and made $45,000 in wages in 2017. he divorced in 2014 and has not remarried. he pays all the cost of keeping up his h
allochka39001 [22]
<span>Bob can claim Sara, but not Joan. To qualify for the Earned Income Credit, a child must be under the age of 19 (or under 24 if a student) or disabled, a child or direct descendant including grandchildren, living as a resident in your home with you for over half the year, having a valid social security number, and not claimed by someone else. Joan is not disabled or under 19, so she does not qualify. Sara is a direct descendant of Bob under 19 with a valid SSN who lives with him more than half the year, so she qualifies as long as Joan does not claim her.</span>
8 0
3 years ago
Read 2 more answers
The government tax for a sole proprietorships and a partnership is classified under
guapka [62]

Answer:

the answer is personal income

7 0
3 years ago
Read 2 more answers
You are the Economic Consultant for Zuku Farms Ghana Limited. Zuku produces cowpea in a community
Eva8 [605]

The answer and explanation to part 1 is given in the attachment.

Note:

Also, The complete part a question is attached.

4 0
3 years ago
Senator dogood is pushing for the construction of a new military base in his state even though, from the standpoint of national
Katarina [22]
This is a classic example of what is termed "Pork"  or "Pork barrel politics".  Pork is when a legislator tries to divert federal funds to projects in their districts or State.  These funds provide jobs and income for his constituents who the will repay him with votes in the next election.
5 0
3 years ago
Your friend is having trouble saving money. How can you teach them the “pay-yourself-first principle”? Do you think this is an i
BigorU [14]
I think this is important without a doubt . You might need to use that money someday for yourself but won't have it because you spent it on a HUGE list of groceries. If you put some money aside for yourself, you will have money that your allowed to do anything with (saving, buying clothes, buying cars, etc.) You should always save some of your payment that way you always have extra money in case of any money emergenies or such. 
4 0
4 years ago
Other questions:
  • A disadvantage of static budgets is that they a.do not allow for possible changes in activity levels b.show the expected results
    8·1 answer
  • Company XYZ is looking for a Finance/Accounting intern. The student filling this position will handle a wide range of important
    15·1 answer
  • The blackwell group is unable to obtain financing for any new projects under any circumstances. which term best applies to this
    9·1 answer
  • Sales representatives at the HomeWork Helper Appliances Store work hard to develop a close relationship with their customers and
    11·1 answer
  • For an investment to be classified as a current​ asset, A. the investment must be easily convertible to cash. B. the investor mu
    5·1 answer
  • Suppose that electricity producers create a negative externality equal to $5 per unit. Further suppose that the government impos
    12·2 answers
  • Which loan type requires you to make loan payments while you’re attending school?
    5·2 answers
  • At the beginning of the year, American International had inventory worth $325,500 at cost. At the end of the year, the cost valu
    15·1 answer
  • Suppose that you are a DBA. What data dimensions would you describe to top-level managers to obtain their support for data admin
    14·1 answer
  • What business should be undertaken is a part of the planning conducted as part of a single use plan?
    12·1 answer
Add answer
Login
Not registered? Fast signup
Signup
Login Signup
Ask question!