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
grin007 [14]
3 years ago
12

Henry Carr and Noreen Mason formed a partnership, dividing income as follows: annual salary allowance to Carr of $42,000; intere

st of 7% on each partner's capital balance on January 1; any remaining net income is divided equally. Carr and Mason had $63,000 and $147,000 in their January 1 capital balances, respectively. Net income for the year was $442,000. How much net income should be distributed to Carr
Business
1 answer:
Evgesh-ka [11]3 years ago
8 0

Answer:

$239,060

Explanation:

The computation of the net income distributed to Carr as follows;

<u> Particulars     Carr      Mason      net income distributed   Non-allocated </u>

Net income                                                                              $442,000

Salary

allowance     $42,000                  $42,000                            $400,000

Interest

on capital     $4,410   $10,290      $14,700                            $385,300

left amount  $192,650 $192,650  $385,300                        $0

Net income  $239,060

You might be interested in
The Megabux National Bank currently has deposits of $200 million. If the Fed establishes a reserve requirement of 12 percent, Me
scoundrel [369]

Answer:

Option (B) is correct.

Explanation:

Given that,

Megabux National Bank currently has deposits = $200 million

Fed establishes a reserve requirement = 12 percent

Therefore,

Reserves must be hold by the Megabux national bank against its deposits:

= Amount of Deposits × Required reserve ratio

= $200 million × 12 percent

= $200 million × 0.12

= $24 million

5 0
3 years ago
RISRS and Rewards of Information Systems: Mastery Test
jeka57 [31]

Answer:

A. giving proper training

Explanation:

A common issue in IT and change management is that employees create a barrier to change (implementing a new information system). Of course, everyone prefers to stay in their comfort zone, but most of the times it is essential to adopt changes effectively. so that the whole organization can progress.

Giving proper training is the answer, as their lack of confidence mainly originates from their own lack of confidence regarding the software know-how. When their self-esteem regarding the IS raises, they stop seeing it as a threat to their comfort zone and start seeing it as a tool that aids their work, the user confidence will increase.

Other answers are related to technical things that do not improve user confidence.

7 0
3 years ago
Read 2 more answers
True or false: A flexible budget reporting sales volumes at three different levels will have the same fixed costs.
lapo4ka [179]

Answer:

True

Explanation:

A flexible budget is a budget in which you modify the activity levels to reflect changes in sales to help the company adjusts to different circumstances that may occcur. Also, in this budget the fixed costs remain constant and the variable costs change with the activity levels. According to this, the answer is that the statement that says that a flexible budget reporting sales volumes at three different levels will have the same fixed costs is true.

5 0
3 years ago
Lower car insurance rates serve as a(n __________ for good driving.
Aliun [14]
Lower car insurance rates serve as a reason for good driving.
7 0
4 years ago
On July 1, 20X9, Link Corporation paid $340,000 for all of Tinsel Company's outstanding common stock. On that date, the costs an
likoan [24]

Answer:

Goodwill = 25,000

Explanation:

Goodwill is an intangible asset, is the differential reflected in a consolidated balance sheet immediately after the business combination between the purchase price of a company and the fair market value of identifiable assets and liabilities. Goodwill is recorded when the purchase price is higher than the sum of the fair value of all identifiable tangible and intangible assets purchased in the acquisition and the liabilities assumed in the process.

In this case:

Goodwill = Purchse Price - Net assets fair value

Goodwill = 340,000 - 315,000

Goodwill = 25,000

The difference between the book value and fair value of the acquired company are adjustments to the amount presented in the consolidated balance sheet.

6 0
3 years ago
Other questions:
  • How much money invested at 5% compounded continuously for 3 years will yield $820?
    10·2 answers
  • When a labor union and an employer cannot agree on the terms of a contract what often happens?
    10·1 answer
  • Suppose the price of hot wings is $10, the price of beer is $1, and the consumer’s income is $50. In addition, suppose the consu
    15·1 answer
  • How can you end a interview on a positive note
    6·1 answer
  • How was Rockefeller able to become so successful in the oil business? A. He was the only one to use railroads for shipping his o
    13·2 answers
  • The key to setting a price for a product is finding an approximate price level to use as a reasonable starting point. Four commo
    8·1 answer
  • Your brother is starting 9th grade next year and is thinking about going to college. What steps would you recommend he take?
    14·2 answers
  • Ok, so, theoretical question: If I bought the Mona Lisa legally, would anyone be able to stop me from eating it? Why or why not?
    6·1 answer
  • The Dennis Company reported net income of $50,000 on sales of $300,000. The company has average total assets of $500,000 and ave
    5·1 answer
  • We can express a firm in terms of a call/put option. In this context, the equity in the firm is like the (a) with its strike pri
    13·1 answer
Add answer
Login
Not registered? Fast signup
Signup
Login Signup
Ask question!