All categories

3 years ago

What is the preferred method of resolving a partner's deficit balance, according to the Uniform Partnership Act?

Business

1 answer:

olga_2 [115]3 years ago

3 0

Answer:

e. The partner with a deficlt balance contributes personal assets only If those personal assets exceed personal lablties.

Explanation:

The Uniform Partnership Act is a provision that resolves conflicts in a partnership that is not addressed in the partnership agreement.

The Act is used mostly with small and informal partnerships.

It has been adopted in all states except Louisiana.

Partners must settle their debts in order to redeem their interest in the partnership.

UPA provides that partner with deficit contributes personal assets only If those personal assets exceed personal liabilities.

You might be interested in

Fremont Enterprises has an expected return of 18 % and Laurelhurst News has an expected return of 21 %. If you put 43 % of your

Umnica [9.8K]

Answer: 19.29%

Explanation:

From the question, Fremont Enterprises has an expected return of 18% and 57% of the portfolio is put in Fremont. The portfolio return of Fremont will be the expected return multiplied by the weight. This will be:

= 18% × 57%

= 18 × 0.57

= 10.26%

We are also told that Laurelhurst News has an expected return of 21% and that 43% of the portfolio is put in Laurelhurst News. The portfolio return here will be the expected return multiplied by the weight. This will be:

= 21% × 43%

= 21% × 0.43

= 9.03%

The the expected return of the portfolio will now be:

= 10.26% + 9.03%

= 19.29%

4 0

3 years ago

The lowest point on a purely competitive firm's short-run supply curve corresponds to __________. a. the minimum point on its AT

3241004551 [841]

Answer: Option 'b' is correct.

Explanation:

The lowest point on a purely competitive firm's short run supply curve corresponds to the minimum point on its MC curve.

As we know the relation between ATC, AVC, AFC, MC.

1) when AC > MC then, MC rises,

2) When AC = MC, then AC reaches its minimum point.

3) When AC < MC , then MC falls.

And MC falls at higher rate than AC,

So, MC reaches its minimum point first and it is the lowest point for perfect competition.

Hence, Option 'b' is correct.

4 0

3 years ago

Byrd Company produces one product, a putter called GO-Putter. Byrd uses a standard cost system and determines that it should tak

torisob [31]

Answer:

Results are below.

Explanation:

Giving the following information:

Estimated direct labor hours= 135,000

Estimated varaible overhead= $337,500

Estimated fixed overhead= $540,000

To calculate the predetermined overhead rate, we need to use the following formula:

Predetermined manufacturing overhead rate= total estimated overhead costs for the period/ total amount of allocation base

Variable:

Predetermined manufacturing overhead rate= 337,500/135,000= $2.5 per direct labor hour

Fixed:

Predetermined manufacturing overhead rate= 540,000/135,000= $4 per direct labor hour

3 0

3 years ago

The first step in the screening process for potential markets and sites is to a. Identify the basic appeal of a market b. Select

koban [17]

C. The first step in the screening process for potential markets and sites is to identify the basic appeal of a market.

Identifying whether there is a fundamental demand for a business's product is the first step in looking for potential markets. screening process plays a key role in determining this fundamental appeal.

Then it also helps in choosing where to market or produce goods would be simple if all countries' business environments were the same. Managers could rely on statistics that track the state of the local economy and examine projected returns on investments.

To learn more about screening process refer here:

brainly.com/question/28099572

#SPJ4

6 0

1 year ago

On the first day of the fiscal year, Shiller Company borrowed $63,000 by giving a five-year, 12% installment note to Soros Bank.

lidiya [134]

Answer:

Bank A/c Dr $63,000

To Notes Payable $63,000

(Being the issuance of the installment note for cash is recorded)

Explanation:

The journal entry is shown below:

Bank A/c Dr $63,000

To Notes Payable $63,000

(Being the issuance of the installment note for cash is recorded)

For recording this transaction, we debited the bank account as it increased the assets account and at the same time it decreased the liabilities so the notes payable is credited

8 0

3 years ago