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
nadezda [96]
3 years ago
9

Crane Co. reports net income of $64,000. Partner salary allowances are Pitts $13,000, Filbert $4,000, and Witten $8,000. Indicat

e the division of net income to each partner, assuming the income ratio is 51 : 26 : 23, respectively.
Business
1 answer:
Dafna1 [17]3 years ago
6 0

Answer:

Pitts = $19,890

Filbert = $10,140

Witten = $8,970

Explanation:

First, calculate the distributable income

Distributable Income = Net income - Total salary allowances = $64,000 - ( $13,000 + $4,000 + $8,000 ) = $64,000 - $25,000 = $39,000

Now calculate the net income share of each partner using following formula

Share = Distributable profit x Income ratio

Pitts = $39,000 x 51% = $19,890

Filbert = $39,000 x 26% = $10,140

Witten = $39,000 x 23% = $8,970

You might be interested in
Quarry Corp. has the following costs related to a mine it acquired this year. Cost of land and natural resource rights $200,000
frozen [14]

Answer:

$375,000

Explanation:

The computation of the amount included in the natural resource is shown below:

= Cost of land & natural resource rights + cost of extraction during year + equipment used for mining + exploration & drilling cost

= $200,000 + $35,000 + $100,000 + $40,000

= $375,000

Hence, all the cost is inlcuded for natural resource except asset retirement obligation for restoring the land as this is not relevant so we ignored it

8 0
3 years ago
Benchmarking involves:
creativ13 [48]

Answer:

1. comparing how different companies perform various value chain activities and then making cross-company comparisons of the costs and effectiveness of these activities.

Explanation:

Benchmarking -

It is the method of comparing the business performance and the process like the cost , time and quality .

Benchmarking is also known as process benchmarking , or , best practice benchmarking .

It is the comparison among various companies , that how the company performs various value chain activities .

Hence , from the question , the correct statement for the given term is ( 1. ) .

5 0
3 years ago
In which Step of production process are materials manipulated
12345 [234]

Answer:

tread count

Explanation:

different sizes

8 0
3 years ago
Shania operates an event-planning business and specializes in organizing corporate events. Her business is new but although she
kvasek [131]
I would say her best bet would be to attend her local networking events put on by the Chamber of Commerce or start her own as networking can work miracles by pooling the knowledge of various colleagues. Myself I helped start a networking breakfast club and have found work through it and also helped others in the club  to find work as well (engineers and geologists contracting and consulting). 
4 0
3 years ago
Mcdonald's, a fast food chain headquartered in the united states, applies the morality it practices in the united states to all
Helen [10]
<span>Mcdonald's, a fast food chain headquartered in the united states, applies the morality it practices in the united states to all foreign countries in which it operates. mcdonald's is adhering to "Moral Universalism". Moral Universalism is the need for a moral standard that is accepted by all cultures.</span>
3 0
3 years ago
Other questions:
  • Web hosts generally offer between ______ of free storage. Question 7 options: 10MB and 50MB 50MB and 100MB 100MB and 200MB 200MB
    10·2 answers
  • Key numbers that financial managers use to calculate ratios usually come from the firm’s
    12·1 answer
  • Bright Inc., a company exporting electrical appliances, fails to deliver a large shipment on time to a customer in a different c
    12·1 answer
  • The step in designing a customer value dash–driven marketing strategy in which a company divides a market into distinct groups o
    14·1 answer
  • Human resources issued a written workplace romance policy that forbids personal relationships between employees of significantly
    5·1 answer
  • McCarthy Company has inventory... McCarthy Company has inventory of 8 units at a cost of $200 each on October 1. On October 2, i
    12·1 answer
  • Andrew owns land (adjusted basis of $94,400) that he uses in his business. He exchanges the land and $47,200 in cash for a diffe
    8·1 answer
  • Vactin Motors, an automobile company, ties individual performance, profits, and other measures of employees' success to a partic
    8·1 answer
  • Researchers have found which of these to be the most popular downward influence tactics?
    9·1 answer
  • What does the information demonstrate about alex’s investments?
    11·1 answer
Add answer
Login
Not registered? Fast signup
Signup
Login Signup
Ask question!