Answer:
Partners Dennis and Lilly have decided to liquidate their business. The following information is available:
Cash $100,000 Accounts Payable $100,000
Inventory $200,000 Dennis, Capital $120,000
Lilly, Capital $80,000
$300,000 $300,000
Dennis and Lilly share profits and losses in a 3:2 ratio. During the first month of liquidation, half the inventory is sold for $60,000, and $60,000 of the accounts payable is paid. During the second month, the rest of the inventory is sold for $45,000, and the remaining accounts payable are paid. Cash is distributed at the end of each month, and the liquidation is completed at the end of the second month.
1. Using a safe payments schedule, how much cash will be distributed to Dennis at the end of the first month?
a. $36,000
b. $64,000
c. $60,000
d. $24,000
2. Using a safe payments schedule, how much cash will be distributed to Lilly at the end of the first month?
a. $40,000
b. $24,000
c. $64,000
d. $16,000
Answer:
A. Organization
Explanation:
The organization and management section outlines the hierarchy of the people involved in the business. It provides the company's organizational structure in a chart format. This section detail the management team, internal and any external human resources that the company uses or intends to use. It may list their names and remunerations paid to each of them.
The organization section also defines how the different roles relate to each other when executing the business mandate.
Answer: Contract is voided
Explanation:
From the question, we are informed that Jillian and Chase are making a contract in which Jillian ships beaver pelts to Chase, who will then makes the pelts into hats to sell.
We are further told that a year into their contract, it becomes illegal to buy or sell beaver pelts in the United States. Based on the scenario explained, the contact will be voided.
A void contract is referred to as a formal agreement that cannot be enforceable and is not legitimate. Since it is illegal to either purchase or sell beaver pelts, it means that the context cannot be carried out anymore and should the be void.
<span>on a journey of life discovery, abandoning the way of life that his father would have preferred. Mr Yamada always dreamed that his son would follow in his footsteps and become an expert gardener, but Hiro, to his father's great dismay, had other plans. Little did Mr. Yamada know, his son Hiro's calling was not too different than his father's vision for his son. Hiro's calling and desire to explore all things scientific would eventually lead him to be the greatest agricultural scientist of his time. His discoveries and inventions would allow for, among many other things, the cultivation of the most spectacular cherry tree blossoms ever seen.</span>
