From the information given, the balance that will be in the capital account of Thurman at the end of the second year will be $132860.
The partners account at the end of the second year for Thurman will be calculated thus:
- Beginning capital = $126100
- Add: Net income = $19760
- Less: Drawings = $13000
Therefore, the balance in the account will be $132860.
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I took the test. The answer is A. Accounts Receivable for $530.
Brainliest please?
Answer:
A cooperative effort among two or more organizations that share a common interest in a business enterprise or undertaking.
Explanation:
A joint venture is defined as a business agreement where two or more parties pool their resources together to achieve a common goal. Usually profits and losses are shared equally among the parties unless there is an agreement to share otherwise.
The joint venture is an independent entity that is seperate from its owners. That means any liability of the joint venture is not binding on the parties involved.
Answer:
The prize is worth $3,992.71
Explanation:
Giving the following information:
Cash flow= $1,000 per year for 5 years
Interest rate= 8%
To calculate the value of the prize today, first, we need to calculate the final value:
FV= {A*[(1+i)^n-1]}/i
A= annual payment
FV= {1,000*[(1.08^5)-1]}/0.08
FV= $5,866.60
Now, the present value:
PV= FV/(1+i)^n
PV= 5,866.6/ (1.08^5)
PV= $3,992.71
