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boyakko [2]
2 years ago
13

The following condensed balance sheet is for the partnership of Hardwick, Saunders, and Ferris, who share profits and losses in

the ratio of 4:3:3, respectively:
Cash $83,000 Accounts payable $208,000
Other assets 765,000 Ferris, loan 44,000
Hardwick, loan 34,000 Hardwick, capital 280,000
Saunders, capital 180,000
Ferris, capital 170,000
Total assets $882,000 Total liabilities and capital $882,000
The partners decide to liquidate the partnership. Forty percent of the other assets are sold for $240,000. Prepare a proposed schedule of liquidation at this point in time.
Business
1 answer:
PIT_PIT [208]2 years ago
3 0

Answer:

Here the answer is given as follows,

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In an open economy, gross domestic product equals $2,450 billion, consumption expenditure equals $1,390 billion, government expe
N76 [4]

Answer:

$735 billion

Explanation:

Calculation to determine the national saving

Using this formula

National saving =Gross domestic product-Consumption expenditure-Government expenditure

Let plug in the formula

National saving=$2,450 billion-$1,390 billion- $325 billion

National saving=$735 billion

Therefore the national saving is $735 billion

7 0
3 years ago
What kind of policy can a company implement that can help diminish the activity of sending unsolicited email?
klemol [59]

Answer:

anti-spam policy

Explanation:

Spam emails are unsolicited emails that are usually sent to a large number of people. Therefore, if the company is trying to reduce unsolicited emails (spam) it should carry out an anti-spam policy.

The problem with spam is that it creates a negative image of the company, since current or potential clients can get annoyed by receiving so many unsolicited emails with advertisements or promotions. Instead of helping the company, spam email damages its.

8 0
2 years ago
On February 1, a seller paid $1,140 in annual property tax for the current calendar year. He sold the house with the closing set
Vera_Pavlovna [14]

<u>Given:</u>

Annual property tax = $1,140

Number of days = 91

<u>To find:</u>

Seller's credit for property tax

<u>Solution:</u>

The following is the calculation of the seller credit for property taxes,

\text{Seller credit for property taxes} = \text{Total tax}\times \frac{\text{Number of days}}{360}

On plugging-in the values we get,

\text{Seller credit for property taxes} = \$1,140\times\frac{91}{360}

\Rightarrow \$1,140\times0.25278 = \$288

Therefore, the seller's credit for property taxes is $288.

6 0
3 years ago
According to O*NET, what are common skills needed by Hotel, Motel, and Resort Desk Clerks? Check all that apply.
Allushta [10]

i would think every one of them expect for 1 and 4.. Because 4 is just something we all learn

5 0
2 years ago
Read 3 more answers
On October 1, 2018, Iona Frisbee Co. issued stock options for 300,000 shares to a division manager. The options have an estimate
Gemiola [76]

Answer:

$300,000

Explanation:

Option expenses to be recognized in the first year ,

= \frac{N\ *\ FV}{Total\ vesting\ period}    ×  period elapsed   - Expenses already recognized

wherein N = No of options expected to be vested

              FV = Fair value on the grant date

              Vesting period = The time period after which the options can be exercised

Thus, after the first year, employee compensation expenses to be recognized

= \frac{300000 *\ 3}{3\ years} × 1 year = $300,000 - 0 = $300,000

Similarly, for the second year, option expenses to be recognized would be,

= \frac{300000 *\ 3}{3\ years}  × 2 years - $300,000 =  $300,000

Similarly for the third year

= \frac{300000 *\ 3}{3\ years} × 3 years - ($300,000+ 300,000)  = $300,000

The journal entry to be passed each year would be

Stock Option Compensation Expense A/C   Dr. $300,000

                           To Stock Options A/C                        $300000  

(Being stock option expenses for the year recognized)

5 0
2 years ago
Read 2 more answers
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