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
babymother [125]
2 years ago
8

Partnership records show the following capital balances at the date of Hopkin's withdrawal: M. Hammel, $80,000; D. Hopkins, $210

,000; and P. Houghton, $100,000. The three partners share income and loss equally. On December 31, Hopkins withdraws and agrees to take $230,000 cash in settlement of her capital balance. Prepare the December 31 journal entry for the partnership. Prepare the December 31 journal entry for the partnership.
Business
1 answer:
Anestetic [448]2 years ago
3 0

Answer:

Dr D. Hopkins, Capital 210,000

Cr P. Houghton, Capital 10,000

Cr M. Hammel, Capital 10,000

Cr Cash 230,000

Explanation:

Preparation of the December 31 journal entry for the partnership.

Based on the information given the December 31 journal entry for the partnership will be :

Dr D. Hopkins, Capital 210,000

Cr P. Houghton, Capital 10,000

(100,000-80,000/2)

Cr M. Hammel, Capital 10,000

(100,000-80,000/2)

Cr Cash 230,000

You might be interested in
All of the following are determinants of demand elasticity EXCEPT a. whether the purchase of the product can be delayed b. wheth
yKpoI14uk [10]

Answer:

The correct answer is option d. whether the product has utility.

Explanation:

The demand elasticity is a concept that explains the elasticity of the consumer in terms of buying a product while its price rises.

All of the factors given in the question are a part of this concept except whether the product has utility.

The reason is that when a consumer buys something, the utility of that desire is not measured. If people have a high demand elasticity, they would buy the most priciest of things which have no utility  as such.

3 0
2 years ago
Sam, Joe, Lynn, and Kori are four business colleagues traveling together on a business trip. There are four adjacent seats avail
Pepsi [2]

Answer:

  • A. Sam, Joe, Lynn, Kori
  • B. Kori, Lynn, Sam, Joe

Explanation:

The constraints we have are two in number.

1. Sam and Kori cannot sit next to each other

2. Lynn and Kori need to sit next to each other.

Both options A and B satisfy both these constraints because Sam and Kori are seated apart and Lynn and Kori are seated together.

Option C satisfies only one constraint which is that Kori is sitting next to Lynn. She is sitting next to Sam however so this option is wrong and by extension, so is option D as well.

4 0
3 years ago
Fast Auto Service provides a lubrication service for cars. It is known that the mean time taken for this
strojnjashka [21]

Answer:

The answer is below

Explanation:

The z core is used to determine by how many standard deviations the raw score is above or below the mean. The z score is given by:

z=\frac{x-\mu}{\sigma}\\\\where\ \mu=mean,\sigma=standard\ deviation, x = raw score

Given that mean (μ) = 15 minutes per car, standard deviation (σ) = 2.4 minutes.

1) For x > 18:

z=\frac{x-\mu}{\sigma} =\frac{18-15}{2.4} =1.25

From normal distribution table, P(x > 18) = P(z > 1.25) = 1 - P(z < 1.25) = 1 - 0.8944 = 0.1056

2) For x < 10:

z=\frac{x-\mu}{\sigma} =\frac{10-15}{2.4} =-2.08

From normal distribution table, P(x < 10) = P(z < -2.08) = 0.0188

3) For x > 12:

z=\frac{x-\mu}{\sigma} =\frac{12-15}{2.4} =-1.25

For x < 16:

z=\frac{x-\mu}{\sigma} =\frac{16-15}{2.4} =0.42

From normal distribution table, P(12 < x < 16) = P(z < 0.42) - P(z < -1.25) = 0.6628 - 0.1056 = 0.5572

6 0
2 years ago
why might the cost of a mortgage loan be greater than the cost of using unsecured corporate debt to finance corporate real estat
Zolol [24]

For real estate income property, mortgage loans are often made on a non-recourse basis. This means that the risk of default must be included in the mortgage interest rate.

<h3>What is a mortgage loan?</h3>

A mortgage is a form of loan used to purchase or maintain a home, land, or another type of real estate. The borrower agrees to repay the lender over time, often through a series of monthly payments divided into principal and interest. The property is subsequently put up as collateral for the loan.

Borrowers must apply for a mortgage through their preferred lender and meet specific criteria, such as credit score requirements and down payments. Mortgage applications are rigorously scrutinized before they reach the closing stage. Mortgage types vary according to the borrower's needs, such as conventional and fixed-rate loans.

To learn more about a mortgage loan, click

brainly.com/question/15082835

#SPJ4

8 0
1 year ago
The drive three has a long line of cars at the window what should the drive thru cashier do
Dimas [21]

Undoubtedly, cashiers have undergone some training and guidance. If they are newly hired, they will likely be trainees with instructors nearby to support them.

Cars are going nowhere, customers are waiting. Some people are more patient than others.

The best way to deal with long lines of cars is to not put yourself under pressure. This can be harder than it sounds, as it's mostly a learnable skill.

A job as a cashier like this is a great place to learn skills that will be very useful, both personally and professionally, for a lifetime.

Learn more about cashiers at

brainly.com/question/18637447

#SPJ4

4 0
2 years ago
Other questions:
  • In order to build profitable relationship with customers, it is important to decide whom it will serve. It does this by ________
    7·1 answer
  • You are a U.S.-based treasurer with $1,000,000 to invest. The dollar-euro exchange rate is quoted as $1.60 = €1.00 and the dolla
    9·1 answer
  • What is the purpose of the color coded tape located at the front entrance of
    11·1 answer
  • Carl, the information technology head at Cloud Denim, a clothing company, has to update the enterprise software system used by t
    8·1 answer
  • The inventory on hand at the end of 2019 for Reddall Company is valued at a cost of $94,000. The following items were not includ
    6·1 answer
  • rippett Industries manufactures cleaning products. During the year, the company spent $600,000 on chemicals and $728,000 on conv
    11·1 answer
  • Which best describes the role of financial planning?
    8·1 answer
  • Jeremy is working on a spreadsheet. Which part of the information processing cycle will justify Jeremy's use of the spreadsheet
    13·1 answer
  • Townson Company had gross wages of $200,000 during the week ended December 10. The amount of wages subject to social security ta
    8·1 answer
  • A type of process that creates one-of-a-kind products is:_________
    14·1 answer
Add answer
Login
Not registered? Fast signup
Signup
Login Signup
Ask question!