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
Anna [14]
2 years ago
13

Dividing Partnership Net Income Han Lee and Monica Andrews formed a partnership, dividing income as follows: Annual salary allow

ance to Lee of $32,000. Interest of 4% on each partner's capital balance on January 1. Any remaining net income divided to Lee and Andrews, 2:1. Lee and Andrews had $80,000 and $150,000, respectively, in their January 1 capital balances. Net income for the year was $64,000. How much net income should be distributed to Lee and Andrews? Lee: $fill in the blank 1 Andrews: $fill in the blank 2
Business
1 answer:
NikAS [45]2 years ago
5 0

Answer:

Han Lee and Monica Andrews Partnership

The net income that should be distributed to:

Lee = $50,400

Andrews = $13,600

Explanation:

a) Data and Calculations:

                                        Han Lee     Monica Andrews   Total

Capital accounts, Jan. 1  $80,000         $150,000        $230,000

Annual salary allowance  32,000                                      32,000

Interest on capital              3,200                6,000              9,200

Total allowances                                                               $41,200

Profit sharing                   15,200                 7,600            22,800

Net income                                                                      $64,000

Total distribution          $50,400             $13,600        $(64,000)

You might be interested in
Karolina has been working in integrated marketing communications for High Flying Kites Company. She is very conscious of how muc
Anit [1.1K]

Answer:

Database Marketing

Explanation:

According to my research on the different marketing methods, I can say that based on the information provided within the question the best communication method for achieving her goals would be Database Marketing. This is because this type of marketing technique uses databases to choose the right individual market segments and delivering their marketing message through those channels with the people that are already part of those market segments.

I hope this answered your question. If you have any more questions feel free to ask away at Brainly.

3 0
3 years ago
Read 2 more answers
For each of the following items before adjustment, indicate the type of adjusting entry (prepaid expense, unearned revenue, accr
igor_vitrenko [27]

Answer:

See explanation

Explanation:

(a) Assets are understated - If we do not adjust accrued revenue, the assets are understated. For example - if we do not add any outstanding rent revenue, the assets will become understated.

(b) Liabilities are overstated - If we do not adjust unearned revenue, the liabilities are overstated. For example - if we do not deduct any expired unearned revenue, the liabilities will become overstated.

(c) Liabilities are understated - If we do not adjust accrued expense, the liabilities are understated. For example - if we do not add any outstanding rent expense, the liabilities will become understated.

(d) Expenses are understated - If we do not adjust accrued expense and prepaid expense, the expenses are understated. For example - if we do not add any outstanding rent expense and expired prepaid expenses, the expenses will become understated.

(e) Assets are overstated - If we do not adjust prepaid expense, the assets are overstated. For example - if we do not deduct any expired prepaid insurance, the assets will become overstated.

(f) Revenue is understated - If we do not adjust accrued revenue and unearned revenue, the revenue is understated. For example - if we do not add any outstanding rent revenue and expired unearned revenue, the revenue will become understated.

3 0
3 years ago
A certain company reorders envelopes when it stock drops to 15 boxes, although demand for envelopes during lead time is normally
marissa [1.9K]

Question: The options were not given in the question. here are the options;

a. 50%

b. 75%

c. 5%

d. 95%

e. 25%

Answer:

The correct option is D. 95%

Explanation:

ROP = demand during lead time + (Z * standard deviation of lead time demand)

15 = 10 + (Z * 3)

Z = 1.667

For Z = 1.667, service level is nearly 95%

6 0
2 years ago
Read 2 more answers
Dominic heads the corporate communications department of Zookey Technologies. Eva is his least preferred coworker because her pe
Angelina_Jolie [31]

Answer:

The correct answer is A that is Relationship oriented leadership style.

Explanation:

Relationship oriented is an approach of the leadership style in which an individual or the person focuses or aim on the general well being as well as the motivation of the team members.

In this case, Dominic is most preferred in comparison to Eva as Dominic has a  pleasing personality and she is also helpful to other coworkers. So, she has a relationship-oriented style.

8 0
3 years ago
A company is evaluating a new 4-year project. The equipment necessary for the project will cost $3,500,000 and can be sold for $
tresset_1 [31]

Answer:

d) $677,532.

Explanation:

1.

Written down value of the equipment after 4 years = Cost x ( 100% - 1st year MACRS - Second-year MACRS - Third-year MACRS - Fourth-year MACRS ) = $3,500,000 x ( 100% - 20% - 32% - 19.20% - 11.52% ) = $604,800

2.

Now calculate the gain on the sale of equipment

Gain on the sale of equipment = Sale Price - Written down Value after 4 years = $715,000 - $604,800 = $110,200

3.

Tax owed = Gain on the sale x Tax rate = $110,200 x 34% = $37,468

After-tax salvage value = Sales price - Tax = $715,000 - $37,468 = $677,532

4 0
2 years ago
Other questions:
  • One of the key motives for mergers is​ ________. A. reducing the marginal tax rate B. to sell the assets of the target company t
    9·1 answer
  • Jack, Jamie, Ronnie, and Stephan own the only computer software manufacturing companies in the country. When Jack increases the
    11·2 answers
  • The board of directors of Orange Corporation, a calendar year taxpayer, is holding its year-end meeting on December 28, 2010. On
    15·1 answer
  • The English publisher of a book called Cambridge gave a New York publisher permission to sell that book any place in the world e
    8·1 answer
  • A ________ may be desirable as a market entry strategy if one company does not have the necessary financial
    8·1 answer
  • Assuming no employees are subject to ceilings for their earnings, Harris Company has the following information for the pay perio
    9·1 answer
  • • Land
    6·1 answer
  • A soybean farmer sells soybeans in a perfectly competitive market and hires labor in a perfectly competitive market. The market
    7·1 answer
  • Trace the evolution of legal status of American unions. What activities were restricted by laws and courts? Did constraints incr
    8·1 answer
  • I needd helpppp asappppp!
    12·1 answer
Add answer
Login
Not registered? Fast signup
Signup
Login Signup
Ask question!