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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)

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Answer:

<em>Economic growth refers to a steady increase in the production of goods and services in an economic system.</em><em> </em><em><u>True</u></em>

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2 years ago
Suppose bundle A contains 5 CDs and 5 DVDs and bundle B contains 2 CDs and 6 DVDs. If a consumer is able to rank different combi
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Answer:

E) a, b, and c are possible.

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3 years ago
Carter Industries has two divisions: the West Division and the East Division. Information relating to the divisions for the year
anyanavicka [17]

Answer:

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Segment margin is derived by deducting all expenses that are directly traceable to the segment and it does not include corporate common expenses.

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Segment Margin               <u>$81,000</u>

So, Carter's segment margin for the West Division is $81,000.

8 0
3 years ago
How would you build a culture of quality in an organization such as arnold palmer hospital?
77julia77 [94]

Explanation:

An organizational culture must be based on values ​​of integrity, ethics and reliability. Through these values, organizations achieve several benefits that directly impact the internal and external environment.

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Ethics must be applied to all organizational processes and in all hierarchies, the relationship between boss and employees, as well as with suppliers and customers must be based on ethical values ​​that promote equality, respect and security of the rights of each individual.

And reliability is achieved through good practices in society and well-established values, which demonstrate good corporate governance and socio-environmental development practices.

In a hospital, for example, it is necessary for the organizational culture to be based on excellent service, in addition to effective communication, reliable professionals, quality equipment, problem solving staff, hygiene, etc., which are values ​​that demonstrate the values ​​and commitment of the institution with patient health and public service.

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If the supply of a product decreases and the demand for that product simultaneously increases, then equilibrium: price must rise
MArishka [77]

Answer:

The correct answer is: price must rise, but equilibrium quantity may rise, fall, or remain unchanged.

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If the supply of a product decreases the supply curve will shift to the left. At the same time, if there is an increase in demand, the demand curve will move to the right. This simultaneous shift in both demand and supply will lead to an increase in the price of the product.  

The change in the quantity demanded will depend on the extent of change in demand and supply.

If both changes by the same proportion the equilibrium quantity will remain the same. If demand increases more than the decrease in supply the equilibrium quantity will increase. If the demand increases less than decrease in supply, the equilibrium quantity will fall.

8 0
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