Answer:
The combined total capital that would be recorded on the partnership books for the two partners is $79,000
Explanation:
Partnership : In partnership, there are two or more members who are called partners which are ready to share the profit or loss percentage according to their agreed ratio
The combined total capital for both partners is shown below:
= Contributed cash + truck fair value + garage fair value
= $8000 + $ 16,000 + $55,000
= $79,000
The other cost like purchase price, depreciation, construction cost is irrelevant for computation. Thus, these cost will not be considered.
Hence, the combined total capital that would be recorded on the partnership books for the two partners is $79,000
The main difference between a general partnership and a limited partnership is that "<span>A general partnership has unlimited liability for all partners while a limited partnership has limited liability." In addition, the liability of the personal assets in a general partnership is its obligation.</span>
Answer:
Salary and Commission compensation benefit has its pros and cons. However, The Company that adopts Salary Compensation benefit might be making a mistake.
Explanation:
If you pay salesmen a straight salary, some may have limited motivation to exceed basic expectations. However, commission based remuneration is pro performance in that drive salesmen to set more aggressive goals, work through obstacles and rejection to meet their target for a particular period.
Businesses that pay fixed salaries incur higher overhead costs because you have to pay whether you are making profits or not. But the case is different in Commission based compensation benefit where the risk is shared and commission is only paid when money is made.
Answer:
Under north Carolina's laws, the developer must refund the buyer's money within a 30 day period since the purchase date. North Carolina law also sets a deadline of 5 calendar days to cancel a timeshare contract, so this buyer barely made it on time. A buyer cannot waive his right to cancellation, even if the option is not included in the contract.
Answer: It should shot down immediately.
Explanation:
If the market price is equal to average cost at the profit-maximizing level of output, then the firm is making zero profits. If the market price that a perfectly competitive firm faces is below average variable cost at the profit-maximizing quantity of output, then the firm should shut down operations immediately.
