Answer:
d. $20,000
Explanation:
Loss on realization is shared by the partners in their profit sharing ratio. Upon termination of a partnership, all assets are realized and liabilities are paid off. The resultant surplus/deficit on realization is to be shared by the partners in their profit sharing ratio.
In the given case, partners are to be paid the balances standing to the credit of their capital accounts i.e total payment of $ 40,000 and $70,000 which is a total of $110,000
But the available cash balance being only $80,000.
Thus, the loss of $110,000 less $80,000 i.e $30,000 would be borne by the partners in their profit sharing ratio. The journal entry would be
Ames Capital A/C Dr.10,000
Barton's Capital A/C (2/3 of 30,000) Dr.20,000
To Loss on Realization A/C 30,000
(Being loss on realization account being borne by partners in their income sharing ratio of 1:2 recorded)
Answer:
$965 Unfavorable
Explanation:
The calculation of variable overhead rate variance for June is given below:-
Variable overhead rate variance = Actual variable overhead cost - (direct labor-hours × Variable overhead Standard rate
$11,861 - (2,420 × $5.30)
= $11,861 - $12,826
= $965 Unfavorable
Therefore for computing the variable overhead rate variance for June we simply applied the above formula.
The correct answer is false.
It is false that Kotter studied a number of successful general managers over a five-year period and found that they spend most of their time by themselves drawing up plans or worrying about important decisions
Philip Kottler has been considered to be a guru in management and marketing. He has spent many hours, days, and tears studying management styles, functions, and leadership in a considerable number of organizations and has realized the most important characteristics of a top management leader and modern marketing techniques in corporations.
His reconditions, written in some important and renowned books have become a "must-have" guide for modern leaders in the corporate world.
It involves processing speech with focused attention.
Requiring a signed contract prior to acquisition of assets is an example of a high-level business policy
<u>Explanation:
</u>
An asset purchase agreement (APA) is an understanding between a purchaser and a dealer that finishes terms and conditions identified with the buy and closeout of an organization's advantages.
It's essential to note in an APA exchange, it isn't fundamental for the purchaser to buy the entirety of the advantages of the organization. Truth be told, it's basic for a purchaser to bar certain benefits in an APA.
Arrangements of an APA may incorporate installment of price tag, regularly scheduled payments, liens and encumbrances on the benefits, condition point of reference for the end, and so on.
An APA contrasts from a stock buy understanding (SPA) where organization shares, title to resources, and title to liabilities are likewise sold. In an APA, the purchaser must choose explicit resources and keep away from repetitive resources.
These benefits are organized in a timetable to the APA. The purchaser in a SPA is acquiring portions of the organization. For this situation, order isn't essential because of move of organization's possession happens in its present condition. The APA is the lawful system for executing a corporate merger or obtaining.
The oil and gas industry doesn't recognize a benefit and stock buy in naming its related buy understanding. In this industry, in the case of buying resources or stock, the conclusive understanding is alluded to as the Purchase and Sale Agreement (PSA).