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
AnnyKZ [126]
3 years ago
10

"Christie and Jergens formed a partnership with capital contributions of $300,000 and $400,000, respectively. Their partnership

agreement calls for Christie to receive a $60,000 per year salary. Also, each partner is to receive an interest allowance equal to 10% of a partner's beginning capital investments. The remaining income or loss is to be divided equally. If the net income for the current year is $135,000, then Christie and Jergens's respective shares are:"
Business
1 answer:
Katen [24]3 years ago
3 0

Answer:

The Christie and Jergens's respective shares are $92,500 and $42,500.

Explanation:

For computing the Christie and Jergens's respective shares, first, we have to compute the remaining income which is to be shared between these two partners. The computation is shown below:

= Net income - salary - interest on total capital

= $135,000 - $60,000 - 10% × ($300,000 + $400,000)

= $135,000 - $60,000 - $70,000

= $5,000

So, the remaining income would be divided equally between the partners

Now

Christie shares = Salary + interest on capital + remaining income

                         = $60,000 + ($300,000 × $10%) + $2,500

                         = $60,000 + $30,000 + $2,500

                         = $92,500

And, the Jergens shares  =  interest on capital + remaining income

                                          = ($400,000 × $10%) + $2,500

                                          = $40,000 + $2,500

                                          = $42,500

You might be interested in
Consider three different closed economies with the following national income statistics. Country A has taxes of $40 billion, tra
scoray [572]

Answer: option B

Explanation:

in A) budget deficit = G+Tr - T

= 30+20-40

= 10

In B) private saving , Y-C-T = 60

Y = C+G+I

So, C+G+I-C-T = 60

G-T = 60-40 = 20

Budget deficit= 20, HIGHEST

In C) Y = C+G+I+Tr - T

300 = 180+G+ 90 + 20-60

G = 70

So budget deficit= G-T

= 70-60

= 10

6 0
3 years ago
Earnings per share equals the: A. Total number of shares of preferred stock divided by earnings. B. Total number of shares of co
Reptile [31]

In this context, None of the given options is the formula to derive the earnings per share.

The Earnings per share refers to the portion of a firm's profit allocated to each outstanding share of common stock.  

  • The formula for deriving EPS in a company with preferred & common stock is <em>[[Net income - Preferred dividends) / Average outstanding common shares}</em>

<em />

Therefore, the Option E is correct.

Read more about this here

<em>brainly.com/question/16037989</em>

6 0
2 years ago
In one hour, the United States can produce 25 tons of steel or 250 automobiles. In one hour, Japan can produce 30 tons of steel
Whitepunk [10]

Answer:

For USA

Opportunity cost of 1 ton of steel = 250 / 25 = 10 automobiles

opportunity cost of 1 auto mobile = 25 / 250 = 0.1 ton of steel

For Japan

Opportunity cost of 1 ton of steel = 275 / 30 = 9.17 automobiles

opportunity cost of 1 auto mobile = 30 / 275 = 0.109 ton of steel

Japan will produce steel and US will produce automobile

option D is correct answer

Explanation:

3 0
3 years ago
Which of the following is true about how the "invisible hand" influences economic activity through prices when a product has low
Virty [35]

Answer:

The correct answer is c.

Explanation:

Since the point the text is mentioning is above the equilibrium point, we know that the Demand is lower than it should be, while supply is bigger.

In order to increase the demand and lower the supply, we need to decrease the price to the equilibrium price. This will increase the demand and lower the supply making them intersect and reach the equilibrium point, a point that the invisible hand is influencing.

I hope this helps!

8 0
3 years ago
Which best describes the relationship between total utility and marginal utility?.
Whitepunk [10]

Answer:

While total utility measures the aggregate satisfaction an individual receives from the consumption of a specific quantity of a good or service, marginal utility is the satisfaction an individual receives from consuming one additional unit of a good or service.

8 0
2 years ago
Other questions:
  • A merger between u.s. steel and general motors would be an example of a
    7·1 answer
  • Suppose Toyota built a new automobile plant in Mexico using Japanese management practices, Canadian capital, and Mexican labour.
    13·1 answer
  • You have $5,000 to invest in a stock portfolio. Your choices are Stock X with an expected return of 15 percent and Stock Y with
    6·1 answer
  • In an early U.S. Supreme Court interpretation of the commerce clause, the Court ruled that _______ could regulate labor relation
    12·1 answer
  • Exchange rate is currently $1.25 US per 1 Euro. Interest rate is 2% in the US and 1% in Eurozone. A bank is long a futures contr
    10·1 answer
  • Technical analysts consider the stock market to be strong when volume _________ in a rising market and _________ during a declin
    12·1 answer
  • Secured bonds are bonds that
    7·1 answer
  • On June 30, 2020, Lynch Co. declared and issued a 15 percent stock dividend. Prior to this dividend, Lynch had 50,000 shares of
    11·1 answer
  • Simone's (57) husband, Charles, died in 2017, and she has not remarried. Simone's mother, Lucy, lives in a nursing home. Lucy's
    10·2 answers
  • What is the difference between position management and job management.
    14·1 answer
Add answer
Login
Not registered? Fast signup
Signup
Login Signup
Ask question!