Answer:
The financial statements effects of the appropriation are as follows:
a) Retained Earnings will reduce by $65,000 in the Income Statement and the Balance Sheet.
b) Cash balance will also reduce by $65,000 in the Balance Sheet.
Explanation:
Normally, partnerships can distribute or appropriate their profits according to their partnership agreements. However, there may be restrictive loan covenants that can specify how much profits partnerships can distribute among the partners. The purpose of such covenants is to ensure that the ability of the partnership to repay loans are not compromised through profit appropriations.
Financial institutions, therefore, to secure the loans advanced to businesses may include restrictive covenants. Some restrictive covenants may specify the minimum cash balance to maintain. Restrictive covenants, generally, remain measures to overcome unwanted business outcomes. It is a form of insurance against loan repayments.
Answer:
120%
Explanation:
Given net sales;
Year 1996 = $690000
Year 1997 = $730000
Year 1998 = $828000
With 1996 as the base year, it means the percentage of any year can be computed by dividing the net sales for that year with the net sales for 1996 and expressing the results as a percentage.
1998 sales as a percentage of the base represents
= $828000/$690000
= 1.2
Expressed as a percentage, this is 120%.
Answer:
Granite is a light-shaded molten stone with grains adequately huge to be obvious with the independent eye. It structures from the moderate crystallization of magma beneath Earth's surface. Stone is made basically out of quartz and feldspar with minor measures of mica, amphiboles, and different minerals. Granite slabs are gotten from unique locales that are known as quarries. Utilizing incredible machines, a mining organization mines and shoots crude rock out of the quarry. Processing Machines Cut the Slabs. After rock has first been mined out of the earth, it will be in an exceptionally harsh structure.
Explanation:
Answer:
No, Jim is not correct.
Explanation:
Betty will win this case.
Generally, the law encourages marriage as its policy. If there is any contract that prevent or restrict marriage in whatever way, such contract would be considered null and void because it is against the public policy.
Despite the above, contracts will be generally considered valid when they place reasonable restrictions on marriage. In this question, the restriction placed on Betty that she should get married until after her 22nd birthday is reasonable and has to be considered to be valid. Based on this, Betty has to be paid the $25,000 as laid down in the binding contract between the two parties.
Therefore, Jim is not correct.
Answer:
C. Increasing efficiency by allowing for greater specialization
Explanation:
A free economy is one where the forces of demand and supply determine production and consumption. The government or the central authority does not interfere with economic activities in a free economy.
In a free economy, the factors of production are held by the private sector. There is increased business competition as entrepreneurs have the freedom to open a business of their choice. Buyers have the liberty to buy from their preferred suppliers. Businesses are profit-motivated, which forces entrepreneurs to be creative and innovative to win customers and make more sales. They have to specialize and increase their efficiency to be more competitive.
