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3 years ago

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Business

1 answer:

Allisa [31]3 years ago

8 0

Answer:

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Explanation:

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Marina and Nolan formed the MN Partnership. Marina contributed $20,000 of cash in exchange for her 50% interest in the partnersh

Natasha_Volkova [10]

Answer:

A) $25,000.

Explanation:

Marina's adjusted basis for her partnership interest at the end of the year = $20,000 (Marina's cash contribution) + $5,000 (Marina's share in the partnership's net taxable income) - $8,000 (distributions received by Marina) + $8,000 (Marina's share in the partnership's recourse liabilities) = $25,000

8 0

3 years ago

Pfister Corporation has Long-term Assets of $485,000, Current Liabilities of $150,000, Long-term Liabilities of $220,000 and Own

Stels [109]

Answer:

$205,000

Explanation:

Total liabilities=current liabilities+long-term liabilities

total liabilities=$150,000+$220,000

total liabilities=$370,000

total owners'equity plus liabilities=$320,000+$370,000=$690,000

long-term assets+current assets=liabilities+owners'equity

long-term assets=$485,000

current assets are unknown

liabilities+owners'equity=$690,000

let CA represent current assets

$485,000+CA=$690,000

CA=$690,000-$485,000

CA=$205,000

3 0

3 years ago

You are told that standing up during the Cowboys football game will give you a better view of the field. However, if everyone st

Mars2501 [29]

Answer:

I think the answer is e. Because you the variable that if everyone stands up you cant see is omitted.

6 0

3 years ago

Calculate revenue. Revenue is the quantity sold times the price for the product. The quantity sold will be the smaller of the qu

ira [324]

Answer:

Revenue for Smart Suiting is $521,306.

Explanation:

Revenue is the business operational source of finance. IFRS has made standards for revenue recognition which need to be followed by all organizations. The revenue should be calculated after deducting trade and cash discounts. If there is any sales return it should be deducted from the gross revenue figure. Net revenue should be reported in the Income Statement.

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3 years ago

The Foxworthy Corporation uses a periodic inventory system and the LIFO inventory cost method for its one product. Beginning inv

Bumek [7]

Answer:

$19,192

Explanation:

Foxworthy Corporation before-tax profit/loss using LIFO method will be;

24000 units * $6.00 per unit = $144,000

16808 units * $7.00 per unit = $117,656

In 2018 the inventory quantity declined by 18000 units.

The cost of 18,000 units will be 18,000 * $8.00 per unit = $144,000

16,808 units * $7.00 per unit = $117,656

18,000 units - 16,808 units = 1,192 units

1,192 units * $6.00 per unit = $7,152

Profit/ Loss due to inventory decline :

$144,000 - $117,656 - $7,152 = $19,192.

6 0

3 years ago