17. Which of the following is an example of a

A local dental partnership has been liquidated and the final capital balances are: Atkinson, capital (40% of all profits and los

Margarita [4]

Answer:

Cash distribution

Atkinson $20,000

Kaporale $0

Dennsmore $0

Rasputin $0

Explanation:

Computation of what should happen if Rasputin contributes additional cash of $20,000 to the partnership

Atkinson Kaporale Dennsmore Rasputin

Reported balances

$70,000 $30,000 $(42,000) $(58,000)

Capital contribution$0 $0 $0 $20,000

Adjusted balances

$70,000 $30,000 $(42,000) $(38,000)

Potential loss from Dennsmore and Rasputin(42,000+38,000=80,000) split on a 4:3 basis

(45,714) (34,285) 42,000 38,000

Adjusted balances

$24,286 $(4,285) $0 $0

Potential lossfrom Kaporale ($4,285)

(4,285) 4,285 $0 $0

Cash distribution $20,000 $0 $0 $0

Calculation for the potential loss

Potential loss from Dennsmore and Rasputin(42,000+38,000=80,000) split on a 4:3 basis

Dennsmore(4/7×80,000)= 45,714

Rasputin (3/7×80,000)=34,285

Therefore what should happen if Rasputin contributes additional cash of $20,000 to the partnership is that Atkinson will have cash of $20,000, Kaporale $0 , Dennsmore $0 and Rasputin will have cash of $0

3 0

3 years ago

A change in the asset turnover ratio from 2.0 to 1.8 would indicate: ____________

dem82 [27]

The decline in the value of the asset turnover ratio indicates an unfavorable trend in using assets to generate sales.

<h3>What is the asset turnover ratio?</h3>

The asset turnover ratio is a financial ratio known as the activity ratio. It measures the efficiency with which a firm carries out its operations. The higher the asset turnover ratio , the more efficient the firm is and the lower the ratio, the less efficient the firm is.

The asset turnover ratio = revenge / average total ratio

To learn more about financial ratios, please check: brainly.com/question/26092288

7 0

3 years ago

One would speak of a movement along a supply curve for a good, rather than a change in supply, if Group of answer choices

grin007 [14]

Answer:

4) the price of the good changes.

Explanation:

A movement along the supply curve means that the supply relationship remains consistent. Therefore, a movement along the supply curve will occur when the price of the good changes and the quantity supplied changes in accordance to the original supply relationship. In other words, a movement occurs when a change in quantity supplied is caused only by a change in price, and vice versa.

6 0

3 years ago

On January 1, 2020, Grand Haven, Inc., reports net assets of $862,150 although equipment (with a four-year remaining life) havin

galina1969 [7]

Answer:

$35,000

Explanation:

Calculation for what amount should the patent be reported on Van Buren's consolidated balance sheet at December 31, 2021.

Unrecorded patent is valued at $45,000

Less Amortization for 2 years (9 years remaining life) ($10,000)

(45,000/9 years*2)

Patent reported $35,000

($45,000-$10,000)

Therefore the amount of patent that should be reported on Van Buren's consolidated balance sheet at December 31, 2021 is $35,000

7 0

3 years ago

Assume that you are a member of the hershey trust board. to whom (or what) do you owe your fiduciary responsibility? how does th

saw5 [17]

The member of the trust board would owe his/her fiduciary responsibility to the community of Hershey.

Milton S. Hershey was the creator of the company, hence the very reason you would be in this position right now. As such, the legacy of Mr. Hershey would affect your thinking such that you act in the best interests of the company to allow it to grow further and larger, as this is what its founder would have wanted.

8 0

3 years ago

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