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
Nadya [2.5K]
3 years ago
15

Partners Dennis and Lilly have decided to liquidate their business. The following information is available:

Business
1 answer:
fgiga [73]3 years ago
4 0

Answer:

Partners Dennis and Lilly have decided to liquidate their business. The following information is available:

Cash $100,000 Accounts Payable $100,000

Inventory $200,000 Dennis, Capital $120,000

Lilly, Capital $80,000

$300,000 $300,000

Dennis and Lilly share profits and losses in a 3:2 ratio. During the first month of liquidation, half the inventory is sold for $60,000, and $60,000 of the accounts payable is paid. During the second month, the rest of the inventory is sold for $45,000, and the remaining accounts payable are paid. Cash is distributed at the end of each month, and the liquidation is completed at the end of the second month.

1. Using a safe payments schedule, how much cash will be distributed to Dennis at the end of the first month?

a. $36,000

b. $64,000

c. $60,000

d. $24,000

2. Using a safe payments schedule, how much cash will be distributed to Lilly at the end of the first month?

a. $40,000

b. $24,000

c. $64,000

d. $16,000

You might be interested in
Which best describes the Business, Management, and Administration career cluster? These are careers that are focused on running
umka21 [38]

Answer:

These are careers that are focused on running businesses.

Explanation:

The business management and administration career cluster are careers that are focused on the running of businesses. What it does is to help students prepare for effective and good careers on the processes of running good and productive businesses. It has several career pathways to follow in achieving this.

3 0
3 years ago
Read 2 more answers
Happinessistheroad Corp. has the following information available regarding its materials: Managers expected to pay $5 per kilogr
LenaWriter [7]

Answer:

$5.5= actual price

Explanation:

Giving the following information:

Managers expected to pay $5 per kilogram.

Each unit produced should take 2 kilograms; actual total usage was 2,100 kilograms.

The company produced 950 units.

The direct materials spending variance is $1,050 (unfavorable).

To calculate the actual price per kilogram, we need to use the direct material spending variance.

Direct material price variance= (standard price - actual price)*actual quantity

-1,050= (5 - actual price)*2,100

-0.5= 5 - actual price

5.5= actual price

6 0
3 years ago
Why do you want to work for the department of finance and administration?
eduard
An individual would likely want to work for the department of finance and administration if the individual is interested in this field in which he or she will likely take on the job of managing finances such as budget, finance reports and as well as accounting, in a way that it will help a company or organization to have someone deal with how the money circulates or managed in the company.
4 0
3 years ago
A municipal bond has a coupon rate of 5.11 percent and a YTM of 5.41 percent. If an investor has a marginal tax rate of 35 perce
Anettt [7]

Answer:pretax yield = 5.11 x 1.35 = 6.8985 = 6.90%

Explanation:

a pretax yield is a yield that a taxable bond must have in order for the yield to equal to a yield of a bond that is tax free

pretax yield = 5.11 x 1.35 = 6.8985 = 6.90%

3 0
3 years ago
What does productivity measure for a business?
Sphinxa [80]

Answer:

A. Its efficiency in creating its product



Explanation:

Productivity describes various measures of the efficiency of production. Often, a productivity measure is expressed as the ratio of an aggregate output to a single input or an aggregate input used in a production process, i.e. output per unit of input, typically over a specific period of time

3 0
3 years ago
Read 2 more answers
Other questions:
  • Assume Royal Palm Corp., an equipment distributor, sells a piece of machinery with a list price of $800,000 to Arch Inc. Arch In
    10·1 answer
  • Cheyenne has a home insured for $160,000. It would cost $180,000 to rebuild her home. If she has home insurance that provides pe
    11·1 answer
  • A $1,000 bond quoted at 104 would sell for<br><br> a) $104<br> b) $1000<br> c) $1040<br> d) $1104
    11·1 answer
  • Juanita knits blankets as a hobby and sells them. In the current year, she earns $5,000 from her blanket sales and incurs expens
    10·1 answer
  • If a project activity experiences positive variation:
    9·1 answer
  • For a variety of reasons, a bank sometimes will hold more reserves than is legally required. These reserves are known as excess
    9·1 answer
  • Assign each of the following to the correct category: A full-time college studentmultiple choice 1 Employed Unemployed Not in th
    9·1 answer
  • Assume that product Adam, a product designed for the High-End segment, can reach its full potential market share next year. A go
    5·1 answer
  • What concerns might a gap employee working in one of its stores have because of its social stance?
    5·1 answer
  • on june 19, a u.s. company sold and delivered merchandise on a 30-day account to a german corporation for 190,000 euros. on july
    10·1 answer
Add answer
Login
Not registered? Fast signup
Signup
Login Signup
Ask question!