September 11 2001 its eaasy
Answer:
A. $86,900
Explanation:
Henry’s capital account will be credited by the amount of $86,900. See computation below.
Cash $57,300
Equipment 34,100
Inventory 10,400
Note payable (14,900)
————
Total $86,900
*Both the equipment and the inventory will be recorded on partnership’s book at fair market value at the time of contribution.
*The partnership may absorb the obligation if it is associated with an asset contributed by partner. Thus, it will be deducted to his capital account as contribution to the partnership.
Answer:
$36,070
Explanation:
Given that,
Contribution margin ratio = 61%
Fixed monthly expenses = $47,500
sales = $137,000
Contribution margin:
= Sales × Contribution margin ratio
= $137,000 × 61%
= $83,570
Net income = Contribution margin - Fixed monthly expenses
= $83,570 - $47,500
= $36,070
Therefore, the best estimate of the company's net operating income in a month is $36,070.
Answer:
The answer is $304,000
Explanation:
Barber's ending equity is:
Barber's beginning partnership capital balance for the current year plus share of partnership net income minus Barber's withdrawal
Barber's beginning partnership capital balance for the current is $314,000
Share of partnership net income
= $152,000 /2
= $76,000
Barber's withdrawal = $86,000
Therefore, Barber's ending equity is
$314,000 + $76,000 - $86,000
= $304,000
