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Semenov [28]
3 years ago
14

A partnership began its first year of operations with the following capital balances: Young, Capital $ 143,000 Eaton, Capital $

104,000 Thurman, Capital $ 143,000 The Articles of Partnership stipulated that profits and losses be assigned in the following manner: Young was to be awarded an annual salary of $26,000 and $13,000 salary was to be awarded to Thurman. Each partner was to be attributed with interest equal to 10% of the capital balance as of the first day of the year. The remainder was to be assigned on a 5:2:3 basis to Young, Eaton, and Thurman, respectively. Each partner withdrew $13,000 per year. Assume that the net loss for the first year of operations was $26,000 with net income of $52,000 in the second year. What was the balance in Thurman's Capital account at the end of the second year
Business
1 answer:
PtichkaEL [24]3 years ago
5 0

From the information given, the balance that will be in the capital account of Thurman at the end of the second year will be $132860.

The partners account at the end of the second year for Thurman will be calculated thus:

  • Beginning capital = $126100
  • Add: Net income = $19760
  • Less: Drawings = $13000
  • Ending capital = $132860

Therefore, the balance in the account will be $132860.

Read related link on:

brainly.com/question/25758372

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Miranda wants to operate a small catering business out of her home, located in a quiet residential neighborhood. She
morpeh [17]

According to the given scenario, Miranda has discovered that her new business will definitely be successful. Thus, option first is correct.

<h3>What is Business?</h3>

A business is an organization or enterprising body that engages in commercial, industrial, or professional activities. Businesses can be nonprofit organizations or for-profit enterprises.

Among the various business structures are partnerships, corporations, limited liability companies, and sole proprietorship.

According to the above situation, Miranda has learned that the future of her new company is bright as he has taken certain important steps in order to grow her business.

Therefore, it can be concluded that first is correct.

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#SPJ1

5 0
1 year ago
Sigma Corporation owns 80% of the stock of Epsilon Corporation, which pays it a dividend of $100,000. Sigma Corporation also own
kvv77 [185]

Answer:

d. $132,000

Explanation:

Sigma Corporation holds the stock of Epsilon Corporation and is subsidiary for the Sigma. The dividend declared by of $100,000 is entirely for the sigma whereas Sigma Corporation also holds 20% of the shares of Intergalactic Corporation. The dividend of $40,000 will be calculated in the dividend amount of Sigma but 20% will be deducted.

$100,000 + $40,000 * 80% = $132,000

6 0
3 years ago
a. Suppose the marginal propensity to consume (MPC) for a nation is 0.67. What is the tax multiplier for this nation
algol [13]

Assuming the marginal propensity to consume (MPC) for a nation is 0.67. The tax multiplier for this nation is: 2.03.

<h3>Tax multiplier</h3>

Using this formula

Tax multiplier=-MPC/1-MPC

Where:

Marginal propensity to consume (MPC)=0.67

Let plug in the formula

Tax multiplier=0.67/1-0.67

Tax multiplier=0.67/0.33

Tax muitiplier=2.03

Inconclusion the tax multiplier for this nation is: 2.03.

Learn more about  tax multiplier here:brainly.com/question/16965373

7 0
2 years ago
Your friend has $80 when he goes to the fair. He spends $4 to enter the fair and $12 on food. Rides at the fair cost $1.25 per r
padilas [110]

Answer:

f(x) = -1.25x + 64 I hope this helps :)

Explanation:

total amount of money: $80

He spent $16 for the entrance of the fair and food.

80-(4+12) = 64

After that you subtract $1.25 per ride = -1.25x

Then it gives the function:

f(x) = -1.25x + 64

6 0
3 years ago
Suppose the price of crude oil drops from 150$ a barrel to 120$a barrel. The quantity bought remains unchanged at 100 barrels. T
IrinaK [193]

Answer:

coefficient = 0

Explanation:

We have the formula to calculate the price elasticity of demand as following:

<em>Elasticity coefficient = % Change in quantity/ % Change in price</em>

As given:

+) The percentage change in price is: (120-150)/150= - 20%

+) The quantity bought remains unchanged - which means the percentage change in quantity demanded is 0%

=> <em>Elasticity coefficient = % Change in quantity/ % Change in price</em>

<em>= 0/-20 = 0</em>

<em />

<em>So the coefficient of price elasticity of demand in this example would be 0</em>

7 0
3 years ago
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