Complete question:
Tim and Michelle have decided to form a partnership with a 60/40 partnership interest ratio. Tim contributes $7500 cash and merchandise inventory with a market value of $1500. While journalizing this transaction ________.
A) Tim, Capital will be debited for $9000
B) Tim, Capital will be credited for $9000
C) Tim, Capital will be credited for $6000 and Michelle, Capital will be credited for $4500
D) Tim, Capital will be debited for $6000 and Michelle, Capital will be debited for $4500
Answer: Tim, Capital will be credited for $9000
Explanation: Tim's total contribution towards the partnership will be recorded as his capital. Since he has contributed $7,500 worth of cash, and merchandise inventory with a market value of $1,500. The market value of the merchandise inventory and the cash contributed adds up towards his capital contribution. This is $7,500 + $1,500 which sums up to a total of $9,000.
Closing mines has economic impacts on communities. It cuts off all the many advantages that are attached to mineral resources and have negative impacts on the government returns for that community. Thus, the answer is false.
Answer: It should shot down immediately.
Explanation:
If the market price is equal to average cost at the profit-maximizing level of output, then the firm is making zero profits. If the market price that a perfectly competitive firm faces is below average variable cost at the profit-maximizing quantity of output, then the firm should shut down operations immediately.
Answer:
Risk return you expect to pay high average return since it will give us better economic conditions.
Answer:
Contingent means "depending on certain circumstances." If a house is listed as contingent in real estate it means that an offer has been made and accepted, but before the deal is complete some additional criteria must be met.
Explanation:
Hope this helps! (I just looked it up) Good luck!!
