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Inessa05 [86]
3 years ago
10

Fred and Barney started a partnership. Fred invested $20,000 in the business and Barney invested $32,000. The partnership agreem

ent stipulated that profits would be divided as follows: Each partner would receive a 15% return on invested capital with the remaining income being distributed equally between the two partners. Assuming that the partnership earned $38,000 during an accounting period, the amount of income assigned to the two partners would be:
Business
1 answer:
svet-max [94.6K]3 years ago
8 0

Answer:

The amount of income assigned to the two partners would be $18,100 and $19,900 respectively.

Explanation:

For computing the amount of income assigned to the two partners, we have to do the following calculations which are shown below:

1. Dividend amount for each partner:

For Fred = Invested amount × rate of return

              = $20,000 × 15%

              =$3,000

For Barney =  Invested amount × rate of return

                  = $32,000 × 15%

                  = $4,800

The total dividend amount equals to

= Fred dividend + barney dividend

= $3,000 + $4,800

= $7,800

2. Now compute the remaining amount, and divide it in the sharing ratio

So, the remaining amount would be

= Partnership income - total dividend amount

= $38,000 - $7,800

= $30,200

So the Fred income would be = $30,200 × 50% = $15,100

And, the barney income would be = $30,200 × 50% = $15,100

So, the amount of income:

For Fred = Dividend income + remaining income

              = $3,000 + $15,100

              = $18,100

For Barney = Dividend income + remaining income

                   =$4,800 + $15,100

                   = $19,900

Hence, the amount of income assigned to the two partners would be $18,100 and $19,900 respectively.

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If carol found her own buyer, would she owe mardee a commission option (c)i.e, No, because Carol found her own buyer.

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The complete question is:

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3 0
1 year ago
At what stage does an advertiser decide how the message and appeal of an ad can be creatively translated into words, pictures, c
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2 years ago
James Corporation is planning to issue bonds with a face value of $508,500 and a coupon rate of 6 percent. The bonds mature in 7
lora16 [44]

Answer:

The solution according to the given query is summarized in the explanation segment below.

Explanation:

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Face value,

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The standard hours allowed is ________. the direct labor-hours that should have been used to complete the planned output for the
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Answer:

B. the direct labor-hours that should have been used to complete the actual output for the period.

Explanation:

Standard hours is the amount of time or hours of labour time taken to complete the period's actual output. It is the time that should have been taken to complete the period's actual output.

It is usually calculated by multiplying standard hours allowed per unit by actual output for the period.

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the missoue manufacuting company recorder overhead costs of 14272 at an activity level of 4650 machine hours and 8622 at 2390 ma
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Answer:

$9,372

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