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irina [24]
2 years ago
10

Partners X, Y and Z have capital balances of $80, 000, $180,000 and $60,000 respectively. Immediately prior to liquidation. Tota

l remaining assets have a book value of $320,000 and assume liabilities have been paid. There is one remaining asset with a fair market value of $70,000. All three partners agree to share profit and loss equally. Z wishes to take the asset with him and start a new business and would accept $70,000 in cash; the remaining partners agree this would be fair. How much cash in addition to the asset would first be distributed to Z before any of the other partners receive anything? a. $100,000 b. $240,000 c. $30,000 d. $50,000
Business
1 answer:
Marysya12 [62]2 years ago
5 0

The cash distributed to Partner Z before the other partners is <em>$60,000.</em>

Data and Calculations:

Book value of assets = $320,000

Fair value of asset = $70,000

                                                     X              Y                Z             Total

Capital balances                $80,000   $180,000  $60,000    $320,000

Total assets available for distribution                                     $390,000

Assets assumed by Z                                          ($70,000)     ($70,000)

Balance                                                                                    $320,000

Distribution to partners  $80,000   $180,00   $60,000    $320,000

Cash distribution to partners depends on the cash realized from the assets.

Thus, the cash distributed to Partner Z before the other partners is<em> $60,000.</em>

Learn more about cash distributions to partners upon a partnership liquidation here: brainly.com/question/22693552

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Answer:

The correct answer is letter "C": sales minus costs of intermediate goods.

Explanation:

Value Added is used to describe the extra something a company does to a product that makes it worth more than the cost of its underlying parts. For economists, value-added is the <em>difference between the gross revenue for an industry</em> (sales) <em>and the sum of the labor, materials, and services </em>(intermediate goods) <em>purchased to produce the goods that generated the revenue.</em>

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Klingon Cruisers, Inc., purchased new cloaking machinery five years ago for $20 million. The machinery can be sold to the Romula
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Answer:

a. $16,426,000

b. $19,080,000

Explanation:

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Book value of assets refer to the value of the total value of the assets of a company on its balance sheet after depreciation, impairment and amortization have been deducted.

This can be calculated for this question as follows:

Book value of Klingon's assets today = Book value of current assets + Book value of  fixed assets

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Book value of Klingon's assets today =  $15,500,000 + $926,000 = $16,426,000

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On May 30, 2018, Jane purchased a factory building to use for her business. In August 2019, Jane paid $300,000 for improvements
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Answer:

$2,889

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