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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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I. Never stand still

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8. Be Self-Pronotional

Explanation:

Hope this helps! Tell me if I'm wrong. If thai Helps Give me brainly.

5 0
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Yummy Peanut Butter created a new​ coconut-flavored peanut butter that it tested in a small number of representative cities. The
Sati [7]

Answer:

B.

standard test markets

Explanation:

Standard test markets is when a set of representative cities are selected and the full marketing mix is tested in these areas before a new product launch. The new products are sold through their normal channels to simulate reality.

Yummy peanuts is testing its new coconut flavored peanut butter in a group of representative cities. Aimed at forecasting national sales and profit. This is use of standard test markets.

4 0
3 years ago
In the short run a) a firm does not have sufficient time to change any of the resources it uses. b) a firm does not have suffici
timama [110]

Answer:

c) a firm does not have sufficient time to change the level of use some of its inputs.

Explanation:

The definition of short-run in economics is not a term to be used for a specific certain period of time but it means that the period of time is too short that the firms cannot change the level they are using of some of their inputs or costs. It means they do have fixed costs they cannot change. For example, all machinery installed, a yearly rent paid, electricity or others that the firm cannot change unless there is sufficient time. In a short period of time, it will have those costs anyway. The firm cannot change the level of that input. And it is short run of at least one input. It may be many. But it is not necessary to have all inputs unchanged to consider that period of time as short-run.

However, firms can change level of inputs if they have more time. That is cost the long run. All costs are variable costs when we are in long run.

3 0
3 years ago
The Campus Crustacean Company receives $2 per box for its crawfish and is selling 1,600 boxes to maximize its profits. What is t
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Answer:

Profit per box of crawfish $0.25

Explanation:

To calculate the Total profit, we can solve the expression;

Total profit=Total selling price-Total purchase price

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Total purchase price=(Variable cost per box×number of boxes purchased)+Total fixed costs

Total purchase price=(1×1600)+1,200=$2,800

Total selling price=Selling price per box×number of boxes

Total selling price=(2×1600)=$3,200

replacing in the expression;

Total profit=Total selling price-Total purchase price

Total profit=($3,200-$2,800)=$400

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To calculate the profit per box;

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p=400/1600=0.25

Profit per box=p=$0.25 per box

7 0
3 years ago
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