Business, 10.09.2019 22:20 bellam302

In the rst partnership, ron's capital is $80,000, stella's is $75,000, and tiffany's is $50,000. they share income in a 3: 2: 1 ratio, respectively. tiffany is retiring from the partnership. each of the following questions is independent of the others.
38. refer to the above information. tiffany is paid $60,000, and no goodwill is recorded. in the journal entry to record tiffany's withdrawal:
a. tiffany, capital will be credited for $60,000.
b. ron, capital will be debited for $5,000.
c. stella, capital will be debited for $4,000.
d. cash will be debited for $60,000.

Answers: 1

Show answers

Another question on Business

Business, 22.06.2019 16:40

Job 456 was recently completed. the following data have been recorded on its job cost sheet: direct materials $ 2,418 direct labor-hours 74 labor-hours direct labor wage rate $ 13 per labor-hour machine-hours 137 machine-hours the corporation applies manufacturing overhead on the basis of machine-hours. the predetermined overhead rate is $14 per machine-hour. the total cost that would be recorded on the job cost sheet for job 456 would be: multiple choice $3,380 $5,298 $6,138 $2,622

Answers: 1

Answer

Business, 22.06.2019 21:00

China's new 5 percent tax on disposable wooden chopsticks, reflecting concerns about deforestation, has been praised by environmentalists. the move is hitting hard at the japanese, who consume 25 billion set of wooden chopsticks annually. almost all of the chopsticks used in japan come from china. the reuirements for chinese manufacturers of wooden chopsticks to pay the 5 percent tax is a factor in their external environment.

Answers: 3

Answer

Business, 22.06.2019 21:10

Which of the following statements is (are) true? i. free entry to a perfectly competitive industry results in the industry's firms earning zero economic profit in the long run, except for the most efficient producers, who may earn economic rent. ii. in a perfectly competitive market, long-run equilibrium is characterized by lmc < p < latc. iii. if a competitive industry is in long-run equilibrium, a decrease in demand causes firms to earn negative profit because the market price will fall below average total cost.

Answers: 3

Answer

Business, 23.06.2019 00:10

Warren company plans to depreciate a new building using the double declining-balance depreciation method. the building cost $870,000. the estimated residual value of the building is $57,000 and it has an expected useful life of 20 years. assuming the first year's depreciation expense was recorded properly, what would be the amount of depreciation expense for the second year?

Answers: 2

Answer

You know the right answer?

In the rst partnership, ron's capital is $80,000, stella's is $75,000, and tiffany's is $50,000. the...

Questions