Business, 06.11.2019 23:31 cjustiniano705

Wright, bell, and edison are partners and share income in a 2: 5: 3 ratio. the partnership's capital balances are as follows: wright $33,000, bell $27,000, and edison $40,000. edison decides to withdraw from the partnership, and the partners agree not to revalue the assets upon edison's retirement. the journal entry to record edison's june 1 withdrawal from the partnership if edison sells his interest to whitney for $45,000 after the two partners approve whitney as partner is:

debit edison, capital $45,000; credit whitney, capital $45,000

debit edison, capital $40,000; credit cash $40,000.

debit edison, capital $40,000; debit wright, capital $2,500; debit bell, capital $2,500; credit whitney, capital $45,000

debit edison, capital $40,000; credit whitney, capital $40,000

debit edison, capital $40,000; debit cash $5,000; credit whitney, capital $45,000.

Answers: 3

Show answers

Another question on Business

Business, 21.06.2019 23:30

Renaldo scanlon is a financial consultant. he earns $30 per hour and works 32.5 hours a week. what is his straight-time pay?

Answers: 1

Answer

Business, 22.06.2019 10:50

You are evaluating two different silicon wafer milling machines. the techron i costs $285,000, has a three-year life, and has pretax operating costs of $78,000 per year. the techron ii costs $495,000, has a five-year life, and has pretax operating costs of $45,000 per year. for both milling machines, use straight-line depreciation to zero over the project’s life and assume a salvage value of $55,000. if your tax rate is 24 percent and your discount rate is 11 percent, compute the eac for both machines.

Answers: 3

Answer

Business, 22.06.2019 11:30

What would you do as ceo to support the goals of japan airlines during the challenging economics that airlines face?

Answers: 1

Answer

Business, 22.06.2019 21:10

Skychefs, inc. prepares in-flight meals for a number of major airlines. one of the company's products is grilled salmon in dill sauce with baby new potatoes and spring vegetables. during the most recent week, the company prepared 4000 of these meals using 960 direct labor hours. the company paid these direct labor workers a total of $19,200 for this work, or $20.00 per hour. according to standard cost card for this meal, it should require 0.25 direct labour-hours at a cost of $19.75 per hour.1. what is the standard labor-hours allowed (sh) to prepare 4,000 meals? 2. what is the standard labor cost allowed (sh x sr) to prepare 4,000 meals? 3. what is the labor spending variance? 4. what is the labor rate variance and the labor efficiency variance?

Answers: 3

Answer

You know the right answer?

Wright, bell, and edison are partners and share income in a 2: 5: 3 ratio. the partnership's capital...

Questions