Kara Ries, Tammy Bax, and Joe Thomas invested $80,000, $112,000, and $128,000, respectively, in a partnership. During its first calendar year, the firm earned $249,000. Required:
Prepare the entry to close the firm's Income Summary account as of its December 31 year-end and to allocate the $249,000 net income to the partners under each of the following separate assumptions:
1. The partners have no agreement on the method of sharing income and loss.
2. The partners agreed to share income and loss in the ratio of their beginning capital investments.
3. The partners agreed to share income and loss by providing annual salary allowances of $66,000 to Ries, $56,000 to Bax, and $80,000 to Thomas; granting 10% interest on the partners' beginning capital investments, and sharing the remainder equally.

Alandowner and his neighbor purchased adjoining undeveloped lots. after both built homes on their respective lots, the landowner suggested to the neighbor that a common driveway be built where the two lots joined. the neighbor agreed. the landowner and the neighbor split the cost of constructing the driveway and entered into a written agreement to equally share the costs of its upkeep and maintenance. the agreement was recorded in the county recorder's office. two years later, the neighbor built a new driveway located entirely on his lot. the common driveway, which the landowner continued to use but which the neighbor no longer used, began to deteriorate. the landowner asked the neighbor for money to maintain the common driveway, but the neighbor refused to contribute. three years later, the neighbor conveyed his lot to a friend. the friend entered into possession and used only the driveway built by the neighbor. by this time, the common driveway had deteriorated badly and contained numerous potholes. the landowner asked the friend to pay half of what it would take to repair the common driveway. the friend refused. the landowner repaired the driveway and sued the friend for 50% of the cost of repairs. will the landowner prevail?

Edna gomez is the founder of the restaurant chain good and green. she ensures that the products in her stores are ethically and responsibly sourced. most products are therefore 100 percent organic and all packaging is manufactured from recycled material. also, her company sources ingredients from farms within 100 miles from her locations. edna's belief is that her restaurants should be able to support the community at large. which of the following terms best describes edna gomez? a. headhunter b. category captain c. social entrepreneur d. trade creditor

Abus pass costs $5 per week. which of the following equations shows the total cost in dollars, t, of the bus pass for a certain number of weeks, w? t = 5w w = 5t t = 5 + w w = 5 + t