on january 1 of the current year the partners of cobb, davis, and eddy, who share profits and losses in the ratio of 5:3:2, respectively, decided to liquidate their partnership. on this date the partnership condensed balance sheet was as follows: cash $ 50,000 liabilities $ 60,000 other assets $250,000 cobb, capital $80,000 $300,000 davis, capital $90,000 eddy, capital $70,000 $300,000 on january 15 of the current year the first cash sale of other assets with a carrying amount of $150,000 realized $120,000. safe installment payments to the partners were made on the same date. how much cash should be distributed to each partner?

Answers

Answer 1

The amount of cash that each partner should be distributed is Cobb: $77,000, Davis: $90,000, and Eddy: $73,000.

The carrying amount of the asset is $150,000. The cash sale of other assets amounted to $120,000 on January 15. The loss on the sale of other assets amounts to $30,000. The loss on the sale of other assets will be divided according to the profit and loss sharing ratio, which is 5:3:2 in the partnership of Cobb, Davis, and Eddy.

Loss on sale of other assets = $30,000

Ratio of profit and loss sharing = 5:3:2

Addition of ratio = 5 + 3 + 2 = 10

Cobb's share of the loss = $30,000 × 5/10 = $15,000

Davis's share of the loss = $30,000 × 3/10 = $9,000

Eddy's share of the loss = $30,000 × 2/10 = $6,000

Since the Safe installment payments are already made to the partners, the amounts will be deducted from the partners’ capital accounts.

Each partner's capital accounts and his share of the loss on the sale of other assets will be added, and the sum will be distributed accordingly. The calculations for each partner's cash distributions are:

Cobb's total distribution = ($80,000 - $15,000) + $12,000 = $77,000

Davis's total distribution = ($90,000 - $9,000) + $9,000 = $90,000

Eddy's total distribution = ($70,000 - $6,000) + $9,000 = $73,000

Therefore, the amount of cash that each partner should be distributed is as follows: Cobb: $77,000; Davis: $90,000; Eddy: $73,000.

Learn more about Partnership:

https://brainly.com/question/25012970

#SPJ11


Related Questions

Ayman has a credit card with a balance of $4750 CAD and an annual interest of 21.5% compounded
monthly. He plans on paying off the loan completely in two years using monthly payments. What is the
total amount of interest he will pay once the card is paid off?
#1 $128.03
#2 $1136.00
#3 $4878.03
#4 $5886.00

Answers

#4 $5886.00 is the answer

Explain the differences and similarities between compound interest (for money saved) and compound growth (for money invested).

Answers

The similarities between compound interest and compound growth is that both are important for one to grow his money.

What is compound interest?

It should be noted that compound interest simply means the addition of interest to the principal sum money.

The similarity between compound interest and compound growth is that both are important for one to grow his money.

The difference is that compound growth calculates the gains based on the added result from the prior period.

Learn more about compound interest on:

https://brainly.com/question/24924853

If you buy a security at $1,000, and it yielded you $1,080 after one year, what was the ROI?
8%
1080%
80%
180%

Answers

Answer:

the answer is c because i took the test

Question 24(Multiple Choice Worth 3 points)
(01.08 MC)
Why do financial companies charge fees to investors?
The fees are intended to cover the excess cost of trading in foreign funds.
It is a requirement under federal law to charge fees to cover taxes on gains.
The fees are high to get started so as to discourage the closing of accounts.
It pays for the costs associated with opening and making changes to a portfolio.

Answers

Financial companies charge fees to investors as It is a requirement under federal law to charge fees to cover taxes on gains. the correct answer is option(b).

Every investor should concentrate on investing fees because they are one of the key factors affecting how well an investment performs. Minimizing fees eventually leads to increase performance. Investors are those who buy stock in a company with the intention of holding it for a long time because they think it will do well in the future. Typically, investors are focused on two things: Value: Investors must think about how well-priced a company's shares are.

You are not an owner; you are a lending investor. You have invested in ownership if you purchase stock in a corporation. Your proportionate part of the company's profits will be deducted from the return you receive. The initial investment sum will continue to be correlated to the overall worth of the business.

To know more about investor refer to :  https://brainly.com/question/10892697

#SPJ9

Which of the following skills are required to be an effective project manager?

Answers

Answer:

The most important skills of a project manager include communication, teamwork, time management, budgeting

Explanation:

Following are the characteristics of effective project manager

The communication skills of project manager should be effective in nature.

The project manager should have central leadership expertise.

The Project managers should have decision-making skills because the best decision makes the company in profit.

In a good project manager, his team members can express their goal really well.

The project manager tends to keep his peace of mind the whole time and is continuously focused so not to stop losing himself and potentially impact his team culture..

The project manager also takes care of time and submit the project in time.

The effective project manager also keeps in mind the budget before starting the project.

All the other options are not related to skills of effective project manager that's why they are incorrect option.

How many francs is the tariff (“protecting duty”) that is added to a product that ends with a product that is priced 40 francs in paris?

How many francs is the tariff (protecting duty) that is added to a product that ends with a product that

Answers

Answer:

25

Explanation:

In which case can we be sure real GDP rises in the short run? a. the money supply increases and taxes rise b. the money supply increases and taxes fall c. the money supply decreases and taxes rise d. None of the above are correct.

Answers

money supply increases and taxes fall is the most likely scenario to ensure an increase in real GDP in the short run.option b.

In the short run, an increase in real GDP can be ensured when the money supply increases and taxes fall (option b). Here's an explanation:

Money Supply Increase: When the money supply expands, it leads to an increase in aggregate demand (total spending in the economy). As individuals and businesses have more money available, they are likely to increase their consumption and investment spending. This increased spending stimulates economic activity and contributes to an increase in real GDP.Taxes Fall: When taxes are reduced, individuals and businesses have more disposable income at their disposal. This translates into increased consumption and investment spending, which further boosts aggregate demand. With higher spending levels, businesses may increase production and hire more workers to meet the rising demand. This results in an expansion of real GDP.

Option a (money supply increases and taxes rise) would likely have a mixed effect on real GDP. While the increase in money supply could stimulate spending, the rise in taxes would reduce disposable income, potentially dampening consumption and investment. As a result, the overall impact on real GDP is uncertain.Option c (money supply decreases and taxes rise) would typically lead to a contraction in real GDP. A decrease in the money supply reduces the availability of funds for spending and investment, leading to decreased aggregate demand. Furthermore, higher taxes reduce disposable income, further depressing consumer spending and business investment.option b.

for such more questions on  taxes

https://brainly.com/question/28798067

#SPJ11

When interviewing, you should always try to lean towards the more formal side. In general, you would want to dress one step higher than those who currently work there

Answers

Answer: False, it'll be right to appear moderate and coperate

Explanation:

When attending interviews it's advised you put on your best behavior and look good. It won't be encouraging to out-dress the existing workers, it won't speak fantastic to dress better bit it's required to look good and moderate

Why doesn't the Lorax do anything to stop the Once-ler (hint: he's a symbol)? What does this tell us
about the future of business decisions?

Answers

Answer:

The Lorax is a symbol of environmental consciousness and his inaction in stopping the Once-ler represents the failure of society to prioritize the environment over economic growth. This tells us that if we do not take steps to balance economic growth and environmental sustainability, it could lead to long-term negative consequences for the environment and future business decisions.

Explanation:

The Lorax is a children's book by Dr. Seuss that explores the environmental impact of economic growth and consumerism. In the story, the Once-ler begins cutting down Truffula trees to make a product called Thneeds, despite the warnings of the Lorax, who speaks for the trees and the animals that depend on them.

The Lorax represents environmental consciousness and his inaction in stopping the Once-ler represents the failure of society to prioritize the environment over economic growth. The Once-ler's actions are driven by his desire for profit, and he continues to cut down trees despite the negative impact it has on the environment. The Lorax, as a symbol of environmental awareness, is unable to stop the Once-ler from destroying the ecosystem, which ultimately leads to the disappearance of the Truffula trees and the animals that depend on them.

This lack of balance between economic growth and environmental sustainability is a lesson that has implications for future business decisions. If businesses prioritize profit over environmental sustainability, it could lead to long-term negative consequences for the environment, which could ultimately harm the economic viability of those businesses. It is important for businesses to consider the environmental impact of their decisions and take steps to balance economic growth and sustainability for the long-term health of the environment and economy.

Prepare the 2017 and 2018 common-size balance sheets for just dew it. (do not round intermediate calculations. Enter your answers as a percent rounded to 2 decimal places,


e.G., 32.16.)

Answers

Answer:

The accounts and other information were missing, so I looked them up:

                JUST DEW IT CORPORATION

                                 Balance Sheet

                              For 2017 and 2018

                                               2017        2018        Cash

                                                                             source / use

Assets:

Current assets

Cash                                    $12,157     $14,105    source

Accounts receivable        $29,382     $32,815    use

Inventory                           $54,632    $57,204     use

Total current assets           $96,171    $104,124

Non-current assets

Net plant and equip.       $367,241   $375,830    use

Total assets                     $463,412   $479,954

Liabilities and stockholders' equity:

Current liabilities

Accounts payable            $46,382     $49,276      source

Notes payable                  $18,246       $19,784     source

Total current liabilities     $64,628     $69,060

Long term debt

Long-term debt                $49,000     $45,000     use

Owners’ equity

Common stock and

paid-in surplus                 $50,000      $50,000        -

Retained earnings          $299,784     $315,894     source

Total owners' equity       $349,784    $365,894

Total liabilities and

stockholders' equity:       $463,412    $479,954

30 POINTS :D
If someone you don't know asks where you go to school, what should you do?
A. Don't respond
B. See if they're a friend of a friend
C. Ask why they want to know
D. Lie to them​

Answers

I’d probably ignore them.. it is kinda creepy,
Ask them why they want to know. Sorry if its wrong

Samantha makes $250.00 a week and saves 10% of her paycheck each week. How much will she save in 12 months

Answers

Answer:

7

Explanation:

9867=7

OJT is best for large groups.

True
False

Answers

Answer - true
I think this is right

what orange came first the fruit or the color

Answers

The fruit. According to magaliescitrus.co, "The citrus definitely got named first. The earliest recorded use of orange the fruit in English is from the 1300s and came to us from the Old French orenge, adapted from the Arabic nāranj, from the Persian nārang, from the Sanskrit nāranga (“orange tree”)."

A. trade-off
B. investment
C. frontier
D. growth ​

A. trade-offB. investmentC. frontierD. growth

Answers

Answer:

The answer is "Option C"

Explanation:

The curve on the graph is also known as the arc, which is used in the connected mixture of perceptual lines to three additional lines in standard dual points. The Frontier production options is a nice graph of all the various output mixture of different products which can be produced utilizing existing techniques and knowledge.

what happens if 2022 altima’s rear door alert is activated and the driver does not disable the alert after arriving at their destination?

Answers

Based on automobile analysis, when 2022 altima’s rear door alert is activated and the driver does not disable the alert after arriving at their destination, "the horn will sound unless a rear door is opened or closed within a short interval."

The 2022 Altima vehicle is one of the latest exact vehicles made by the Nissan Manufacturer.

The vehicle is made and designed to give users a pleasant experience when driving.

It is also equipped with modern features and the latest specifications to make the driving seamless and more accessible.

Hence, in this case, it is concluded that the correct answer is "the horn will sound unless a rear door is opened or closed within a short interval."

Learn more about automobile features here: https://brainly.com/question/12348971

Which of the following would normally fall under general education requirements at a college?
A. Literacy, natural sciences, social sciences, and physical education B. Music, physical education, world languages, and behavioral sciences
C. Math, music, physical education, and military history
D. Math, literacy, natural sciences, and social sciences​

Answers

Answer: D. Math, literacy, natural sciences, and social sciences​

Explanation:

General Education Requirements prepares students with the skills that are needed to enhance their employability and also help them in course of life. Some of these skills include oral and written communication, problem solving, critical thinking, etc.

Some of the subjects that would normally fall under general education requirements at college are Writing, Mathematics, Social science, Natural science, Global awareness, Diversity. etc.

By the property of "more is better," the consumer views the products under consideration as:
A.goods.
B.bads.
C.inferior goods.
D.normal.

Answers

The property of "more is better" indicates that the consumer views the products under consideration as goods. Option b is answer.

This means that the consumer values the product positively and desires more of it, given that other factors like price and availability remain constant. This is the basic assumption of consumer behavior in economics, which states that consumers are rational and strive to maximize their utility by choosing the best combination of goods that meet their preferences and budget constraints.

Option b is answer.

You can learn more about goods at

https://brainly.com/question/25262030

#SPJ11

________ costs refer to the sum of the fixed and variable costs for any given level of production. Target Break-even Total Value-based Marginal

Answers

Based on microeconomic theory, Total costs refer to the sum of the fixed and variable costs for any given level of production.

What makes Total Cost?

Generally, the total cost is the sum of all the price of the material utilized, the wages or salary paid in the production, and the direct expenditure.

Components of Total Cost

The components of Total Cost include the following:

Prime costFactory costOffice cost Cost of sales, etc.

Hence, in this case, it is concluded that the correct answer is "Total Cost."

Learn more about Total Cost here: https://brainly.com/question/25109150

________________ is defined as any intentional method of distributing a desired good when there are far too many qualified claimants for a good, or the good is much too costly for all to have it.

Answers

Rationing is defined as any intentional method of distributing a desired good when there are far too many qualified claimants for a good, or the good is much too costly for all to have it.

Rationing involves allocating scarce resources or goods in a fair and equitable manner when demand exceeds supply. It is typically implemented during times of scarcity, such as during emergencies, wars, or other situations where resources are limited. Rationing systems can be based on various criteria, such as need, priority groups, random selection, or market-based mechanisms. So,  Rationing is defined as any intentional method of distributing a desired good when there are far too many qualified claimants for a good, or the good is much too costly for all to have it.

Learn more about scarce resources here:

https://brainly.com/question/28788486

#SPJ11

why would you put money into a saving account

Answers

Answer:

You'd put money into a bank account to save it

Explanation:

you'd want to save it so you don't spend it yet.

Hope this helps! :)

Olivia is a partner in Pacific Trade. In the majority of states, with respect to any partnership obligations that Olivia does not participate in, know about, or ratify, she would be liable for

Answers

In the partnership, Olivia does not participate in, know about, or ratify, she would be liable for all of the obligations jointly and severally.

What is partnership?

It should be noted that partnership simply means a business agreement between two or more people to achieve a common goal.

In this case, in the partnership, Olivia does not participate in, know about, or ratify, she would be liable for all of the obligations jointly and severally.

Learn more about partnership on:

https://brainly.com/question/25012970

peewee's toys purchased $119,800 worth of pegablock toys on account with credit terms of 2/10, n/30. mar. 12 peewee's toys returned $11,900 of the merchandise to pegablock due to damage during shipment. mar. 14 peewee's toys paid the amount due, less the return and discount.

Answers

The net amount due after Peewee's toys purchase is about $105,504.

What is the net amount due?

Peewee's toys purchased $119,800 worth of pegablock toys on account with credit terms of 2/10, n/30.
On March 12, Peewee's toys returned $11,900 of the merchandise to Pegablock due to damage during shipment.
On March 14, Peewee's toys paid the amount due, less the return and discount.

To calculate the amount due:

Calculate the discount by multiplying the amount of the purchase by the discount rate.

Subtract the discount from the amount of the purchase.

Calculate the net amount due by subtracting the return from the purchase minus the discount.

Therefore, the calculation is as follows:

Discount = $119,800 × 2% = $2,396

Amount Due Less Discount = $119,800 - $2,396 = $117,404

Net Amount Due = $117,404 - $11,900 = $105,504

The net amount due is $105,504.

Learn more about Amount due here:

https://brainly.com/question/30807454

#SPJ11

5 advantages of under development​

Answers

Nobody wants to live in a developing country. It is therefore subpar.

Being the country with the most recently constructed industries has a benefit, too, and that benefit frequently comes from being an underdeveloped country. For instance, the majority of the steel plants in the United States were constructed before the start of World War II, while South Korea's steel sector was developed decades later. The Korean steel plants were more cost-effective and able to undercut the price of American steel because they made use of new technologies. U.S. steel plants eventually had to shut down due to their lack of competitiveness.

Similar to this, China had a cost advantage due to its cheap wages because it was undeveloped when it opened up to the global market under Deng. In recent years, as its economy has grown, its wages have increased.

Recording, classifying, and summarizing economic events in a logical manner for the purpose of providing financial information for decision making is commonly called Group of answer choices auditing. economics. finance. accounting.

Answers

Recording, classifying, and summarizing economic events in a logical manner for the purpose of providing financial information for decision making is commonly called accounting.

Accounting is a fundamental process in business and financial management. It involves systematically recording financial transactions, classifying them into appropriate categories, and summarizing the information to create financial statements such as the income statement, balance sheet, and cash flow statement. These financial statements provide a snapshot of a company's financial performance, position, and cash flows, enabling decision-makers to analyze and make informed decisions about the organization's operations, investments, and financial strategies.

While auditing, economics, and finance are related disciplines, each has its own distinct focus. Auditing involves examining and evaluating financial records and statements to ensure accuracy, compliance, and reliability. Economics studies the production, distribution, and consumption of goods and services within an economy. Finance, on the other hand, focuses on managing financial resources, investments, and the financial aspects of decision making. However, accounting serves as the foundation for providing the necessary financial information in these areas.

learn more about "economic ":- https://brainly.com/question/17996535

#SPJ11

What are customer needs?

Answers

Answer:

A customer need is a need that motivates a customer to purchase a product or service. 

With relevant examples discuss intangible business property that is protected by law and which an entrepreneur should consider when starting up a business

Answers

Answer:

Explanation:

Intangible property are useful resources, they are asset that are not physical but they produce much economic benefits to organization , entrepreneur.some of this asset are Goodwill, brand recognition, as well as intellectual property.

Some of these intangible asset are intellectual property and are protected by law from stealing away by those that are not authorized to it.

Examples of intangible business property that is protected by law are:

✓patent

✓copyright

✓ franchises

✓trade mark

✓Goodwill

✓tradenames

✓ trade secret

1)Patent is one of the intangible asset granted by government and protected to an inventor who is entrepreneur that exclude others from selling as well as using the invention for particular period of time. If an entrepreneur comes up with an invention it will be protected for him/ her. it can be categorized as utility, design, and plant. Example of invention that falls under utility is microwave oven. Other invention are light bulb, printing press.

2) copyright is another intangible property, in which the original works of authorship of an entrepreneur is protected, dramatic, musical work as well as computer software, and architecture of an entrepreneur is protected, this will help the entrepreneur to enjoy the benefits of his/her labor and to grow fast in term of finance.

3)trademark is another intangible property that is protected by law which includes design, expresion, sign that identifies the product of a company from another, when an entrepreneur is starting a business , trademark is important because his/her product will be easier to identify by consumer and this helps business to grow faster. Example is the logo that Apple( apple shape with a bite) uses as trademark on all their products, swoosh logo that Nike uses on their products

4)trade secrets is an intangible property as well as intellectual property that is been protected by law it contains processes, design, information with inherent economic values that are not generally known by everyone, this is important to enterprenurer because trade secret helps the individual with the secret to sustain his/her business without been hijacked. Example of trade secret is the

secret formula for Coca-Cola which other soft drinks producer doesn't know.

The share in the company's profit is called_________.​

Answers

Answer:

profit sharing

Explanation:

From Investopia they define profit sharing as

"A plan gives employees a share in their company's profits based on its quarterly or annual earnings."

fill in the blank for this algorithm for finding the bank account with the given account number. for (bankaccount a : accounts) { if ( accountnumber) return a; } return null;

Answers

The algorithm for finding the bank account, fill in the blank with the condition "if (a.getAccountNumber() == accountNumber)" where "a" represents each bank account object in the "accounts" collection.

To find the bank account with the given account number, the algorithm iterates through each bank account object "a" in the "accounts" collection using a for-each loop. Within the loop, the condition "if (a.getAccountNumber() == accountNumber)" checks if the account number of the current bank account "a" matches the given account number.

If a matching account is found, the algorithm will return that bank account object "a" using the "return a;" statement. This indicates that the bank account with the desired account number has been found.

If no matching account is found after checking all the bank accounts in the "accounts" collection, the algorithm will reach the "return null;" statement, indicating that there is no bank account with the given account number in the collection.

To learn more about bank click here:

brainly.com/question/31148686

#SPJ11

If utility is given by u(x, y) =, then the person's MRS at the point x = 5, y = 2 is given by 1.0 3.5 0.4 5.0 "If an individual is to maximize the utility received from consumption, he or she spend all available income." This statement is true under the assumption of quasi-concave utility. non-satiation. transitive preferences. complete preferences.

Answers

The statement is true under the assumption of non-satiation.Non-satiation is an assumption in economics that states individuals always prefer more of a good to less.

In other words, individuals never reach a point where they are completely satisfied or "satiated" with a certain level of consumption. Under the assumption of non-satiation, individuals continuously seek to maximize their utility by consuming more goods and services.If an individual is to maximize their utility, they would spend all their available income on goods and services because any remaining income would represent unused purchasing power that could potentially increase their overall satisfaction. In other words, if individuals have the opportunity to increase their utility by spending more and there are no constraints on their consumption, it would be rational for them to spend all their available income.Quasi-concave utility, transitive preferences, and complete preferences are also important concepts in economics, but they do not directly address the statement in question. Quasi-concave utility refers to the shape of the utility function and its relationship to preferences.

learn more about assumption here:

https://brainly.com/question/30799033

#SPJ11

Other Questions
a nurse is caring for a client who has returned to their room after a carotid endarterectomy. which action should the nurse take first? Please review pictures attached.Thank you Which graph best represents the solution to this system of inequalities? you're stuck!1. Factor the following expressionx2 + 8x + 15org/mmulti Frog jumps to the left with average speed of 1.8 m/s for 0.55 s whats the frogs displacement in meters Un empresario compr 1000 tabletas a $1500 cada una. Vendi 450 de ellas obteniendo unaganancia del 25%. A qu precio deber vender las otras 550 restantes si la utilidad promedio del lote completodebe ser del 40%? Q6 - split and friends. ( 30 points) You can use str+aplit (eeparator) to break up a long string into a list of substrings separated by the separator. In toxt data processing. this is commony done to Point B lies between points A and C on AC. Let xrepresent the length of segment AB in inches.Use the segment to complete the statements.The value of x isThe length of AB in inches isB3xThe length of BC in inches is Someone please help this is due tonight and Im in need of help Are the two triangles similar? How do you know? (image attached)A. noB. yes; by AA ~C. yes; by SAS ~D. yes; by SSS ~ Please help I will mark brainliest I'm really in need now (Please explain) at a ph of 7.40, what is the ratio of the molar concentrations of co32 to hco3? baby rolf first demonstrated the ability to kick and reach, then learned to rock on all fours, and later combined the skills to crawl. rolf is exhibiting evidence of group of answer choices a built-in maturational timetable. the proximodistal trend. dynamic systems theory of motor development. the cephalocaudal trend what is m=5 and (6, -1) Read the passage and answer the question. (50 POINTS)(language arts) 3.Alex and Thomas share 30 sweets.They divide them in the ratio 3:2.How many sweets does Thomas have? which of these images from the poem can be considered "nature" imagery? (check all that apply) A. sun B. red cliff C. my sorrow D. childhood's hour E. common spring PLEASE HELP I WILL GIVE YOU BRAINLIST The three main factors which influence incidents involving vulnerable road users are ...A. speed, alcohol and visibility.B. speed, alcohol and weather.C. speed, alcohol and road conditions. Four students decide to flip a coin a number of times and record their results. Dan flips his coin 5 times, Kelly flips her coin 25times, Armando flips his coin 50 times, and Judah flips his coin 100 times Whose results will most likely approach the theoreticalprobability? PLEASE HELP!!!! THIS IS TIMED!!!!! PLEASE HELP ME!!!!! PLEASE!!!!!!!!!!!!!!!