a. Assume that the partners share profits and losses 3:3:2:2, respectively. Fergie retires and is paid $190,000 based on the terms of the original partnership agreement. If the goodwill method is used, what is the capital balance of the remaining three partners

Answers

Answer 1

Based on the goodwill method, the capital balances of the three partners will be:

Pineda - $275,000Adams - $235,000Gomez - $170,000

What will be the capital balance for the partners?

First find the total firm goodwill:

= Goodwill paid to Fergie / Fergie capital share

= (190,000 - 160,000) / ( 2 ÷ (3 + 3 + 2 + 2))

= $150,000

This will be shared to the partners in the ratio, 3:3:2:2:

Pinada gets:

= 230,000 + (150,000 x 3 / (3 + 3 + 2 + 2))

= $275,000

Adams gets:

= 190,000 +  (150,000 x 3 / (3 + 3 + 2 + 2))

= $235,000

Gomez gets:

= 140,000 +  (150,000 x 2 / (3 + 3 + 2 + 2))

= $170,000

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A. Assume That The Partners Share Profits And Losses 3:3:2:2, Respectively. Fergie Retires And Is Paid

Related Questions

You have a small business. your first-year financials are as follows.

start-up costs $60,800
gross sales $65,800
total expenses $28, 500
income taxes $6, 370

what is the return on investment (roi)for your business?

Answers

The return on investment for the business with the given financials are as follows,

Start-up costs $60,800

Gross sales $65,800

Total expenses $28, 500

Income taxes $6, 370

Overall expenditure $95670

Return on investment,  $65800- $95670

= $-29870.

What is Return on investment?

Return on investment is a financial ratio used to calculate the benefit an investor will receive in relation to their investment cost. It is most commonly measured as net income divided by the original capital cost of the investment.

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Which evidence does Gore use to support the idea that climate change is
occurring?
A. Personal observation of faulty events
B. Worldwide events and damages resulting from climate change
C. Hypothetical situations of potential damage
D. Comparisons of disasters that affect culture, religion, and tradition

Answers

Gore use to support the idea that climate change is Worldwide events and damages are resulting from climate change.

What is Climate?

Climate helps to describe how the weather in particular place is.

It includes the temperature, humidity, sunlight, rainfall and precipitation. The effect of the interaction of this factors determines the climate over a longer period of time.

Therefore, Gore use to support the idea that climate change is Worldwide events and damages are resulting from climate change.

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An owner of an apartment complex pays a previous tenant a $50 finder's fee for referring a person who becomes a new tenant. What is this arrangement NOT considered to be

Answers

This arrangement is not considered to be : Legal

What is Finders fee ?

Finders fee is the commision paid to an individual or group for facilitating a transaction. The arrangement is not considered to be legal unless the previous tenant was also a licensed real estate agent.whom will pay his tax from his earnings.

Hence we can conclude that This arrangement is not considered to be : Legal.

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if the japanese yen appreciates against the u.s. dollar,

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Answer:

If the Japanese yen appreciates against the U.S. dollar,

a. Japanese businesses gain by a decrease in the dollar price of exports to the United States.

b. Japanese consumers gain by a decrease in the yen prices of U.S. exports to Japan.

c. Japanese consumers lose by an increase in the yen price of U.S. exports to Japan.

d. U.S. consumers gain by a decrease in the dollar price of Japanese exports to the United States.

If the Japanese Yen appreciates against the United States dollar, Japanese consumers gain by a decrease in the dollar price of exports to the United States of America.

What is United States of America?

United States of America is a country consists of 50 united states on the north America continent in the western hemisphere.

Currency appreciation is the increase in the value or worth of a currency in relation to the another currency. There are several reasons for the appreciation of the currencies and these include the interest rates, government policy, business cycles and trade balances. The value of a currency changes based on its supply and the demand in the forex market. These fluctuation in values makes firms and traders increase or decrease their financial assets and profit off them.

An appreciation results in cheaper exports and expensive imports. If the Japanese yen appreciates, it means lesser the amount would be needed to purchase a dollar thereby resulting in Japanese businesses gaining a reduction in the price of exports to the United States of America.

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Jackson, the owner of a t-shirt shop, attended an entrepreneurship workshop that discussed the triple bottom line, which measures an organization's ________ performance.

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The  triple bottom line, which measures an organization's social, environmental, and financial performance.

Bottom line use to measure organization performance

Social, environmental, and financial play an important role as it help to effectively and efficiently measure an organization performance.

A company or an organization that want to know how well their company is doing need to make use of the triple bottom line to measure their company or organization performance.

Therefore social, environmental, and financial   is use to measure an organization  performance.

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All of the following are inventory costing methods used under a periodic inventory system except: Multiple choice question. weighted average specific identification last in, last out last in, first out first in, first out

Answers

All of the following are inventory costing methods used under a periodic inventory system except C. last in, last out.

What are the periodic inventory methods?

Because the periodic inventory system accounts for inventory at the end of each chosen financial period, unlike the perpetual inventory system, it can apply any of the following inventory methods:

FIFO (First In, First Out)LIFO (Last In, First Out)WAC (Weighted Average Cost)Specific identification.

Thus, all of the following are inventory costing methods used under a periodic inventory system except C. last in, last out.

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A college graduate has a Job with a monthly gross pay of 4000. He takes home less than 4000 because

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A college graduate has a job with a monthly gross pay of 4000. He takes home less than 4000 because his net pay is lower than gross pay.

What do you mean by gross pay?

Gross pay refers to the amount received by the employee without any tax deductions.

A college graduate has a job with a monthly gross pay of 4000. He takes home less than 4000 because his net pay is lower than the gross pay.

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A decrease in Net Exports causes whichof the following?

A. a rightward shift of the Demand
Curve

B. a leftward shift of the Demand Curve

C. no shift of the Demand Curve

Answers

Answer:

no shift of the demand curve

As an Agile project manager, you are working on a project that involves very high financial risks. You decide to insure some activities so that any ill happening can be compensated. What type of risk response is this

Answers

The type of risk response that can be required in this case is passive acceptance which could be for positive or negative risks.

What is Passive acceptance all about?

Passive acceptance serves as one which doesn't need any action after the documentation of the the decision.

Therefore the response help in a case of low severity and low priority risks which is involved in the Agile project  you are working on.

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Each component of a spreadsheet is identified in a specific way. which spreadsheet component is identified using letters of the alphabet? in a spreadsheet application, a is identified using letters of the alphabet.

Answers

The spreadsheet component is identified using letters of the alphabet in a column.

What is Column?

In spreadsheet, Columns is known to often run in a vertical direction while on the spreadsheet.  

Note that an Excel spreadsheet is made up of 256 columns that are labeled with the use of letters of the alphabet.

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Complete the following sentence: If people think that the price of electronics will increase in the near future, that belief may cause a(n)

Answers

The completion of the sentence is: "increase in the demand for electronics today".

What is Demand?

This refers to the number of goods that a person is ready to purchase at a given time.

Hence, we can see that based on the given sentence, it is said that the price of electronics is directly linked to the speculation of people about its future price and this can cause an "increase in the demand for electronics today".

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determine if Pepsi and Coca Cola are a duopoly​

Answers

Answer:

The soft drink industry is a duopoly with differentiated products. Two firms, Coca-cola and Pepsi, compete through Cournot quantity-setting competition. Denote the quantity that Coca-cola and Pepsi produce by Q1 and Q2, respectively. The demand curve for the industry is P = 10 – Q1 – 2Q2.

Explanation:

The mann company belongs to a risk class for which the appropriate discount rate is 12 percent. the company currently has 222,000 outstanding shares selling at $114 each. the firm is contemplating the declaration of a $4 dividend at the end of the fiscal year that just began. assume there are no taxes on dividends. answer the following questions based on the miller and modigliani model, which is discussed in the text. a. what will be the price of the stock on the ex-dividend date if the dividend is declared

Answers

What will be the price of the stock on the ex-dividend date if the dividend is declared is:$110.

Price of stock

Using this formula

Price of stock=Outstanding shares selling price-Dividend

Let plug in the formula

Price of stock=$114-$4

Price of stock=$110

Therefore what will be the price of the stock on the ex-dividend date if the dividend is declared is:$110.

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the board of directors is charged with protecting the rights of

Answers

Answer:

the organization's assets and member's investment.

The board of directors is charged with protecting the rights of the organization's assets and member's investment.

What is member's investment?

Investor Members, also known as "Subscribers," are Members who have contributed capital to the company. Brokerage accounts, Individual Retirement Accounts, education accounts, and employer-sponsored retirement plans are the four main types of investment accounts available to U.S. investors who want to achieve financial goals by investing in stocks.

Included among our 200+ full members are independent niche providers, independent stand-alone investment management companies, retail banking and investment banking conglomerates, and occupational pension plan managers.

Thus, organization's assets and member's investment.

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What is one purpose of the Federal Trade Commission?
A. To reduce government involvement in business
B. To develop international trade policies
C. To reduce competition between companies
D. To prevent unfair practices against consumers

Answers

Answer:

its d to prevent unfair practices against consumers

Explanation:

Government transfer payments ________ during expansions and ________ during recessions. A) decrease; decrease B) increase; decrease C) increase; increase D) decrease; increase

Answers

Decrease during expansion, increase during a recession

What is the organizational structure for an supermarket?

Answers

Answer:

An array of repeat customers grouped in various local areas, A chain of retail stores, various transportation systems,  A set of warehouse distribution centers, and An array of product suppliers under contract.

Explanation: In carrying out its function, a supermarket business acquires and assembles a wide assortment of goods from individual suppliers, then organizes and distributes them as-needed to a chain of retail stores for sale to local customers.

Why is it necessary to include your family's income and tax information on
a fafsa application?

Answers

Answer Including your stepparent's information on the FAFSA form helps create an accurate picture of your family's total financial strength

Why would a business prefer to keep an invention secret instead of applying for a patent

Answers

Answer Trade secrets derive their legal protection from their inherently secret nature

Using sales forecasts to make sure needed parts and materials are available at the right time and place using a computer--based operations management system is the definition of

Answers

MRP is a computer-based operations management system that relies on sales projections to ensure that the necessary parts are reachable.

What is a management system?

A management system is the set of policies and procedures that are applied in the organization to ensure that the company runs smoothly and efficiently. Management systems help the company in allotting the resources to every department.

Thus, MRP is a computer-based operations management system

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What does liability insurance not cover in the event of an
accident?

Answers

The liability insurance does not cover the intentional harm caused by the insured, Employee injuries or illnesses, Illegal acts or wrongdoing in the event of an accident.

What is a Liability Insurance?

Liability insurance is a norm to provide the insured party with some conservation against claims resulting from injuries and damage to people or property, covering both legal costs and any payouts for which the insured party would be responsible if found legally liable.

There are two types of liability coverage: bodily injury and property damage.  Many states in the US needs liability coverages, subject to limits, which is the maximum amount the insurer will pay when the incident occurs.  For example, a car accident can be expensive.  This is why there is a limit of compensation which an insurer can offer.

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what organizations offer forensic anthropology certifications

Answers

Answer: the American Society of Crime Laboratory Directors or the American Board of Forensic Anthropology.

Explanation: goooogle

Explain south africa's reaction to the recommendations given by the who

Answers

Answer:

WHO guidelines

The development of global guidelines ensuring the appropriate use of evidence represents one of the core functions of WHO.

A WHO guideline is defined broadly as any information product developed by WHO that contains recommendations for clinical practice or public health policy. Recommendations are statements designed to help end-users make informed decisions on whether, when and how to undertake specific actions such as clinical interventions, diagnostic tests or public health measures, with the aim of achieving the best possible individual or collective health outcomes.

The Guidelines Review Committee ensure that WHO guidelines are of a high methodological quality and are developed through a transparent, evidence-based decision-making process. Guidelines are subject to a rigorous quality assurance process that helps to ensure that each and every published guideline is trustworthy, impactful and meets the highest international standards.

Explanation:

WHO guidelines

The development of global guidelines ensuring the appropriate use of evidence represents one of the core functions of WHO.

A WHO guideline is defined broadly as any information product developed by WHO that contains recommendations for clinical practice or public health policy. Recommendations are statements designed to help end-users make informed decisions on whether, when and how to undertake specific actions such as clinical interventions, diagnostic tests or public health measures, with the aim of achieving the best possible individual or collective health outcomes.

The Guidelines Review Committee ensure that WHO guidelines are of a high methodological quality and are developed through a transparent, evidence-based decision-making process. Guidelines are subject to a rigorous quality assurance process that helps to ensure that each and every published guideline is trustworthy, impactful and meets the highest international standards.

the operating revenue remaining after cost of merchandise sold has been deducted is

Answers

The operating revenue remaining after deducting cost of merchandise sold is known as gross profit.

What is a gross profit?

Gross profit refers to the amount remaining after deducting all the expenses involve in production, transportation and promotion of goods.This is total profit a business is gained.

The gross profit is calculated by subtracting cost of goods sold from total sales where cost of goods sold includes all cost for selling an item.For example raw material, labour, storage costs and so on.

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Kristi is a bookkeeper for Green Lawns Company. At the end of the month, she gathers all the data needed to prepare the financial statements on a form called a _____________.

Answers

Green Lawns Company's bookkeeper is Kristi, At the end of each month, she compiles all of the data required to prepare the financial statements on a form known as a worksheet.

What is worksheet?

A sheet used as a guide in doing some work to make preliminary plans, auxiliary computations, comments or notes is called as the worksheet.

Kristi compiles all of the data needed to prepare the financial statements on a worksheet at the end of each month.

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Compound interest earned on a savings account _____.

Answers

Compound Interest earned on a savings account is compounding.

What is compound interest?

Compound Interest refers to the interest on interest. The accumulated interest on the principal amount is referred as compound interest.

For example: if you deposited 1000rs in saving account and interest provided is 2% compounded annually. Then the interest for first year is Rs20 and next year interest will be Rs20.4.

Thus the compound interest earned on saving account is refers as compounding.

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______ may be merely a stage in the evolution of international companies, and that increased globalization of sales and other value chain activities will occur over time as companies accumulate international experience.

Answers

The complete statement reads "Semi globalization may be merely a stage in the evolution of international companies, and that increased...".This is further explained below.

What is Semi globalization?

Generally, Semi globalization is simply defined as a situation of imperfect cross-border integration.

In conclusion, To some extent, semi-globalization is only the beginning of a process that will eventually lead to a greater degree of globalization of sales and other value chain operations.

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Daugherty Company owned a participating interest in an oil and gas business. In a transaction that qualifies as a sale, Daugherty transferred the entire interest to a third party. Daugherty received both cash and a forward commitment from the third party to deliver additional receivables to Daugherty over the course of the next 6 months. The CFO has asked if the forward commitment should be recognized as part of the proceeds of the sale. Which section of the authoritative guidance best outlines the accounting for a transfer of a participating interest in a financial asset that satisfies the conditions for treatment as a sale

Answers

IFRS-9 is the section of the authoritative guidance which best outlines the accounting for a transfer of a participating interest in a financial asset.

What is IFRS-9?

This is a financial instrument which measures and classifies assets, liabilities etc at a fair value.

The transfer of participating interest in a financial asset is done after the conditions for treatment as a sale is satisfied.

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A manufacturer of fishing equipment conducted a test of its products by giving them to eight fishermen who used them with the following results. Ed and Flo used a Hot Spot lure and caught no fish. Dan and Amy used a Trusty rod with a Husky reel, and Amy caught fish but Dan did not. Jake used a Sure Catch lure, a Best Bet rod, a Spiffy reel, and caught fish. Bill and Tim used a Husky reel, but only Bill caught fish. Kat used a Best Bet rod with a Husky reel and caught fish. Amy and Kat used a Sure Catch lure, but only Kat used monofilament line. Bill used a Trusty rod, monofilament line, and a Sure Catch lure. Flo and Tim used Best Bet rods, and both Tim and Dan used Dynamite lures. Finally, Flo used a Husky reel, Jake and Dan used monofilament line, and Ed used a Spiffy reel on a Trusty rod. What conclusion can the manufacturer draw about the power of this equipment to catch fish

Answers

The conclusion that the manufacturer can draw about the power of this equipment to catch fish is that the fishing equipment have different degree of catching fish.

What is conclusion?

Note  that there are a lot of fishing equipment that was given by the manufacturer such as Trusty rod with a Husky reel, Trusty rod, monofilament line, and  others.

Note that they will not all function at the same level as  they all have the extent to which they can catch fishes. Some may be faster than the others why some may attract fishes quickly.

Conclusively, The conclusion is that the fishing equipment have different degree or extent to catching fish.

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The _____ of a firm includes managers who directly supervise nonmanagement employees.

Answers

Answer:

it’s called the first line management

Explanation:

it should be a first line management or a group of those people.

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