Donald, Anne, and Todd have the following capital balances; $40,000, $50,000 and $30,000 respectively. The partners share profits and losses 20%, 40%, and 40% respectively. Anne retires and is paid $80,000 based on the terms of the original partnership agreement. If the bonus method is used, what is the capital of the remaining partners?
Answers (1)
Know the Answer?
Not Sure About the Answer?
Find an answer to your question ✅ “Donald, Anne, and Todd have the following capital balances; $40,000, $50,000 and $30,000 respectively. The partners share profits and ...” in 📘 Business if you're in doubt about the correctness of the answers or there's no answer, then try to use the smart search and find answers to the similar questions.
Search for Other Answers
You Might be Interested in
On December 1, 2018, your company borrowed $39,000, a portion of which is to be repaid each year on November 30. Specifically, your company will make the following principal payments: 2019, $5,200; 2020, $7,800; 2021, $10,400; and 2022, $15,600.
Answers (1)
Ryan Company deposits all cash receipts on the day they are received and makes all cash payments by check. Ryan's June bank statement shows $18,361 on deposit in the bank.
Answers (1)
McLeod Corporation is a merchandising company. The year began with inventory of $18,000, Purchases for the year were $43,000, and the Ending Inventory was $5,000. What is the Cost of Goods Sold that would be reported on the income statement
Answers (1)
Your retirement fund consists of a $5,000 investment in each of 15 different common stocks. The portfolio's beta is 1.20. Suppose you sell one of the stocks with a beta of 0.8 for $5,000 and use the proceeds to buy another stock whose beta is 1.6.
Answers (1)
The Victoria Fund, a child welfare fund, received $50,000 in cash in 2018. The donor requires the gift be held in perpetuity and that the income from investing this money may be used for its program of promoting adoption of young girls.
Answers (1)
New Questions in Business
A county accounts for its debt service payments in the General Fund. The amount of unmatured, unpaid interest on general long-term liabilities at the beginning of the year was $122,000 (listed on the LTL Schedule). The ending balance was $165,000.
Answers (1)
The demand function for a certain make of ink-jet cartridge is the following where p is the unit price in dollars and x is the quantity demanded each week, measured in units of a thousand. $ p = - {/color{black}0.07} x^2 - {/color{black}0.
Answers (1)
Do you think I could ever start a band?
Answers (2)
g. Kings Donut Inc common stock sells for $39.86 a share at a market rate of return of 9.5%. The company just paid its annual dividend of $1.20. What is the rate of growth of its dividend? Assume stock is in equilibrium.
Answers (1)
Jason Jewelers reported the following in its statement of cash flows: Net cash provided by operating activities $140,000 Net cash provided by investing activities 120,000 Net cash used by financing activities 150,000.
Answers (1)