Partners Ken and Macki each have a $40,000 capital balance and share income and losses in the ratio of 3:2. Cash equals $20,000, noncash assets equal $120,000, and liabilities equal $60,000. If the noncash assets are sold for $60,000, and both partners agree to make up any capital deficits with personal cash contributions, Partner Macki will eventually receive cash of
Answers (2)
Know the Answer?
Not Sure About the Answer?
Find an answer to your question 👍 “Partners Ken and Macki each have a $40,000 capital balance and share income and losses in the ratio of 3:2. Cash equals $20,000, noncash ...” in 📗 Business if the answers seem to be not correct or there’s no answer. Try a smart search to find answers to similar questions.
Search for Other Answers
You Might be Interested in
Hercules movers pays a constant annual dividend of $1.75 per share on its stock. last year at this time, the market rate of return on this stock was 14.8 percent. today, the market rate has fallen to 11.2 percent.
Answers (1)
Geena is testing an ad using the nine principles established by Positioning Advertising Copy Testing (PACT).
Answers (1)
What does the federal provision for "incidental uses and disclosures" mean? Accidental uses and disclosures are not subject to penalties provided reasonable safeguards are in place and there has been no negligence.
Answers (1)
Which of the following is true of the maturity stage of the product life cycle? a) Harvesting is a strategy that is widely used by companies during the maturity stage.
Answers (1)
Pember Corporation started business in 2007 by issuing 200,000 shares of $20 par common stock for $36 each. In 2012, 30,000 of these shares were purchased for $52 per share by Pember Corporation and held as treasury stock.
Answers (1)
New Questions in Business
The marketing manager of ToyBiz indicated that due to manufacturing efficiencies and market buzz, a new toy they were about to launch was likely to generate revenue beyond original projections.
Answers (1)
Astronauts can use 3D and molecular printers for shelter construction and food preparation on site instead of having to carry the materials to mission sites, thus A.
Answers (1)
arter Company sells merchandise on account for $4,000 to Hannah Company with credit terms of 2/10, n/30. Hannah Company returns $600 of merchandise that was damaged, along with a check to settle the account within the discount period.
Answers (1)
Which appraisal method would be most useful in appraising an unusual building which has a very limited and specific use? a. price approach b. cost approach c. sales comparison approach d. income approach?
Answers (1)
What type of investment pays you a dividend?
Answers (1)