Partners X, Y and Z have capital balances of $80, 000, $180,000 and $60,000 respectively. Immediately prior to liquidation. Total remaining assets have a book value of $320,000 and assume liabilities have been paid. There is one remaining asset with a fair market value of $70,000. All three partners agree to share profit and loss equally. Z wishes to take the asset with him and start a new business and would accept $70,000 in cash; the remaining partners agree this would be fair. How much cash in addition to the asset would first be distributed to Z before any of the other partners receive anything? a. $100,000 b. $240,000 c. $30,000 d. $50,000

Answers

Answer 1

The cash distributed to Partner Z before the other partners is $60,000.

Data and Calculations:

Book value of assets = $320,000

Fair value of asset = $70,000

                                                     X              Y                Z             Total

Capital balances                $80,000   $180,000  $60,000    $320,000

Total assets available for distribution                                     $390,000

Assets assumed by Z                                          ($70,000)     ($70,000)

Balance                                                                                    $320,000

Distribution to partners  $80,000   $180,00   $60,000    $320,000

Cash distribution to partners depends on the cash realized from the assets.

Thus, the cash distributed to Partner Z before the other partners is $60,000.

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Related Questions

Describe how personal goals, lifestyle, background, hobbies, interests, experience, abilities and financial
resources will impact a business.

Answers

It should be noted that personal goals, lifestyle, financial resources play a vital role in the success and growth of a business.

Experience plays a vital role in q business. When an individual has previous experience regarding a business, this will help shape the person in the right direction.

Also, having the financial resources to meet one's needs are important. Having huge finance can aid the development of one's business.

One's lifestyle and background also matter. It's important to engage in the activities that will lead to the success of the business.

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Lucy and Everly, a clothing retail company, wants to collect secondary data on the buying behavior of teenage customers in its new geographic market. Which action will Lucy and Everly most likely take in order to obtain this data

Answers

The action that Lucy and Everly will most likely take is obtaining of data compiled by databases created by marketing research firms within the new geographic market.

Marketing research means a process of gathering, recording, analyzing and drawing conclusion on collected data from potential customers of a product to facilitate decision making.

Main purpose of the marketing research is to provides information which are relevant for decision making in the firm.

A marketing research data are also provided by marketing research firms to firms who need them.

In conclusion, the action that Lucy and Everly will most likely take is obtaining of data compiled by databases created by marketing research firms within the new geographic market.

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which ethical principle reflects the idea that everyone is granted a moral norm of society

Answers

Individual right is the ethical principle that reflects the idea that everyone is granted a moral norm of society.

The three distinct types of ethical principles are:

UtilitarianismIndividual rights Distributive justice

Individual rights show the belief that everyone has entitlements that let him/her act in a certain way.

The individual rights principle includes more than legal rights; it also includes human rights that everyone is granted as a moral norm of society

Some of the individual rights are:

Freedom of movement,Physical security Freedom of speechFair trialFreedom from torture.

Therefore, the ethical principle that reflects the idea that everyone is granted a moral norm of society is Individual right.

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which of the following describes a federal student loan? a funds provided by a private business that do not need to be paid back b funds provided by credit unions that must be paid back c funds provided by government that do not need to be paid back d funds provided by the government that must be paid back​

Answers

Answer:

d

Explanation:

Plain and simple:)

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Arguments against industrial policy include all of the following except Select one: a. foreign industrial policy success has been variable. b. The need to rescue "sunset" industries. c. the need to promote "sunrise" industries. d. reduces market efficiency

Answers

b) the need to rescue “sunset” industries, also if you search “ BUS 345: Chapter 11 MC” on quizlet it will give you all the answers on this!

Discussion Topic
Think of an unanticipated major expense that you might face in the next five years.
Discuss how you will ensure that it does not devastate you financially.

Answers

Answer:

An unanticipated major expense that might happen in the next five years would be my car breaks down. I can ensure this inconvenience does not devastate me financially by starting a savings account. Starting a savings account can and will help me in times of need. I can't access the money unless if I really need it.  

Explanation:

the Answer:

Examples are groceries, the electric bill, fuel bills, taxes and insurance to mention a few. Unexpected expenses are those expenses you did not see coming. An example would be going for the inspection of your car and not passing because there is something that must be repaired.

Explanation:

Carol is a single mother with two qualifying dependent children. The amount of her Child Tax Credit was limited by her tax liability. Carol may qualify for: The Additional Child Tax Credit. An additional itemized deduction. An additional adjustment to income. An additional nonrefundable credit.

Answers

Considering the situation described above, Carol may qualify for "the Additional Child Tax Credit."

What is Additional Child Tax Credit?

Additional Child Tax Credit is defined by the Internal Revenue Service (IRS) as the refundable credit individuals may receive if their Child Tax Credit is more than the total amount of income taxes they owe, in as much they meet other listed requirements.

Given that Carol has more than one child, this may lead to Additional Child Tax Credit for her, in as much her children qualified or eligible for the Additional Child Tax Credit.

Hence, in this case, it is concluded that the correct answer is option A. "The Additional Child Tax Credit."

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Each week, Namratha updates an online newsletter to share information about interesting topics related to the company. All company employees have access to the newsletter site. This is an example of _______ communication.

Answers

The type of communication which Namratha is using when sharing an online newsletter among employees is:

Internal communication

According to the given question, we are asked to state the type of communication which Namratha is using when sharing an online newsletter among employees.

As a result of this, we can see that because Namratha shares an online newsletter about the company and all the company employees has access to this, then this is an example of an internal communication because it shares the information with people in the office.

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Bobby decides to sell lemonade on a hot summer day. If Bobby sells 25 glasses of lemonade for $3.00 per cup, and his average total cost is $2.60, what are Bobby's economic profits for the day

Answers

Answer:

$0.60

Hope this helps!!

Please tell me if I have made an error, I enjoy learning from my mistakes

The economic profit that is earned by Bobby on the selling lemonade glasses is $10.

What is sales revenue?

Sales revenue is the income being obtained by an entity when they sold the goods to customers.

Given values:

Total revenue: $75 (25 glasses X $3)

Average total cost: $65 ( 25 glasses X $2.60)

Computation of the total economic profit:

[tex]\rm\ Economic \rm\ profit=\rm\ Total \rm\ revenue-\rm\ Average \rm\ total \rm\ cost\\\rm\ Economic \rm\ profit=\$75-\$65\\\rm\ Economic \rm\ profit=\$10[/tex]

Therefore, the amount of economic profit is $10 received to Bobby after making sale.

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How should Sophia advise her senator? Why?

Answers

Answer:

Explanation:

A Promotion

explain element of business plan​

Answers

Answer:

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Explanation:

It should include a mission statement, a brief history of your business, and the highlights of your company's growth, your product or service and a summary of future plans. It also should explain why you are seeking financing and information about your banking and currency investors.

give two examples of graphs and two examples of charts.

Answers

Answer:

A Bar Chart. A PIE CHART. LINE CHART. Area Chart. Dot Plot. A Pictogram. Radar Chart.

Explanation:

Answer:

Types of Graphs and Charts

Bar Chart/Graph.Pie Chart.Line Graph or Chart.Histogram Chart.Area Chart.Dot Graph or Plot.Scatter Plot.Bubble Chart.

Chester has negotiated a new labor contract for the next round that will affect the cost for their product Coat. Labor costs will go from $2.95 to $3.55 per unit. Assume all period and other variable costs remain the same. If Chester were to absorb the new labor costs without passing them on in the form of higher prices, how many units of product Coat would need to be sold next round to break even on the product

Answers

Based on the fact that Chester decides to absorb the new labor cost, the units needed to breakeven would be 1,566 units.

The current fixed costs are $8,346.

The current contribution margin is $11,401

The units sold are:

= Sales / Selling price

= 30,785 / 16

= 1,924 units

The new contribution margin would be:

= Current contribution margin - Increase in labor costs

= 11,401 - ( (3.55 - 2.95) x 1,924)

= $10,255.60

Breakeven point is:

= Fixed costs / Contribution margin per unit

= 8,346 / (10,255.60÷ 1,924 units)

= 1,566 units

In conclusion, the breakeven point is 1,566 units

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Rational and Normative modes of decision making are used. Then intuition or gut feeling also play a role in this process. How does a manager, making decisions in real life situation, strike a balance between these modes to make quick but right decisions.

Answers

A manager, making decisions in real-life situations, strikes a balance between these ways to make quick but correct decisions based on systemic organizational vision and conceptual skills.

The manager's experience will help him to make decisions using rational and normative ways, and thus analyze what is the best strategy for effective decision making.

Conceptual skills refer to the manager's systemic view, which understands the organization as an integrated system and must involve a set of thoughts, processing and planning to improve the business.

Therefore, decision making must be taken in a rational and normative way according to the context of the situation that requires a decision, and it is up to the manager to use the best tool to make a decision aligned with the company's objectives and goals.

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Prepare Cash Budget For 3 Months Brewster Corporation expects the following cash receipts and disbursements during the first quarter of 2016 (receipts exclude new borrowings and disbursements exclude interest payments on borrowings since January 1, 2016)
January February March
Cash receipts $280,000 $300,000 $270,000
Cash disbursements 260,000 340,000 280,000
The expected cash balance at January 1, 2016, is $62,000. Brewster wants to maintain a cash balance at the end of each month of at least $60,000. Short-term borrowings at 1% interest per month will be used to accomplish this, if necessary. Borrowings (in multiples of $1,000) will be made at the beginning of the month in which they are needed, with interest for that month paid at the end of the month. Prepare a cash budget for the quarter ended March 31, 2016.

Answers

Brewster Corporation's Cash Budget for the three months will be prepared as follows:

Cash Budget

                                                January        February         March

Beginning balance                $62,000         $82,000        $60,810

Cash receipts                      $280,000      $300,000     $270,000

Borrowings                                                     19,000          10,000

Total cash available           $342,000       $401,000      $340,810

Cash disbursements            260,000        340,000       280,000

Interest payment on loan                                   (190)             (290)

Ending balance                   $82,000         $60,810      $60,520

Minimum cash balance     $60,000         $60,000     $60,000

Data and Calculations:

                                        January        February         March

Beginning balance         $62,000         $82,000       $60,810

Cash receipts               $280,000      $300,000    $270,000

Borrowings in February and March = $19,000 and $10,000

Interest payment on loans (February) = $190 ($19,000 x 1%)

Interest payment on loans (March) = $290 ($29,000 x 1%)

Required minimum monthly cash balance = $60,000

Thus, Brewster Corporation's cash budget for the first quarter of 2016 shows a cash balance of $60,520 with a loan of $29,000.

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The language used in texting is acceptable in business writing. True or false

Answers

Answer: The answer is generally false.

Talese would like to claim her granddaughter, Natalia, as her qualifying child so she can claim the Earned Income Tax Credit (EITC). However, Natalia's mother, Taye, is also eligible to claim Natalia as her qualifying child for EITC purposes. As Talese's tax preparer, what information would you share with Talese

Answers

Explanation:

Taye holds a higher right and may claim EITC based on Natalia because Taye is natalia parent

Because Taye is Natalia's parent, Taye has a larger claim and may make an EITC ( Earned Income Tax Credit) claim based on Natalia.

What is Earned Income Tax Credit?

Low- to moderate-income employees and their families can benefit from tax breaks thanks to the Earned Income Tax Credit (EITC). If you are eligible, you can use the credit to lower your tax liability and perhaps boost your refund. For working low- to moderate-income people and couples, especially those with children, the federal earned income tax credit (EITC or EIC) is a refundable tax benefit.

The number of children and the recipient's income is factors that affect the EITC benefit amount. Adults with low incomes who are not parents are eligible. An individual or couple must meet conditions including relationship, age, and shared domicile in order to claim one or more people as their qualifying kids. EITC develops gradually and reaches a medium-length plateau.

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At a single-phase, multiple-channel service facility, customers arrive randomly. Statistical analysis of past data shows that the interarrival time has a mean of 20 minutes and a standard deviation of 4 minutes. The service time per customer has a mean of 15 minutes and a standard deviation of 5 minutes. The waiting cost is $200 per customer per hour. The server cost is $25 per server per hour. Assume general probability distribution and no buffer capacity restriction

Required:
a. Find the optimal number of servers to be employed to minimize the total of waiting and server costs.
b. Find the average waiting time and the average total time through the system for the optimal case.
c. Find the cost per hour, average waiting time, and average flow time for one server if the probability distributions for the interarrival time and service time are assumed to be exponential and the mean values remain the same. .

Answers

Cost per hour with one server = $ 59.00

Cost with 2 servers = $ 52.19

Cost with 2 servers = $ 75.40

Total cost with 2 servers is the lowest ($ 52.19). Therefore, two servers are optimal.

b) With 2 servers,

Average waiting time, Tq = 0.2188 minutes

Total time = Tq+p = 0.2188+15 = 15.2188 minutes

c) Arrival rate, \lambda = 60/20 = 3 per hour

Service rate, \mu = 60/15 = 4 per hour

Lq = \lambda 2/(\mu*(\mu-\lambda)) = 32/(4*(4-3)) = 2.25

Cost per hour = Lq*Cw+Cs = 2.25*200 + 25 = $ 475

Waiting time, Wq = Lq/\lambda = 2.25/3 = 0.75 hour = 45 min

Flow time = Wq+1/\mu = 0.75+1/4 = 1 hour = 60 min

A lessor enters a sales-type lease with an unguaranteed residual. The lessor will record:____.
a. A credit to sales revenue for the fair value of the asset less the gross amount of the unguaranteed residual value.
b. A debit to lease receivable for the gross amount less the present value of the unguaranteed residual value.
c. A credit to sales revenue for the fair value of the asset.
d. A credit to sales revenue for the fair value of the asset less the present value of the unguaranteed residual value.

Answers

Answer:

b

Explanation:

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In the month of March the Chester Corporation received and delivered orders of 182,000 units at a price of $15.00 for revenue of $2.730mil for their product Cedar. Chester uses the accrual method of accounting and offers 30 day credit terms. By the end of May Chester had collected payments of $2.730mil for the March deliveries. How much of the collected $2.730mil should Chester show on the March 31st income statement and how much on the May 31st income statement?

Answers

If all units were delivered by March 31st based on revenue recognition rules app 2.730 is recognizedas revenue in March with Dr accounts receivable and credit revenue.

When the funds are collect in may the accounts receivable is cleared to cash/Bank

Dr Bank and Cr accounts receivable

How ever since Chester Corp offers only 30 day credit terms the receivable is 30 days late they can Charge late payment fees and recognize the late fees as revenue in May i.e. the month the late fees is recognized

________ is the amount of data that can be transmitted across a transmission medium measured in bits per second.

Answers

Answer- Bandwidth

Explanation:

i looked up ur question so im not sure if its correct

The goal of a subsidy is to __________. a.) discourage consumption of a good b.) raise revenue for the government c.) encourage production of a good d.) avoid deadweight loss

Answers

The goal of a subsidy is to encourage production of a good.

A subsidy can be described as when the government reduces the cost of production or the cost of a good or service to consumers. It is a form of transfer of wealth from the government to consumers or producers.

The purpose of subsidies is to reduce the price of goods and services. This encourages production or consumption. Subsidies reduces the revenue of the government.

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How do social media sites impact the hospitality and tourism industry and its employees?

Answers

Answer:

Social media permits hotel managers to get immediate and direct feedback from their clients, so they can understand better their needs and wants. On the other hand, social media can have a negative effect too.

Explanation:

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Beck Manufacturing reports the following information in T-accounts for the current year. Raw Materials Inventory Debit Credit Beginning 10,000 Purchases 45,000 Available for use 55,000 Direct materials used 46,500 Ending 8,500 Work in Process Inventory Debit Credit Beginning 14,000 Direct materials used 46,500 Direct labor 27,500 Overhead 55,000 143,000 Cost of goods manufactured 131,000 Ending 12,000 Finished Goods Inventory Debit Credit Beginning 16,000 Cost of goods manufactured 131,000 Available for sale 147,000 Cost of goods sold 129,000 Ending 18,000 1. Prepare the schedule of cost of goods manufactured for the year. 2. Compute cost of goods sold for the year.

Answers

Cost of goods manufactured is $131,000 and Cost of goods sold is $129,000.

                           Cost of goods manufactured

Particulars                                                               Amount

Direct Material:  

Beginning Inventory of Raw Material     $10000

Add: Purchase of raw material                 $45000

Raw material available for use                 $55000

Less: Ending inventory of Raw material  ($8500)

Direct Material used                                                    $46500

Direct labor                                                                  $27500

Factory Overhead                                                       $55000

Total manufacturing Cost                                           $129000

Add: Beginning inventory of WIP                               $14000

Total cost of WIP                                                         $143000

Less: Ending Inventory of WIP                                   ($12000)

Cost of goods Manufactured                                    $131000

           Cost of goods sold for the year:

Particulars                                               Amount

Beginning stock of finished goods       $16000

Cost of goods manufactured                $131000

Goods available for sale                        $147000

Ending stock of Finished goods           ($18000)

Cost of goods sold                                $129000

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Your food truck at City Park is open year-round, but your sales are highest in the summer. Which action should you take in deciding whether or not to buy a newer food truck

Answers

The action that should be taken in making the decision will be D. Model the scenarios based on the likelihood of receiving increased cash flow.

From the complete question, it should be noted that taking into account the city license and utility costs when making a decision isn't the appropriate thing to do in this case.

It's important to model the scenarios based on the likelihood of receiving increased cash flow. This will help in deciding whether or not to buy a newer food truck.

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The newest employee at Edwards Escrow Co., Adam Riley, is handling the escrow
paperwork for the sellers and the buyers on an Anaheim property sale. When Adam
goes to figure out the prorations for the month of February, for which some of the
expenses have already been paid by the sellers, Adam cannot remember what
number to use to figure out the proration. Which of the following should he use?

Answers

Since Adam cannot remember the number he used for the proration, then, he should use 28 days because that is the actual number of days in February,

Proration is an act of dividing the property expenses between a buyer and seller to ensure that the parties only pay for the days they owns the property.

Since the month of February contains 28 days, then, the number of days used in the calculation of the Proration will be maximum of 28 days

Therefore, the Option A is correct because 28 days is the actual number of days in February.

Missing options includes

28 days because  that is the actual number of days in February, the month for which the prorations are being calculated., 30 days which escrow companies use as their base month in figuring out prorations31 days which escrow companies use as their base month in figuring out prorations.

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Martin is an intern working for Tennessee Fried Chicken (TFC), an international company with over 1,000 franchised restaurants throughout the United States and in 21 other countries. TFC heavily advertises on television and in various print media that its chicken is superior due to its blend of "42 secret herbs and spices." Many have tried to duplicate the recipe unsuccessfully, and burglars have even been caught trying to steal it. One day Martin is called into the president's office for an assignment, and during their conversation, the president leaves the room, leaving Martin alone. Martin notices that the wall safe is open and looks inside, where he sees an envelope labeled "THE RECIPE." He opens it and finds that it is the list of the 42 secret herbs and spices, along with quantities and order of use. He quickly makes a copy of the recipe and returns the envelope to the safe. That afternoon, he calls Bluto's Fried Chicken, a TFC competitor, and informs Bluto's of the information he possesses, and they arrange a meeting. If Martin sells the recipe to Bluto's, who, if anyone, would be guilty of mis-appropriation?
a. If Martin sells the recipe to Bluto's, Martin is guilty of misappropriation but Bluto's is not guilty of misappropriation.
b. If Martin sells the recipe to Bluto's, Martin is not guilty of misappropriation but Bluto's is guilty of misappropriation.
c. If Martin sells the recipe to Bluto's, both Martin and Bluto's are guilty of misappropriation.
d. Neither Martin nor Bluto's is guilty of misappropriation because leaving the safe open shows that the secret was not guarded and guarding is necessary to qualify for trade secret protections.

Answers

The culprits of misappropriation would be both Martin and Bluto's Fried Chicken.

Misappropriation is a crime against wealth or property. This crime occurs when a person or group seizes someone else's property, to make a profit.

According to the foregoing, both are incurring misappropriation because:

Martin: He was not the creator or owner of the recipe, he stole it in a moment of the owner's carelessness and wanted to obtain personal gain in exchange for the product owned by TFC.

Bluto's Fried Chicken: He knows that Martin obtained the recipe illegally, yet he still decides to make the transaction to copy the recipe and make more profit in his business.

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The Demand Curve is a line that is
downward sloping and to the right.
What important aspect of demand
does this illustrate?
A. At high prices, people want a small quantity. At low
prices, people want a large quantity.
B. At high prices, people want a large quantity. At low
prices, people want a small quantity.
C. People are indifferent to price.

Answers

Answer:

A. At high prices, people want a small quantity. At low

Explanation:

Help me pls

Jin is an accountant who works for the national government, auditing the tax returns of large corporations. The pathway of the Government and Public Administration cluster that Jin works in is:

Question 13 options:

Public Management and Administration.


Revenue and Taxation.


Foreign Service.


Planning.

Answers

Revenue and Taxation department is the pathway of the Government and Public Administration cluster that Jin works in.

The department of the Revenue and Taxation is a pathway that exist under the  Public Administration.

The main role of the department of the Revenue and Taxation is to ensure collection of tax in the state, auditing of tax as well as remittance of tax revenue to the Federal coffers.

Hence, the Revenue and Taxation department is the pathway of the Government and Public Administration cluster that Jin works in.

Therefore, the Option B is correct.

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Answer:

Revenue and Taxation.

Explanation:

took the test

On-shelf in stock percentage best describes a product availability metric for a ______.

Answers

Based on the information given, it can be deduced that on-shelf in stock percentage relates to the retailer.

It should be noted that on shelf in stock percentage simply means the measurement of the percentage of time that a particular product will be available on a shelf in a store.

On-shelf in stock percentage best describes a product availability metric for a retailer. This simply means a business where consumers buy goods from.

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A substance has a molar heat of combustion of -810.4 kj/mol. when 0.285 mol of the substance is burned in a calorimeter containing 8.60 kg of water, the increase in water temperature is: what do you expect to happen to our oak populations? Explain how this could affect other organisms in the ecosystem. Which values from the given replacement set make up the solution set of this inequality?5m10; {0, 2, 4, 6}{0, 4, 6}{2}{0, 2}{2, 4, 6} how to set brainlyest Give ONE example of how feelings, thoughts and behaviour influence each other. Feel free to make reference to a particular situation. Which of these are causes of long-term climate change? Check all that apply. The next question refers to the following passage. The sentences have been numbered to help you identify them more easily.(1) As she was driving to visit her twin, Jayla had a strange feeling that something bad was going to happen.(2) Meanwhile, Kayla had the same exact premonition.(3) Worried about her sister, Kayla called Jayla's cell phone.(4) Because she took her eyes off the road to answer the phone call, Jayla lost control of her car and crashed through the front of Kayla's house.What is the function of the introductory word in sentence 2? (5 points)a. It refers to the person being addressed.b. It is a transition word.c. It provides a short answer.d. It creates a short delay.(i will mark brainiest if you have a good answer and no links plz) A piece of pizza is 3 inches long. A sub sandwich is 8% longer than the slice of pizza.How long is the sub sandwich? PLEASE SOLVE! NO LINKS!! WILL MARK BRAINLIEST!! please solve all questions. don't just take the poin.ts either. What are the solutions to the equation ( 5 x 15 ) 2 = 100 ? Q: which sentence is an example of an informative claim, A. Students should choose a college based only on the rigorousness of academic programs B. Colleges such as Harvard and Princeton have long been considered the best in the country C. The cost of a college education should be affordable to everyone, not just the wealthy D. It is the government's responsibility to ensure that all students receive a proper education to find detailed information about the origin of an email message, look at the ________________. A source is likely reliable if the author is an expert AND cites their ownsources.TrueFalse 152 feet in 16 seconds moira solved rubik's cube in 3 minutes and 30 seconds. what is moira's solving rate? What best describes how the plants domesticated in China and the Middle East? Which of the following polynomial functions is graphed below? OA. f(x) = (x - 2) ^ 2 * (x + 3) * (x - 1) O B. f(x) = (x + 2) ^ 2 * (x - 3) * (x + 1) O. f(x) = (x + 5) * (x + 1) ^ 2 * (x - 1) D. f(x) = (x - 5) * (x - 1) ^ 2 * (x - 1) The value of -2 is_________the value of 1.5 because-2 lies to the__________of 0 and 1.5 lies to the_________of 0 on the number line. find the perimeter and area? The volume of a cylinder is 5401 cubic meters and the height is 15 meters. Find the length of the diameter of the cylinder.