BUSINESS COLLEGE

Farmer and Taylor formed a partnership with capital contributions of $200,000 and $250,000, respectively. Their partnership agreement calls for Farmer to receive a $70,000 per year salary. The remaining income or loss is to be divided equally. If the net income for the current year is $135,000, then Farmer and Taylor's respective shares are:

Answers

Answer 1
Answer:

Answer:

Farmer and Taylor's respective shares are $102,500 and $32,500

Explanation:

For computing their respective shares, first we have to calculate the remaining income of each partner is shown below:

Remaining income = Net income - received amount

                               = $135,000 - $70,000

                              = $65,000

It will be divided equally in 1:1 ratio

So, the remaining income would be

Farmer = $32,500

Taylor = $32,500

Now, Their shares would be

Farmer = Salary received + his share of income

            = $70,000 + $32,500

            = $102,500

And, for Taylor it would be $32,500

Related Questions

A marketing channel is defined as a group of individuals and organizations that ______.(A) takes title to products and resells them.(B) manages transportation and warehousing functions.(C) consumes about one-half of every dollar spent on products in the United States.(D) links producers to other marketing intermediaries.(E) directs the flow of products from producers to customers.
The Acmeville Metropolitan Bus Service currently charges $0.88 for an all-day ticket, and is used by an average of 433 riders a day. The bus company is not earning a profit, but according to their contract with the city, they cannot cut the number of buses on the road. They must therefore find a way to increase revenues. The bus company is considering increasing the ticket price to $0.99. The marketing department\'s studies indicate this price increase would reduce usage to 169 riders per day. Calculate the price elasticity of demand for bus tickets to determine if the bus company should increase price or decrease price to increase revenues.Price elasticity of demand is? 7.45 I get but on the online hw, it says its wrong? I tried 7.5 too? I used the midpoint formula (q2-q1)/((q2+q1)/2) / (p2-p1)/((p2+p1)/2)
A company wishes to raise $27 million by issuing 15-year semi-annual coupon bonds with face value of $1,000 and coupon rate of 6.60 percent. The bonds will have a yield to maturity of 7.70 percent. Determine the minimum number of these bonds the company needs to issue to raise the desired amount of money.
Corporation needs to raise $70 million to finance its expansion into new markets. The company will sell new shares of equity via a general cash offering to raise the needed funds. The offer price is $30 per share and the company’s underwriters charge a spread of 8 percent. If the SEC filing fee and associated administrative expenses of the offering are $575,000, how many shares need to be sold? (Do not round intermediate calculations and enter your answer in shares, not millions of shares, rounded to the nearest whole number, e.g., 1,234,567.)
5. Garden Variety Flower Shop uses 750 clay pots a month. The pots are purchased at $2 each. Annual carrying costs per pot are estimated to be 30 percent of cost, and ordering costs are $20 per order. The manager has been using an order size of 1,500 flower pots. a. What additional annual cost is the shop incurring by staying with this order size

P7-9: Common stock value: Constant growth McCracken Roofing Inc. common stock paid a dividend of $1.20 per share last year. The company expects earnings and dividends to grow at a rate of 5% per year for the foreseeable future. a. What required rate of return for this stock would result in a price per share of $28? b. If McCracken expects both earnings and dividends to grow at an annual rate of 10%, what required rate of return would result in a price per share of $28?

Answers

Answer:

a) rate of return = 0.095 = 9.5%

b) rate of return = 0.147143 = 14.7143%

Explanation:

a) using the constant growth model:

P = (D0 (1+g))/(ke - g))

28=(1.2(1.05))/(ke-0.05) \n

thereforeke =(1.2(1.05))/(28) +0.05

ke = 0.095 =9.5%

b) using the working from above, we showed that

ke=(Do(1+g))/(P0) + g

given g= 10%, P0=28 and D0=1.2

ke = (1.20(1+0.1))/(28) + 0.1 = 0.147142857 = 14.7143%

Next year, Baldwin plans to include an additional performance bonus of 0.5% in its compensation plan. This incentive will be provided in addition to the annual raise, if productivity goals are reached. Assuming the goals are reached, how much will Baldwin pay its employees per hour? $28.15
$29.70
$31.04
$28.29

Wages are 28.15 annual raise is 5%

Answers

Answer:

$29.70

Explanation:

The computation of the per hour pay is shown below:

= Wages × (1 + total raise)

where,

Wages is $28.15

And, the total raise would be

= 1 + (0.5% + 5%)

= 1 + 5.5%

= 1 + 0.055

= 1.055

Now put these values to the above formula  

So, the value would equal to

= $28.15 ×  1.055

= $29.70

We simply multiplied the wages by the total raise percentage

Mary, a merchant, was in the business of selling flowers to local florists. Melissa was the owner of Little Flower, Inc. and she regularly purchased her flowers from Mary. One day, Melissa called Mary and ordered 20 dozen roses, 15 dozen carnations, 10 dozen daisies, baby breaths, 6 dozen tulips, and some plants. Everything totaled $1,200, and was to be delivered in 14 days. After the two ended their call, Mary sent Melissa an e-mail detailing the order and her acceptance. Melissa never responded to the e-mail. Eleven days later, Mary delivered the merchandise to Melissa, but she refused shipment. Mary sued Melissa for breach of contract. What is the likely result? Mary wins because the contract involved specially manufactured goods. Mary loses because Melissa did not sign anything. Mary loses because the contract was not in writing. Mary wins because Melissa failed to object to the merchant's confirmation memorandum.

Answers

Answer:Mary wins because Melissa failed to object to the merchant's confirmation memorandum.

Explanation:

A contract is first establish based on offer and acceptance between two parties. The telephone conversation of Mellisa to Mary constitute a valid offer and the email communication of Mary constitute a valid acceptance.

Furthermore the time interval between the email communication and delivery of the goods are enough period for Mellisa to counter the acceptance memorandum of Mary which she failed to carry out. This is the reason Mary wins.

Marshall Enterprises charged the following amounts of overhead to jobs during the year: $20,000 to jobs still in process, $60,000 to jobs completed but not sold, and $120,000 to jobs finished and sold. At year-end, Marshall Enterprise's Factory Overhead account has a credit balance of $5,000, which is not a material amount. What entry should Marshall make at year-end?a. No entry is needed.
b. Debit Factory Overhead $5,000; credit Cost of Goods Sold $5,000.
c. Debit Cost of Goods Sold $5,000; credit Factory Overhead $5,000.
d. Debit Factory Overhead $5,000; credit Work in Process Inventory $5,000.
e. Debit Factory Overhead $5,000; credit Finished Goods Inventory $5,000.

Answers

Answer:

the correct answer is

b. Debit Factory Overhead $5,000; credit Cost of Goods Sold $5,000.

good luck

Earnings available to common shareholders are defined as net profitsSelect one:a. after taxes.b. after taxes minus preferred dividends.c. after taxes minus common dividends.d. before taxes.

Answers

Answer:

The correct answer is b. after taxes minus preferred dividends.

Explanation:

Net profit:Add all the revenues of the firm and deduct all the expenses of the firm. If the amount come in positive, the firm earns profit else suffered loss.

In mathematically,

Net profit = Sales revenue - all expenses

The earning which is available to shareholders is net profit after paying preference dividend to preference shareholders.

As first we have to pay the dividend to preference shareholders then we distribute the income to equity shareholders.

In mathematically,

EBIT - taxes - Preferred dividend

Hence, the correct option is b. After taxes minus preferred dividends.

We can now say that Lacey has an ______________ for her position.

Answers

Answer:

admiration ????

Explanation:
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