The admission of a new partner to an existing partnership: a. May be accomplished only by investing assets in the partnership.
b. Causes a legal dissolution of the existing partnership.
c. Requires purchasing the interest of one or more existing partners.
d. Is almost always accompanied by the liquidation of the business.

Answers

Answer 1
Answer:

Answer:

The correct answer is letter "B": Causes a legal dissolution of the existing partnership.

Explanation:

A Partnership is an organization that operates a business with two or more owners. They share the profits in proportion to their partnership interest in percentage terms. There are two types of partnerships: general partnerships (unlimited liability) and limited partnerships (passive members who are responsible depending on how much money they contribute to the company).

Every time one of the partnership members passes away, retires, or another partner will be added, the existing partnership legally dissolves creating a new entity.


Related Questions

In some cases oligopolies can benefit society by:a)earning abnormal profits.b)taking advantage of scale economies to produce at low average cost.c)raising prices and reducing output.
Profit is the difference between a. assets and liabilities b. the incoming cash and outgoing cash c. the assets purchased with cash contributed by the owner and the cash spent to operate the business d. the amounts received from customers for goods or services and the amounts paid for the inputs used to provide the goods or services
In April 2013, Sparkle Enterprises purchased the Crimson Mine at a cost of $18,000,000. The mine is estimated to contain 500,000 tons of ore with a residual value of $2,000,000 after mining operations are completed. During 2013, 120,000 tons of ore were removed from the mine and sold. In this situation: a. The book value of the mine is $16,000,000 at the end of 2013. b. The amount of depletion deducted from revenue during 2013 is $3,840,000. c. The amount of depletion deducted from revenue during 2013 is $2,000,000. d. The mine is classified as an intangible asset with in indefinite life and is not amortized.
Beth owns a corporate office park in Ohio. Her ownership rights include the right to sell or give away the property without restriction, as well as the right to commit waste, if she chooses. Beth's ownership interest is:
You are saving for a Porsche Carrera Cabriolet, which currently sells for nearly half a million dollars. Your plan is to deposit $30,800 at the end of each year for the next 11 years. You expect to earn 7 percent each year. Required: 1. Determine how much you will have saved after 11 years. 2. Determine the amount saved if you were able to deposit $33,300 each year. 3. Determine the amount saved if you deposit $30,800 each year, but with 11 percent interest.

Shares of common stock of the Samson Co. offer an expected total return of 13.00 percent. The dividend is increasing at a constant 5.40 percent per year. The dividend yield must be: Multiple Choice 2.41% 13.00% 5.40% 7.60% 18.40%

Answers

Answer:

7.6%

Explanation:

The formula for calculating the Required return is:

Required return = Dividend yield + Capital Gain Yield

Hence,

13% = Dividend Yield + 5.40%

Dividend Yield = 7.60%.

Hope this helps.

Goodluck.

At DEC computers, according to the master schedule, the product mix for three different computers will be as follows: 50% product A, 30% product B, and 20% product C. For the coming year aggregate production quantity according to the aggregate plan is 10,400 units. The production will take place evenly throughout the year. Assuming 52 weeks per year, what is the weekly planned production for product Aa. 400
b. 200
c. 50
d. 100
e. 1000

Answers

Answer: 100

Explanation: Its 100

A customer call center is evaluating customer satisfaction surveys to identify the most prevalent quality problems in their process. Specific customer complaints have been analyzed and grouped into eight different categories. Every instance of a complaint adds to the count in its category. Which Six Sigma analytical tool would be most helpful to management here?

Answers

Pareto chart  is the Sigma Analytical tool which is used for management.

Explanation:

It is a chart or a graph that is used to represent defects and their cumulative so that analyses can indicate areas that need improvements or changes. It also indicates the statistical occurrence of these defects and their impact. It can be applied in different areas that deals with data and data analysis such as communicating data with others and where there are many problems but one wishes to focus on the most significant.

Specifically to the question the problems have been identified and isolated, therefore this tool can be used to analyse data of the already identified problems, the frequency of occurrence and causes of these defects.

A machine that cost $400,000 has an estimated residual value of $40,000 and an estimated useful life of four years. The company uses straight-line depreciation. Calculate its book value at the end of year 3What is the Book Value?A machine that cost $400,000 has an estimated residual value of $40,000 and an estimated useful life of 20,000 machine hours. The company uses units-of-production depreciation and ran the machine 3,000 hours in year 1, 8,000 hours in year 2, and 6,000 hours in year 3.Calculate its book value at the end of year 3.A machine that cost $400,000 has an estimated residual value of $40,000 and an estimated useful life of four years. The company uses double-declining-balance depreciation.Calculate its book value at the end of year 3.

Answers

a) The machine's book value at the end of year 3, using the straight-line method, is $130,000.

b) The machine's book value at the end of year 3, using the units-of-production method, is $94,000.

b) The machine's book value at the end of year 3, using the double-declining-balance method, is $50,000.

Data and Calculations:

Cost of machine = $400,000

Estimated residual value = $40,000

Depreciable amount = $360,000 ($400,000 - $40,000)

Estimated useful life = 4 years

1. Straight-line method:

Annual depreciation expense  = $90,000 ($360,000/4)

Accumulated depreciation after three years = $270,000 ($90,000 x 3)

The book value after three years = $130,000 ($400,000 - $270,000)

2. Units-of-production depreciation:

Estimated useful life = 20,000 machine hours

Total hours that the machine ran in three years = 17,000 hours

Depreciation expense per machine hour = $18 ($360,000/20,00)

Accumulated depreciation = $306,000 ($18 x 17,000)

The book value after three years = $94,000 ($400,000 - $306,000)

3. Double-declining-balance depreciation:

Annual depreciation rate = 50% (100/4 x 2)

First-year depreciation expense = $200,000 ($400,000 x 50%)

Second-year depreciation expense = $100,000 ($200,000 x 50%)

Third-year depreciation expense = $50,000 ($100,000 x 50%)

Accumulated depreciation = $350,000

The book value after three years = $50,000 ($400,000 - $350,000)

Learn more about depreciation methods at brainly.com/question/25806993

Answer: $130,000

$205,600

$50,000

Explanation:

Depreciation expense using the straight line depreciation method = (Original cost of asset - Salvage value) / useful life

Depreciation expense = ( $400,000 - $40,000) / 4 = $90,000

Net book value for year 1 =$400,000 - $90,000 = $310,000

Net book value for year two = $310,000 - $90,000 = $220,000

Net book value for year 3 = $220,000 - $90,000 = $130,000

Deprecation expense using the unit of production method = [ (Original cost of asset - Salvage value) / total estimated productive capacity] × actual productive use of asset

($400,000 - $40,000) / 20,000 = $18

Depreciation expense for year 1 = $18 × 3000 =$54,000

Net book value for year 1 = $400,000 - $54,000 = $346,000

Depreciation expense for year 2 = $18 × 1800 = $32,400

Net book value for year two = $346,000 - $32,400 = $313,600

Depreciation expense for year 3 = $18 × 6000 = $108,000

Net book value for year three = $313,600 - $108,000 = $205,600

In the double declining method = 2 × (1/number of years ) =2 × (1÷4) = 0.5

Deprecation expense using the double declining method = 0.5 × net book value

Depreciation expense for year 1 = 0.5 × $400,000=$200,000

Net book value for year 1 = $400,000 -$200,000=$200,000

Depreciation expense for year two = $200,000 × 0.5 = $100,000

Net book value for year two = $200,000 - $100,000 = $100,000

Depreciation expense for year 3 = $100,000 × 0.5 =$50,000

Net book value for year three = $100,000 - $50,000 = $50,000

The owner of a greenhouse and nursery is considering whether to spend $6,000 to acquire the licensing rights to grow a new variety of rosebush, which she could then sell for $6 each. Per-unit variable cost would be $3. How many rosebushes would she have to produce and sell in order to break even

Answers

Answer:

Break-even point in units= 2,000

Explanation:

Giving the following information:

Fixed costs= $6,000

Selling price= $6 each

Unitary variable cost= $3

To calculate the break-even point in units, we need to use the following formula:

Break-even point in units= fixed costs/ contribution margin per unit

Break-even point in units= 6,000 / 3

Break-even point in units= 2,000

Mullee Corporation produces a single product and has the following cost structure: Number of units produced each year 7,000 Variable costs per unit: Direct materials $ 51 Direct labor $ 12 Variable manufacturing overhead $ 2 Variable selling and administrative expense $ 5 Fixed costs per year: Fixed manufacturing overhead $441,000 Fixed selling and administrative expense $112,000 The absorption costing unit product cost is:________a. $65 per unit
b. $128 per unit
c. $63 per unit
d. $149 per unit

Answers

Answer:

unitary absorption production cost= $128

Explanation:

The absorption costing method includes all costs related to production, both fixed and variable. The unit product cost is calculated using direct material, direct labor, and total unitary manufacturing overhead.

First, we need to calculate the unitary fixed manufacturing overhead:

Unitary fixed overhead= 441,000 / 7,000= $63

Now, the unitary absorption production cost:

unitary absorption production cost= 51 + 12 + 2 + 63

unitary absorption production cost= $128

Other Questions
Donnie Hilfiger has two classes of stock authorized: $1 par preferred and $0.01 par value common. As of the beginning of 2018, 300 shares of preferred stock and 3,100 shares of common stock have been issued. The following transactions affect stockholders' equity during 2018: March 1 Issue 1,100 shares of common stock for $33 per share. May 15 Purchase 400 shares of treasury stock for $26 per share. July 10 Reissue 200 shares of treasury stock purchased on May 15 for $31 per share. October 15 Issue 200 shares of preferred stock for $36 per share. December 1 Declare a cash dividend on both common and preferred stock of $0.80 per share to all stockholders of record on December 15. (Hint: Dividends are not paid on treasury stock.) December 31 Pay the cash dividends declared on December 1. Donnie Hilfiger has the following beginning balances in its stockholders' equity accounts on January 1, 2018: Preferred Stock, $300; Common Stock, $31; Additional Paid-in Capital, $67,000; and Retained Earnings, $26,000. Net income for the year ended December 31, 2018, is $9,900. Taking into consideration the beginning balances on January 1, 2018 and all the transactions during 2018, respond to the following for Donnie Hilfiger: Required: 1. Prepare the stockholders' equity section of the balance sheet as of December 31, 2018. (Amounts to be deducted should be indicated by a minus sign.) 2. Prepare the statement of stockholders' equity for the year ended December 31, 2018. (Amounts to be deducted should be indicated by a minus sign.)