answer.
Ask question
Login Signup
Ask question
All categories
  • English
  • Mathematics
  • Social Studies
  • Business
  • History
  • Health
  • Geography
  • Biology
  • Physics
  • Chemistry
  • Computers and Technology
  • Arts
  • World Languages
  • Spanish
  • French
  • German
  • Advanced Placement (AP)
  • SAT
  • Medicine
  • Law
  • Engineering
tensa zangetsu
14 days ago
6

J. Gladwin has a capital balance of $106,000 and R. Selleck has a capital balance of $94,000 in their partnership as of Septembe

r 30. On October 1, Gladwin sells one-half of her partnership interest to R. Dennis for $60,000 cash. Selleck agrees to accept Dennis as a new partner. Prepare the October 1 journal entry for the partnership.
Business
1 answer:
Free_Kalibri [3.1K]14 days ago
5 0

Answer:

J. Gladwin has a capital account balance of $106,000

R. Selleck has a capital account balance of $94,000

The journal entry is recorded as:

On October 1,

J. Gladwin Capital A/c Dr. $53,000

To R. Selleck, Capital $53,000

(To document the entry of R.)

Working Notes:

J. Gladwin Capital:

= J. Gladwin's capital balance divided by 2.

= $106,000 ÷ 2

= $53,000

Thus, J. Gladwin's capital amounts to $53,000.

You might be interested in
Jake owns a company called Boat Builders, LLC and one evening he took several of his employees out after work to a bar. After ea
harina [3203]
Yes, since Boat Builders, LLC did not maintain an adequate standard of care on their property.
4 0
13 days ago
Washington Inc. issued $705,000 of 6%, 20-year bonds at 98 on January 1, 2009. Through January 1, 2017, Washington amortized $8,
stepan [3001]
The gain amounts to $14,100.
7 0
18 days ago
Blake eats two bags of potato chips each day. Blake's hourly wage increases from $9 to $15, and he decides to stop eating generi
Mariulka [3175]

Answer:

-4 units

Explanation:

Applying the midpoint method, Blake's income elasticity of demand for generic potato chips is determined by multiplying the change in demand (D) by his average income (I), then dividing by the product of the change in income and average demand:

E=\frac{\Delta D}{\Delta I}*\frac{I_{avg}}{D_avg}\\E=\frac{0-2}{15-9}*\frac{\frac{9+15}{2}}{\frac{2+0}{2} }\\E=-4\ units

Thus, Blake's income elasticity of demand equals -4 units.

8 0
1 month ago
p. 82) Which of the following is NOT a limitation of SWOT (Strengths, Weaknesses, Opportunity, Threats) analysis? A. Organizatio
Nady [2956]

Answer:

The proper choice is option "B": SWOT's extensive and integrative focus on the external environment.

Explanation:

The SWOT analysis examines both internal and external factors that affect a company's functioning, offering opportunities to leverage strengths or manage risks. Here, internal factors refer to Strengths and Weaknesses, while external factors encompass the Opportunities and Threats faced by the business.

The broad and integrative approach of SWOT towards the external environment is a strength and not a weakness of this framework.

3 0
1 month ago
Which of the following is an example of external-operational communication?
Mariulka [3175]

Response:

c. Advertisements published by companies on their websites for the general public

Explanation:

External-operational communication is characterized as dialogue, interaction, or correspondence related to work that a business entity conducts with individuals or groups, such as customers, government bodies, suppliers, etc., external to the organization.

An example of external-operational communication is the advertisements that companies display on their websites targeting the general public.

4 0
13 days ago
Other questions:
  • Jim's Widgets creates mechanical tools that are used in factories. Use the table and the drop-down menus to answer these questio
    11·1 answer
  • Which are examples of a person changing careers? Check all that apply. a home insurance salesman decides to start selling home w
    15·2 answers
  • : A Notary Signing Agent decides to expand his business by offering new services. With respect to advertising, the NSA should av
    6·1 answer
  • g Haack Inc. is a merchandising company. Last month the company's cost of goods sold was $84,000. The company's beginning mercha
    5·2 answers
  • Tuscan Inc. had a retained earnings balance of $60,000 at December 31, 2018. During the year, Tuscan had the following selected
    13·1 answer
  • Many financial decisions require the analysis of uneven,or nonconstant: cash flows stock dividends typically increase over time
    7·1 answer
  • Carol is planning her personal finances. She has divided her plan into various short-term and long-term goals. Which action shou
    6·1 answer
  • A year ago, MC Hammer Company had inventory in Britain valued at 240,000 pounds. The exchange rate for dollars to pounds was 1£
    10·1 answer
  • On December 1, 2021, Liang Chemical provides services to a customer for $90,000. In payment for the services, the customer signs
    6·1 answer
  • Akram owns a small farm. He employs 80 workers in the field and has recently hired a manager to help him manage the farm. The in
    7·1 answer
Add answer
Login
Not registered? Fast signup
Signup
Login Signup
Ask question!