Thandie and Marco are partners with capital balances of $60,000. They share profits and losses at 50%
Question:
Thandie and Marco are partners with capital balances of $60,000. They share profits and losses at 50% each. Chris contributes $30,000 to the partnership for a 1/3 share. What amount should the partnership record as a bonus to Chris?
A. $20,000
B. $15,000
C. $10.500
D. $5,000
Fantastic news! We've Found the answer you've been seeking!
Step by Step Answer:
Answer rating: 40% (10 reviews)
Amount partnership to r...View the full answer
Answered By
James Warinda
Hi! I’m James Otieno and I'm an experienced professional online tutor with countless hours of success in tutoring many subjects in different disciplines. Specifically, I have handled general management and general business as a tutor in Chegg, Help in Homework and Trans tutor accounts.
I believe that my experience has made me the perfect tutor for students of all ages, so I'm confident I can help you too with finding the solution to your problems. In addition, my approach is compatible with most educational methods and philosophies which means it will be easy for you to find a way in which we can work on things together. In addition, my long experience in the educational field has allowed me to develop a unique approach that is both productive and enjoyable.
I have tutored in course hero for quite some time and was among the top tutors awarded having high helpful rates and reviews. In addition, I have also been lucky enough to be nominated a finalist for the 2nd annual course hero award and the best tutor of the month in may 2022.
I will make sure that any student of yours will have an amazing time at learning with me, because I really care about helping people achieve their goals so if you don't have any worries or concerns whatsoever you should place your trust on me and let me help you get every single thing that you're looking for and more.
In my experience, I have observed that students tend to reach their potential in academics very easily when they are tutored by someone who is extremely dedicated to their academic career not just as a businessman but as a human being in general.
I have successfully tutored many students from different grades and from all sorts of backgrounds, so I'm confident I can help anyone find the solution to their problems and achieve
0.00
0 Reviews
10+ Question Solved
Related Book For
Principles Of Accounting Volume 1 Financial Accounting
ISBN: 9781593995942
1st Edition
Authors: Mitchell Franklin, Patty Graybeal, Dixon Cooper, OpenStax
Question Posted:
Students also viewed these Business questions
-
Thandie and Marco are partners with capital balances of $60,000. They share profits and losses at 50%. Chris contributes $30,000 to the partnership for a 1/3 share. What amount should Thandies...
-
Thandie and Marco are partners with capital balances of $60,000. They share profits and losses at 50%. Chris contributes $60,000 to the partnership for a 1/3 share. What amount should the partnership...
-
Thandie and Marco are partners with capital balances of $60,000. They share profits and losses at 50%. Chris contributes $90,000 to the partnership for a 1/3 share. What amount should the partnership...
-
What are the explanations given for slow progress towards full acceptance of ISAs?
-
Describe the role of deductibles in insurance contracts.
-
A uniform electric field ai + bj intersects a surface of area A. What is the flux through this area if the surface lies? (a) In the yz plane? (b) In the xz plane? (c) In the xy plane?
-
A trial weight should generate a force equal to 10% of the rotor weight in order to establish the location and amount of imbalance. The rotor weighs 100 lb and has an operating speed of 3,600 rpm....
-
The separate incomes (which do not include investment income) of Pic Corporation and Sil Corporation, its 80 percentowned subsidiary, for 2011 were determined as follows (in thousands): During 2011,...
-
Two Firefighter/Paramedics who work on opposite shifts have an ongoing personality conflict. One of the paramedics Bill Jones (a 40 year old Army veteran) has come to the supervisor on several...
-
A piece of string is connected between two adjacent houses to form a clothesline. The houses are separated by d = 22 m, and both ends of the string are the same height off the ground. A sweater is...
-
What is the first step in a partnership liquidation (termination and sale of assets)?
-
When a partner withdraws from the firm, which accounts are affected?
-
Explain how marketing adds value by creating several forms of utility.
-
Art has played a significant role in every major civilization throughout history. When you think of art made hundreds or even thousands of years ago, what characteristics come to mind? What role do...
-
what ways do social institutions intersect with processes of social change and resistance, including the emergence of social movements and collective action aimed at challenging existing...
-
Compare the way public expectations control cast behavior, especially with respect to the most elite roles like Judy of the Jet with the role supervision and surveillance plays in controlling cast...
-
For years, guests have been confused with the difference between guaranteed and non-guaranteed reservations. Discuss how you will explain this to a guest to avoid any confusion as a reservation agent...
-
Pandora uses data from music genome project to assign hundreds of attributes for each song. Then it recommends songs which are similar to users' favorite songs. Which method is used here?
-
Which of the curves in Figure 26 is the graph of a function? FIGURE 26
-
Troy is a qualified radiologist who operates a successful radiology practice from purpose- built rooms attached to his house. Troy works in the practice three days a week, and the other two days he...
-
Cesar Rego Computers, a British Columbia chain of computer hardware and software retail outlets, supplies both educational and commercial customers with memory and storage devices. It currently faces...
-
Tobacco is shipped from Tillsonburg, Ontario, to a cigarette manufacturer in Cambodia once a year. The reorder point, without safety stock, is 200 kilograms. The carrying cost is $15 per kilogram per...
-
Ottawas Fairmont Chteau Laurier hotel distributes a mean of 1000 bath towels per day to guests at the pool and in their rooms. This demand is normally distributed with a standard deviation of 100...
-
Many American car manufacturers are located in the Southeast. Due to hurricane season, the Southeast has gotten a significant amount of rain, causing vast flooding. How is the supply of cars impacted?
-
Suppose that the cost in dollars for a weekly production of x tons of sugar is given by the following function (a) Find the marginal cost. 1 C(x) = x+3x+200. (b) Find the cost and marginal cost when...
-
16. An IEEE standard 32-bit floating point number is N = -15 x 2E-127 x 1.F, where S is the sign bit, F is the fractional mantissa, and E the biased exponent. a. Convert the decimal number 123.5 into...
Study smarter with the SolutionInn App