John and Jay agree to be partners where their profits are shared in a ratio of 3:5,

Fantastic news! We've Found the answer you've been seeking!

Question:

John and Jay agree to be partners where their profits are shared in a ratio of 3:5, respectively. If Jay receives F^(45),500, how much profit should John receive?

Related Book For answer-question

Accounting Volume 2

ISBN: 978-0176509743

2nd Canadian edition

Authors: James Reeve, Jonathan Duchac, Sheila Elworthy, Carl S. Warren

See More Books

Posted Date: Dec 05, 2022 06:01 AM

See More Questions

How many electrons are shared in a double covalent bond?
How many electrons are shared in a double bond between two carbon atoms?
If John purchased $100,000 of insurance, how much would he collect for a $40,000 loss? How much would he collect for a total loss?
When something burns, a. it combines with phlogiston b. it gives off phlogiston c. it combines with oxygen d. it gives off oxygen
You and a friend are reading The Wall Street Journal and notice that the Treasury yield curve is slightly upward sloping. Your friend comments that all looks well for the economy but you are...
On December 31, 2012, Cathy Chen, a self-employed certified public accountant (CPA), completed her first full year in business. During the year, she billed $360,000 for her accounting services. She...
ZeeZee's Construction Company has the opportunity to select one of four projects (A, B, C, or D) or choose the null (do-nothing) alternative. Each project requires a single initial investment and has...
Consecutive five-year balance sheets and income statements of Laura Gibson Corporation are shown below. Operating lease payments were as follows: 2009, $30,000; 2008, $27,000; 2007, $28,500; 2006,...
B. The figure below shows the market of physician visit. Current market price for each physician visit is $5. Price ($) 9 8 7 6 5 0 1 2 3 4 Number of Physician Visits (Q) 1) According to the figure,...
The comparative balance sheet o f JSA Ltd. at June 30, 2018, is as follows: JSA Ltd.'s 2018 income statement is as follows: Required a. Calculate the various accruals on an item-by-item basis. For...
Consider a chain of particles that can interact via nonlinear nearest neighbors -model * = (x. 2x +x__ ) + [ (x.. = x, ) ( , , , ) ] X =X n n n-1 n+1 B-model X = (X+1 2x + X_, ) [(x. x, ) (...
The type of procurement document that might be used to request prices for standard products or services is called a(n) _________________. a. request for proposal (RFP) b. request for information...
Good project management practice suggests a need to include a _______________ within the cost baseline in order to cover identified risks that are accepted, and for which responses have been...
Generic strategies dimensions include type of competitive advantage and target market. In your opinion, how would a focused strategy differ from a broad strategy?
In making a decision about whether or not to outsource part of a project, one must evaluate the effect it would have on _________________. a. time b. cost c. performance control d. all of the above
Your company is hoping to outsource some of its work constructing a new development of condominiums. What would you use as selection criteria to narrow down your list of potential sellers?
SAB Inc. will not pay dividends for 3 years. At year 4, they will pay a dividend of $1.90, which is expected to grow by 19%, from years 5-9, inclusive. Starting in year 10, the dividend will grow at...
How can you tell from the vertex form y = a(x - h) 2 + k whether a quadratic function has no real zeros?
On June 1, a company issued at face value a $2,400,000, 4%, five-year bond that pays semiannual interest on April 30 and October 31. Journalize (a) The sale of the bond (b) The interest payment on...
Brazier, Moore, and Jonah are partners of Bright Sales LLP, sharing income and losses in a ratio of 2:2:1, respectively. The partners decide to liquidate the partnership. The capital account balances...
Toys in a Box is a retail toy company. Financial data from the December 31, 2015, and December 31, 2014, financial statements are shown as follows (in thousands): The income from operations and...
The figure below illustrates a thin plate of thickness $t$. An approximate displacement field, which accounts for displacements due to the weight of the plate, is given by a. Determine the...
For a plane stress problem, the strain components in the xyplane at a point $P$ are computed as: a. Compute the state of stress at this point if Young's modulus $E=2 \times 10^{11} \mathrm{~Pa}$...
The stress matrix at a particular point in a body is Determine the corresponding strain if $E=20 \times 10^{10} \mathrm{~Pa}$ and $v=0.3$. -2 1-3 [0] = 104 -345 107 Pa.

John and Jay agree to be partners where their profits are shared in a ratio of 3:5,

Question:

Expert Answer:

Given John and Jay agree where their profits ratio of 3 ... View the full answer

Accounting Volume 2

Students also viewed these accounting questions