a. scott withdraws from her partnership with three other partners and takes cash equal to her capital balance, in the amount of $13,000. the journal entry to reflect this transaction would include a credit to the account?
Answers
The journal entry to reflect Scott's withdrawal from her partnership with three other partners and takes cash equal to her capital balance, in the amount of $13,000 would include a credit to the capital account.
What is the capital account?The capital account is a component of the balance of payments that measures financial transactions between a country's residents and the rest of the world. It encompasses all worldwide private and public investments and transactions, including equity, debt, and short-term securities. It's also known as the financial account and is one of two main components in the balance of payments, the other being the current account.
In accounting, the capital account represents the owner's equity in a business after all liabilities have been satisfied. When an owner invests money in their company or earns a profit, it is put into the capital account. When the owner withdraws money, it is deducted from the capital account. This is relevant to the given question as the credit is being made in relation to the withdrawal of cash equal to Scott's capital balance.
The journal entry to reflect Scott's withdrawal from her partnership with three other partners and takes cash equal to her capital balance, in the amount of $13,000 would be:
Debit Cash - $13,000
Credit Capital Account - $13,000
Since Scott is withdrawing from the partnership and taking cash equal to her capital balance, there would be a decrease in the capital account, hence credit is made to the capital account.
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Related Questions
Which kind of protection does homeowners insurance offer? Check all that apply.
A. It protects a car against theft in the parking lot.
B. It covers damages to a home.
C. It protects a home against theft.
D. It protects against accidents or injuries.
E. It covers property lost outside of the home.
Answers
Answer:
2,3,4,5
Explanation:
Homeowner's insurance keeps the owner safe from house damages, theft, accidents or injuries or mishap, etc
What do you understand by homeowners insurance offer?
Property holder's insurance contracts frequently cover the inside and beyond a home, as well as the misfortune or robbery of individual possessions and individual risk for harm to other people.
The home insurance cover:
The actual cost of the house, replacement cost, and extended replacement cost/value. The feature of home insurance are:
It covers house damages It protects against theftagainst accidents or injuries or mishapproperty lost inside and beyond/outside the houseTherefore options B, C, D, and E aptly describe the homeowner's insurance.
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What effect do communication skills have on ability to pursue
Answers
Answer:
you. dummy joking I. don't know
If John made $23,562.55 in wages, and $2,679.32 cents in tips, what amount should he enter for his income when filling out his 1040 ta
return form?
$24,902.21
$23,562.55
$2,679.32
$26,241.87
Answers
Answer:
Explanation:
$26,241.67
true or false? group insurance is a type of private insurance that anticipates a large group of individuals will purchase insurance through their employer and the risk is spread among those paying individuals.\
Answers
This is untrue; group insurance is a form of private insurance that assumes a sizable number of people will purchase insurance through their employer, distributing the risk among those paying individuals.
The majority of people have some sort of insurance, whether it is for their life, their home, or their car. However, the majority of us don't really take insurance the time to consider what insurance is or how it risk operates.
Simply put, insurance is a contract, represented by a policy, under which a policyholder receives monetary protection or payment from an insurance firm against losses. To make payments more manageable for risk the insured, the company pools the risks of its clients.
Insurance policies are used as a hedge against the risk of monetary losses, both large and minor, that may arise from harm to the insured or their insurance property, or from liability for damage or injury given to a third party.
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A basic interest rate that is not adjusted for inflation is called a(n)___ interest rate.
Answers
A basic interest rate that is not adjusted for inflation is called a nominal interest rate.
What is Inflation?It should be noted that inflation simply means the increase in the prices of goods and services.
In this case, nominal interest rate is the basic interest rate that is not adjusted for inflation.
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Answer:
Nominal is the answer
Explanation:
All of the following are nonforfeiture options EXCEPT
extended term insurance.
reduced paid-up insurance.
cash value.
paid-up additions.
Answers
All of the following are nonforfeiture options except reduced paid-up insurance.
What are the advantages of not forfeiting?The nonforfeiture benefit was created to make sure that if you let your policy lapse (i.e., stop paying premiums) after a predetermined period of time, you still receive some benefits from the policy.
What choices are available that do not result in forfeiture?A non-forfeiture option (or clause) is a condition that is part of some life insurance policies that states the policyholder will not lose the value of the policy if the policy lapses after a predetermined time due to missed premium payments.
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Why is fashion designer Kira's Plasinina father important
a. He is a businessman who helped her achieve her goals .
b. He liked her drawings .
c. He funded her ventures.
d. He was her inspiration
Answers
We suppose an economy defined by:
Y=10000 ; G = 2000 ; T = 1000 ;
r (real interest rate) = 3%;
C = 400 + 0.6 (Y-T) ;
Lo (factors that affect demand of moeny) = 5 ;
Ms (money supply) = 15000 ;
Mg (growth rate of money) = 10% ;
Yg (growth rate of Y) = 7%
question : If M increase by 3%, the P increase by ? ( the options I have are : 1.22%/1.23%/1.24%/1.25%)
Answers
Answer:
Explanation:
To find the percentage increase in P if M increases by 3%, we need to use the equation for the quantity theory of money, which is:
M * V = P * Y
Where M is the money supply, V is the velocity of money, P is the price level, and Y is the output of the economy.
If M increases by 3%, then the new value of M can be found by multiplying the old value of M by 1 + the percentage increase:
M' = M * (1 + 0.03) = 15000 * 1.03 = 15450
We can then solve for the new value of P by substituting the new values of M and Y into the equation:
P' = (M' * V) / Y = (15450 * V) / 10000 = 1.5450 * V
We can then find the percentage increase in P by taking the difference between the new value of P and the old value of P, and dividing by the old value of P:
Percentage increase in P = (P' - P) / P = (1.5450 * V - 1) / 1 = 0.5450 * V
So the percentage increase in P is 0.5450 * V.
Under which of the following circumstances would the govermment be running a deficit? a. G= $7 trillion T = $7 trillion TR = $3 trillion.
b. G= $7 trillion T = $7 trillion TR = $0
c. G= $5 trillion T = $5 trillion TR = $1 trillion.
d. G= $5 trillion T = $7 trillion TR = $1 trillion.
Answers
The government would be running a deficit under the following circumstance: d. G = $5 trillion, T = $7 trillion, TR = $1 trillion.
In this scenario, government spending (G) is $5 trillion, total tax revenue (T) is $7 trillion, and transfer payments (TR) are $1 trillion. When total tax revenue (T) exceeds government spending (G) and transfer payments (TR), the government runs a surplus. However, in this case, total tax revenue (T) is less than government spending (G) and transfer payments (TR), resulting in a deficit. A deficit occurs when the government spends more than it collects in revenue, leading to a negative budget balance.
A trillion is a numerical term representing a value of one followed by twelve zeros, equal to 1,000,000,000,000. It is a very large number in the decimal system and is often used to quantify large quantities or amounts in various contexts. The term "trillion" is commonly used in finance, economics, and government budgets to describe significant figures. It represents a magnitude of one million million or one thousand billion. Trillions are often used when discussing the size of national debts, GDP (Gross Domestic Product), market capitalization of companies, or the overall size of global economies.
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Type the correct answer in the box. Spell all words correctly.
Which form of marketing do firms use when they market their products to all consumers alike, even when not all of them constitute the target audience?
When firms market their products to all consumers alike, even when not all of them constitute the target audience, they exhibit (___?___) marketing.
Answers
Answer:
Outbound Marketing is the correct answer
Explanation:
Answer:
outbound marketing - I just took the test this is correct
Explanation:
Which of these tasks can be accomplished when the drop-down menu of the Bullets icon is clicked? Check all that
apply.
Indent the ideas in the bulleted list.
Change the number level of the list.
Choose the bullet to be used in the list.
Define the new bullet to be used in the list.
Pick the number format to be used in the list.
Answers
The task that should be achieved at the time when the drop-down menu of the bullet icon should be clicked is
Select the bullet i.e. applied in the list.Define the new bullet applied.For drop-down the menu when the bullets icon should be clicked, the task should be
Select the bullet.And, defined the new bullet.The other options should be ignored.
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Answer:
C. Choose the bullet to be used in the list.
D. Define the new Bullet used in the list.
Explanation:
Got them right on edge
Helpmeeeeeeeeeeeeeee
Answers
Answer:
18. b : most economic decisions are made by buyer and sellers
19. b : federal income tax
Explanation:
How is compound interest different from simple interest?
a
Compound interest is when interest is paid on the principal amount only. Simple interest is when interest is paid on the principal amount and on the interest already earned.
b
The money earned from simple interest can only be accessed after 1 year, while you can access the money earned from compound interest at any time.
c
The money earned from compound interest is placed into a separate account, while the money earned from simple interest stays within the same account.
d
Simple interest is when interest is paid on the principal amount only. Compound interest is when interest is paid on the principal amount and on the interest already earned.
Answers
Answer:
Simple interest is when interest is paid on the principal amount only. Compound interest is when interest is paid on the principal amount and on the interest already earned.
Explanation:
Compounding interest refers to adding the interest earned to the principal amount at the end of a financial period. The interest gained becomes part of the principal amount for the following financial period. It means the principal amount increases every year, which results in increased interest earnings.
Simple interest is the interest earned from the principal amount only. If no more deposits are made, then the principal amount will remain the same, and the interest earned will be constant.
scenario: you've been tasked with debriefing your marketing team on the results of the latest advertising campaign. your primary goals were to generate new leads and customers for the business. what reporting tools would best help you find the information you're looking for? select all that apply.
Answers
Tools such as conversion tracking, Website optimizer, CRM software, A&B testing tools, and social media analytics would be useful for tracking the results of an advertising campaign aimed at generating new leads and customers for a business.
The reporting tools that would best help find the information on generating new leads and customers for the business are:
1. Conversion tracking- This tool would help track the number of leads generated from the advertising campaign and how many of those leads converted into actual customers.
2. Website optimizer- This tool would provide insights into the sources of traffic to the website, the behavior of visitors on the website, and the conversion rates of those visitors into leads and customers.
3. CRM (Customer Relationship Management) software- This tool would help track the leads generated from the advertising campaign and their progress through the sales funnel, from lead to customer.
4. A&B testing tools-These tools would help test different versions of the advertising campaign to determine which version generates the most leads and customers.
5. Social media analytics- These tools would help track the performance of the advertising campaign on social media platforms, such as the number of impressions, clicks, likes, and shares.
By using these reporting tools, it would be possible to gather valuable insights on the performance of the advertising campaign and identify opportunities for improvement in generating new leads and customers for the business.
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For a perfectly competitive market to function properly, which of the following must buyers and sellers have access to?
Sufficient technology
Uncompetitive products
Economies of scale
Adequate information
Answers
Answer:
Adequate information
Explanation:
Both the buyers and sellers must have access to adequate information. Information are both vital for both the buyers and sellers. For the buyer, it influences their decision making and buying choice. For the seller, it helps them to know the trending buyer need. Hence, for a perfectly competitive market to function well, the buyer and seller must have access to adequate information.
Which method's result always takes precedence over other methods? ANPV B. IRR C. Payback Period D. None of them should have precedence over any of the others
Answers
the payback period has precedence over other methods
When evaluating investment opportunities, different methods can be used to measure the financial viability of a project. The methods can include ANPV (adjusted net present value), IRR (internal rate of return), payback period, and others. Each method provides valuable information and insights into the investment's potential returns and risks.
However, when it comes to determining which method's result takes precedence over others, the answer is the payback period. The payback period measures the time required for an investment to generate cash inflows equal to the initial investment. It is a simple method that can provide a quick estimate of how long it will take to recover the initial investment.
In contrast, ANPV and IRR take into account the time value of money and consider cash flows over the entire life of the investment. While these methods are more comprehensive, they may not always be appropriate, depending on the specific investment and the investor's goals.
Overall, because it provides a clear and straightforward answer to the question of how long it will take to recover the initial investment. However, it is important to note that different methods can be used together to provide a more comprehensive analysis of investment opportunities.
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Fashion Designers should know all of the following:
(Select 3 answers)
Select 3 correct answer(s)
Knowledge of raw materials, production processes, quality control, costs,
and other techniques for maximizing the effective manufacture and
distribution of goods.
Knowledge of children, teens, and adult textile fabrics.
Knowledge of design techniques, tools, and principles involved in production of
precision technical plans, blueprints, drawings, and models.
Knowledge of the structure and content of the English language including the
meaning and spelling of words, rules of composition, and grammar.
Knowledge of techniques and equipment for potting. growing., and harvesting
products (both plant and animal) for fabric and textile techniques.
Answers
To thrive as a fashion designer, you must possess traits like creativity, initiative, good sewing technique, interpersonal skills, business acumen, leadership, and the capacity to adapt to shifting trends.
What are the foundational principles of fashion design?In the world of fashion, the four primary design elements or features used are shape or silhouette, line, color, and texture. The silhouette of the entire garment can be considered. This is the aspect of the garment that stands out the most. It produces the first effect before any additional factors are seen.
It is important for fashion designers to have a thorough understanding of the raw materials, manufacturing processes, quality control, costs, and other techniques for maximizing the effective production and distribution of goods.Knowledge of the concepts, instruments, and design techniques required to create precise technical plans, blueprints, drawings, and models.having knowledge of the techniques and equipment used to cultivate and harvest (both plant and animal) materials for clothing and textilesLearn more about fashion design: https://brainly.com/question/30593045
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A consumer would pay an extra if they used the rent to own program to buy the computer, rather than using cash.
Answers
A consumer would pay an extra if they used the rent to own program to buy the computer, rather than using cash. For all of the items, using is the cheapest option over the life of the contract. The most expensive overall option is to use to purchase the item.
The most expensive overall option is to use a rent-to-own program to purchase the item.
What is the best option to to buy the computer?
Consumers would pay an extra $800.00 if they used the rent-to-own program, rather than cash to buy the computer.
For all of the items
Using cash is the cheapest option over the life of the contract.
However, the most expensive overall option is to use a rent-to-own program to purchase the item.
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Answer:
$800.00
cash
a rent-to-own program
Explanation:
Disadvantages of choosing a job that is extremely popular or in demand
Answers
The disadvantage of choosing a job that is very popular or a job that is in high demand is that after a while such a job may become saturated or it would become monotonous.
What is a high demand job?This is the term that is used to refer to a job that the people that wpould employ labor are constantly in need of. Such a job is one that would require the people that have the qualification to opt in and get the places and the roles that they are to fill.
The issues that may arise from such a job that is in high demand is that after a period, such a job may have a lot of persons that would want to fulfil the role.
The number of qualified persons may become more than the job that is available for the people to do in the long run.
Hence this is a disadvantage. Therefore I would conclude by saying that the disadvantage of choosing a highly popular job is that the number of persons that are willing to fulfil the role may exceed the job overtime.
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Property rights are important to a free enterprise system because they:
A. Allow businesses to freely take ideas from competing companies.
B. Protect businesses' freedom to buy and sell products.
C. Encourage businesses to keep prices as low as possible
D. Place regulations on businesses that make dangerous products.
Answers
Protect businesses' freedom to buy and sell products
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After a bank reconciliation is complete, which of the following types of adjustments should be journalized?
A. adjustments per bank
B. adjustments per books
C. adjustments per books and bank
D. adjustments per cash
Answers
Answer:
c
Explanation:
Answer:
the answer is B; adjustments per books
Explanation:
i just took the quiz
a marketing plan and operating budget are two components of
a.a long range planning
b. a business plan
c. short range planning
d. a staff planning
Answers
“Creditors do not actually have to worry about their dues in case the business fails.” In which
form of business is this possible? Which special feature is highlighted in this statement ?
Answers
Answer:
Sole proprietorship
The sole proprietor(not creditors but creditor) bears all losses
Explanation:
Sole proprietorship is a form of business in which there is no legal difference between the owner and the business entity as both are one and the same. The term 'sole' connotes 'only' while 'proprietorship' connotes 'owner(ship)'; it is also referred to as individual entrepreneurship. This is because only the owner of the business (the proprietor) bears all the risks (losses, debts, legal actions etc) and benefits (profits, dividends etc) of the business venture. He owns all the assets of the business venture, debts as well as the legal actions (whether positive or negative); when business is faring well, he enjoys a handsome profit and when business is struggling, he also bears the brunt of it.
The special feature highlighted in the statement above is the reality that the "creditors" refers simply and only to the proprietor (the owner of the business); in which case, if the business fails, the proprietor does not have to bother about the backlash from creditors' pressures, legal actions etc. He is the sole bearer of the losses of the business venture.
1) Robolane Incorporated manufactures and distributes small robotic toys. Because most of its orders are via telephone or fax, numerous orders have to be reworked. The average cost of the reworked orders is $12.45: $5 for labor, $5.15 for more materials, and $2.30 for overhead. This ratio of costs holds for the average original order. On a recent day, the shop reworked 80 orders out of 800. The original cost of the 80 orders totaled $2,000. The average cost of all orders is $26.245, including rework, with an average selling price of $35. Required: Prepare the necessary journal entry to record the rework for the day if the shop charges such activities to Robo Department Overhead Control. Prepare journal entries to record all relevant rework charges as well as to transfer the reworked items finished goods to Finished Goods Inventory.
Answers
Answer:
Following are the Journal entries to the given question:
Explanation:
Accounts Dr Cr
Robo Department Overhead Control 996
Materials Control \((80 \times 5.15) \ \ \ \ \ \ \ \ \ \ \ \ \ \ \ \ \ \ \ \ \ \ \ \ \ 412\)
Wages Payable \((80\times 5)\ \ \ \ \ \ \ \ \ \ \ \ \ \ \ \ \ \ \ \ \ \ \ \ \ \ \ \ \ \ \ 400\)
Shop overhead control\((80\times 2.30) \ \ \ \ \ \ \ \ \ \ \ \ \ \ \ \ \ 184\)
Finished Goods \(2000\)
Work in process control \(2000\)
the nurse reviews the diagnostic reports of a client and discovers that the client has an injury to cranial nerve vii. what will the nurse observe upon assessment?
Answers
Upon assessment, the nurse will observe facial asymmetry or paralysis on the affected side of the client's face, including drooping of the mouth, inability to close the eye, and difficulty with facial expressions.
Cranial Nerve VII, also known as the Facial Nerve, controls the muscles of facial expression. Injury to this nerve can result in facial weakness or paralysis on the affected side. The nurse will notice facial asymmetry, with drooping of the mouth and inability to fully close the eye on the affected side. The client may have difficulty with facial movements, such as smiling or frowning. Additionally, there may be changes in taste perception on the anterior two-thirds of the tongue since the Facial Nerve also carries taste sensations from this area. A comprehensive assessment will help the nurse determine the extent and impact of the cranial nerve VII injury on the client's overall functioning.
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What are the main objective of forming foreign employment protection / development board?
Answers
Explanation:
The development objective of the project is to contribute to poverty reduction in Nepal, through reducing the vulnerability of Nepalese migrant workers to forced labour and trafficking, and increasing opportunities for safe and productive migration for employment overseas.
how do you feel about testing?
Answers
Well I feel like test give me some much anxiety. I get very nervous and worried even if I had studied for the test. Test also sometimes make me feel shaky lol. But overall I feel like test just stresses students out and it’s not really good
Explanation:
a good choice for a consumer who writes a large number of checks and can keep the required minimum amount of money in the account at all times would be a checking account.
Answers
A checking account is a great choice for consumers who write a lot of checks and can keep the minimum required balance in the account. Checking accounts are convenient and offer access to funds through ATMs, debit cards, and mobile banking.
It also provides a safe place to store your funds and easy access to your money. With a checking account you can also keep track of your spending and set up direct deposits into your account.
Additionally, many banks offer rewards and incentives for customers who have checking accounts. With a checking account, you can also take advantage of services such as overdraft protection and automatic bill payment, giving you peace of mind while ensuring that your bills are paid on time.
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When does the price of an item increase?
Answers
Answer:
WHEN TAXES GET HIGH
Explanation:
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Answer:
THE PRICE INCREASE when it have cent
Explanation:
2.01 plus taxes
What process metric is needed by a plant manager who wants to know how long it takes to manufacture a single unit of a product
Answers
Flow time is the time or process needed by a plant manager who wants to know how long it takes to manufacture a single unit of a product
What is Flow time?Flow time is the amount or quantity of duration or time a flow unit use all through a business process from beginning to end, it is also called the total processing time. If there is more than a path all through the process, the flow time is equal to the length of the longest path.
To calculate the flow time;
Count the number units produced over an extended period of time.
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