Answer:
The Partnership of Anna, Brian, and Cole
A) Statement of Partnership Liquidation:
Available cash for distribution = $157,500
Payment of liabilities = 27,500
Cash available for distribution $130,000
Distribution to partners:
Anna 67,500
Brian 30,000
Cole 32,500
Total distributed $130,000
B) Statement of Partnership Liquidation:
Available cash for distribution = $52,500
Payment of liabilities = 27,500
Cash available for distribution $25,000
Capital accounts balances = 85,000
Deficiency = $60,000
Distribution of deficiency to partners:
Anna 3/6 30,000
Brian 20,000
Cole 10,000
Total distributed $60,000
Explanation:
a) Data and Calculations:
Cash 7,500
Noncash assets 105,000
Total assets 112,500
Liabilities 27,500
Anna capital 45,000
Brian capital 15,000
Cole capital 25,000
112,500
Profit sharing ratio = 3:2:1
Sales proceeds from noncash assets = $150,000
Total cash available = $157,500 ($150,000 + 7,500)
Total capital repaid $85,000
Balance to be redistributed: $45,000
Partners Excess Capital Total
Anna 3/6 22,500 45,000 $67,500
Brian 2/6 15,000 15,000 30,000
Cole 1/6 7,500 25,000 32,500
Item9 Time Remaining 34 minutes 55 seconds00:34:55 Item 9 Time Remaining 34 minutes 55 seconds00:34:55 Babuca Corporation has provided the following production and total cost data for two levels of monthly production volume. The company produces a single product. Production volume 13,900 units 15,000 units Direct materials $ 813,150 $ 877,500 Direct labor $ 215,450 $ 232,500 Manufacturing overhead $ 1,011,500 $ 1,024,150 The best estimate of the total variable manufacturing cost per unit is: (Round your intermediate calculations to 2 decimal places.) Multiple Choice
Answer:
$85.50
Explanation:
Particulars Amount Amount Difference
Direct materials $813,150 $877,500 $74,350
Direct labor $215,450 $232,500 $17,050
Manufacturing OH $1,011,500 $1,024,150 $12,650
T.V. Overheads 2040100 2134150 $94,050
Production Volume 13,900 15,000 1,100
Variable Cost per unit $85.50
Nick and Beth run a catering business in which they have two major tasks: getting new clients and preparing food for events and parties. It takes Nick 8 hours to prepare food for an event and 4 hours of effort to get each new client. For Beth, it takes 12 hours to prepare food for an event and 3 hours to get a new client.
1. Who has an absolute advantage in food preparation?
2. Who has a comparative advantage in food preparation?
Suppose that initially, Nick and Beth are both splitting both tasks for a large number of events. Then they decide to start shifting some work according to the principle of comparative advantage. In particular, the person with the comparative advantage in food preparation will take over preparing food for one more event, and the other person will use the freed-up time to get more clients. As a result, the total number of events for which food is prepared will remain unchanged, but the number of new clients will increase by __?__.
The second part threw me off and I got confused. I put up the entire problem just to see if i answered it correctly or not to see whether that was what threw me off or not. Thanks in advance! :)
Answer:
NICK
NICK
2
Explanation:
A company has absolute advantage in the production of a good or service if it produces more quantity of a good when compared to other countries
Nick prepares food in 8 hours while Beth produces the food in 12 hours. ick thus has an absolute advantage in food preparation because he produces food in less time
A country has comparative advantage in production if it produces at a lower opportunity cost when compared to other countries.
Opportunity cost of Nick in food preparation = 4/8 = 0.5 hours
Opportunity cost of Beth in food preparation = 3 / 12 = 0.25 hours
Nick has a comparative advantage in food preparation