lololmlm7635 lololmlm7635

Today at 2:38 PM
Business

Answered

The partnership agreement for Wilson, Pickett & Nelson, a general partnership, provided that profits be shared between the partners in the ratio of their financial contributions to the partnership. Wilson contributed $100,000, Pickett contributed $50,000 and Nelson contributed $50,000. In the partnership's first year of operation, it incurred a loss of $110,000. What amount of the partnership's loss, rounded to the nearest dollar, should be absorbed by Nelson?

Answer :

andromache andromache

Today at 2:43 PM

Answer:

$27,500

Explanation:

The computation of the partnership loss borne by the Nelson is shown below:

= (Contributed amount by Nelson) ÷ (Firm contribution amount) × (loss incurred)

= ($50,000) ÷ ($200,000) × ($110,000)

= 0.25 × $110,000

= $27,500

The firm contribution amount would be calculated below:

= Wilson contributed amount + Pickett contributed amount + Nelson contributed amount

= $100,000 + $50,000 + $50,000

= $200,000

Answer Link

Other Questions

Carissa also has a sink that is shaped like a half-sphere. The sink has a volume of (2000/3) π in³. One day, her sink clogged. She has to use one of two conical

Prior, Inc. has decided to raise additional capital by issuing $175,000 face value of bonds with a coupon rate of 10%. In discussions with investment bankers, i

Carissa also has a sink that is shaped like a half-sphere. The sink has a volume of (2000/3) π in³. One day, her sink clogged. She has to use one of two conical

For your senior project, you would like to build a cyclotron that will accelerate protons to 10% of the speed of light. The largest vacuum chamber you can find

Two identical diploid cells undergo meiosis (let’s call them cell A and cell B). Do we expect the cells produced by meiosis of cell A and cell B to be genetical

Verify1011 13 13(-7)(-7

शहरी गरीबी और ग्रामीण गरीबी के बीच अंतर बताएं Economic Chapter - 3class 9th ...

what is subject vetb agreement

find the four greatest digit number that is divisible by 5

estimate product of 898× 785

Prior to learning painfully that the sound of a buzzing bee signaled an impending bee sting, Sara experienced no fear in response to the buzzing sound. At that

Show that for a square symmetric matrix M, any two eigen-vectors v1, v2 with distinct eigen-values λ1, λ2, are orthogonal, i.e. inner product of v1 and v2 is ze

People with damage to the hippocampus seem to be unable to remember recent events even though their memory of events before the damage remains intact. This seem

If fixed costs are $1,291,000, the unit selling price is $238, and the unit variable costs are $105, what is the amount of sales in units (rounded to a whole nu

1. Juan Carlos y Felipe quieren crear su propia empresa. a) cierto b) falso 2. En el futuro, Marissa va a viajar porque va a ser psicóloga. a) cierto b) falso 3

Instructions:Select all the correct answers. Which two statements correctly describe the effect of repetition in the last stanza of Robert Frost's "Stopping by

According to Freud, to reduce anxiety, avoid punishment, and maintain parental affection, children identify with parents, internalizing their standards of right

The person with feels intense fear triggered by real or anticipated exposure to situations such as using public transportation, being in an enclosed space such

What is the rule for the function shown in the table? Input x -2 -1 0 1 2 Output y -8 -5 -2 1 4

By 1918, those who opposed the woman suffrage movement: a) argued that it would defeminize women. b) argued that it would interfere with the war effort. c) were