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Prior to liquidating their partnership, Fowler and Brooks had capital accounts of $29,000 and $55,000, respectively. Prior to liquidation, the partnership had no cash assets other than what was realized from the sale of assets. These partnership assets were sold for $95,000. The partnership had $4,000 of liabilities. Fowler and Brooks share income and losses equally.
Determine the amount received by Brooks as a final distribution from liquidation of the partnership.
Describe why it is often asserted that that exporters suffer when their home currencies appreciate in real terms against foreign currencies and prosper when their home currencies depreciate in real terms.
An interest rate of 10% compounded continuously is desired on an investment of $15,000. How many years will be required to recover the capital with the desired interest if $2,030 is received each year?
How does a bankers acceptance differ from an ordinary check? Rank the following instruments from most liquid to least >1$bill, share of ibm stock, municipal bond issued in alaska, treasury bill.
Consider an income guarantee program with an income guarantee of $5,000 and a benefit reduction rate of 40%. A person can work up to 2,000 hours per year at $10 per hour. Draw the person’s budget constraint with the income guarantee. Be sure to place..
All three of given restaurants are "burger joints" but they differ in many ways. Discuss how each restaurant tries to differentiate itself from the other two, especially with respect to target market, menu, interior/exterior décor, and corporate g..
Suppose Humphrey starts out with four pounds of food and seven gallons of water, while Lauren starts out with eight pounds of food and five gallons of water. Draw an Edgeworth box that shows all possible allocations of these goods, and plot the endow..
Suppose a central bank has increased its nation's nominal money supply considerably for several years in a row, but without any increase in inflation. Over the same time, suppose its economy has not grown. Assume the economy is initially in a long-te..
One critic of the North American Free Trade Agreement argued that "it can't be in our interest to sign this deal; Mexico gains too much from it." What does the theory of the gains from trade have to say about that criticism?
Consider the case of an accident involving an injurer and a victim. The victim has suffered a harm of 10,000. The law holds the injurer liable to fully compensate the victim if and only if the former was negligent. Find the ‘range of the settlement’ ..
Using diagrams show what changes in price and quantity would be expected in the beer market under the scenarios given. Indicate what happens to equilibrium price and quantity and state whether the effect is a change in demand/supply or quantity deman..
can you explain (in your own words) the difference between Proportional Taxation and Progressive taxation. If you have a job where you pay taxes, which type of tax do you think your employer uses on you (for the deduction)?
q1. the average variable cost per acre planted with wheat was 107 per acres. assuming a yield of 50 bushels per acre
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