How much will lisa receive

Assignment Help Financial Accounting
Reference no: EM132971305

Problem 1: Lisa and Mike are partners in a business. The income that the business earns is divided between Lisa and Mike in a 2:3 ratio respectively. Their business earned an income of $250,000 this year. How much will Lisa receive?

Reference no: EM132971305

Questions Cloud

Calculate the cash amount of the interest payments : Calculate the CASH AMOUNT of the Interest Payments each time a payment is made and the INTEREST EXPENSE we would record each payment
What are the journal entries for each august transaction : What are the journal entries for each August transaction below that Roofers would record. The company records adjusting entries monthly.
What is cost of goods sold using variable costing : In addition, the company has fixed selling and administrative costs of $154,600 per year. What is cost of goods sold using variable costing
Prepare the issuer journal entry for each : Prepare the issuer's journal entry for each of the following separate transactions. On April 1, OP Co. issues no-par value common stock for $89,000 cash
How much will lisa receive : How much will Lisa receive? Lisa and Mike are partners in a business. The income that the business earns is divided between Lisa and Mike in a 2:3 ratio
What is jessica weighted average in the class : Jessica wants to calculate her grade in her accounting class. What is Jessica's weighted average in the class rounded to the nearest whole number?
Compute cash used in operating activities : Its comparative balance sheet shows that accrued liabilities decreased $9,000 and prepaid expenses increased $5,000. Compute cash used in operating activities
Should collegiate collections sell lofts in unfinished form : Based on relevant cost analysis, should Collegiate Collections sell the lofts in unfinished form or process them further prior to selling? (enter yes or no)
Research and report the performance of the uk stock market : Research and report the performance of the UK stock market, with extra marks awarded for good quantitative analysis provided

Reviews

Write a Review

Financial Accounting Questions & Answers

  Pass all relevant adjusting entries for the transactions

Pass all relevant adjusting entries for the transactions at the end of month of Jan. Purchase machine by making cash payment of $100,000 upfront the machine

  What is the annual gross income of the server

An average server sells $1400 in a single shift. If the server makes an average of 14% tip of a bill, what is the annual gross income of the server?

  Calculate the selling price of the bond issuance

Winter Corp. issued 10-year bonds with a par value of $707093, on December 31, 2020. Calculate the selling price of the bond issuance

  What are required sales if heese company desires net income

Heese Company has fixed costs of $1,500,000 and variable costs are 40% of sales. What are required sales if Heese Company desires net income of $150,000?

  Using the straight-line method of depreciation

Equipment acquired on January 4, 2011, at a cost of $298,100, has an estimated useful life of nine years and an estimated residual value of $38,900. What was the annual amount of depreciation for the years 2011, 2012, and 2013, using the straight-lin..

  What is the price of the bond

A corporation issued a $1,000 par value bond paying 4% interest with 10 years to maturity. Assume the current yield to maturity on such bonds is 5 %. What is the price of the bond?

  Which are potential disadvantages to the use of company

Which are potential disadvantages to the use of company stock as an investment option under a defined contribution plan EXCEPT

  Question 1prof obrien realized his dream and opened obrien

question 1prof. obrien realized his dream and opened obrien vineyards. at this point he only gives a pinot noir but

  What is the balance of the allowance for doubtful accounts

What is the balance of the allowance for doubtful accounts for Rickard as at November 30, 20X5?

  What is the required rate of return on the equity

The historical return on equity (ROE) of 12 per cent is expected to continue in the future. What is the required rate of return on the equity

  Prepare the journal entries to record the given transaction

The bonds pay interest annually on December 31. The bonds were issued to yield 10%. Bond issue costs associated with the bonds totaled $18,000.

  Question part 1the tim cost recovery corporation tim

question part 1the tim cost recovery corporation tim purchased and placed in service the subsequent depreciable

Free Assignment Quote

Assured A++ Grade

Get guaranteed satisfaction & time on delivery in every assignment order you paid with us! We ensure premium quality solution document along with free turntin report!

All rights reserved! Copyrights ©2019-2020 ExpertsMind IT Educational Pvt Ltd