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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.
Under what authority can Congress levy an income tax?
What is meant by absolute advantages and comparative advantages? What are the differences between the two?
Explain the relationship between the price elasticity of demand and total revenue. What are the impacts of various forms of elasticities (elastic, inelastic, unit elastic, etc.) on business decisions and strategies to maximize profit? Explain using e..
Japan's rapid growth pushed its real GDP per capita above that of the United States. Growth rates in follower nations such as South Korea and Hong Kong averaged about 10 percent per year.
Suppose a (very small) country has a central bank who has issued 100m of money, where nominal output is 350m annually. How frequently is the average piece of money used? Give two realistic occurrences that might drive changes in the velocity of money
Suppose that a given firm experiences decreasing marginal product of labor with the addition of each worker regardless of the current output level. Average total cost will be A) rising at al points B) falling at all points C) constant D) U-shaped
You are an industry analyst that specializes in an industry where the market inverse demand is P = 200 - 4Q. The external marginal cost of producing the product is MCExternal = 6Q, and the internal cost is MCInternal = 12Q. What is the socially effic..
The state-appointed receiver for a city said his city’s declaration of bankruptcy had proved invaluable in helping it cut costs. Before the city declared bankruptcy, he said, he had found it impossible to obtain meaningful concessions out of the city..
And asset will cost $1,989 when purchased this year. It is further expected to have a salvage value of $243 at the end of its 9-year depreciable life. Calculate the book value at the end of year 2 using method #2. Provide the answer with two decimal ..
assume which the benefit to the villagers of each additional cow grazing on the commons declines as more cows graze, since each additional cow has less grass to eat than the previous one.
A certain machine will have a cost of $25,000 (then $) six years from now. Find the PW of the machine if the real interest rate is 10% per year and the inflation rate is 5% per year using (a) constant-value dollars, and (b) then-current dollars.
Comfort Company assumed the operation of a hotel. The previous owner had a contract with Linen Supply. Linen Supply continued to furnish services after Comfort Company assumed ownership. Can Linen Supply recover based on breach of an express contract..
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