Which of the following is not a statutory payroll deduction

Answers

Answer 1

Answer:

b. Contributions to healthcare plans

Explanation:


Related Questions

Most modern workers _________.
a.
Will change their careers, but not their jobs
b.
Will change their jobs, but not their careers.
c.
Will change both their jobs and careers
d.
Will change neither their jobs nor their careers

Answers

Answer:

B. Will change both their jobs and careers

Explanation:

Internet made it really easy for people to access information , including new educations. Due to the abundant of information that the people can use, acquiring new skills and connections that required to change jobs became much Easier.

According to the data that recorded by the government, around 51% of modern workers change their jobs within 1-5 years period and around 30% workers change their careers every 12 months.

Answer:

c.

Will change both their jobs and careers

Explanation:

got it right on edge

The aging of accounts receivable for Brett Company as of December 31 of the current year and estimated percentages of uncollectible accounts by age
group are presented in the table below. Calculate the estimate of uncollectible accounts expense. The balance of Allowance for Uncollectible Accounts
on December 31, before the adjusting entry is recorded, is a $236.89 credit
Age Group
Amount
Percent Uncollectible
Current
$16,485.18
20%
1-30
12,489.05
4.0%
31-60
6,958 18
80%
61-90
4,218 21
20.0%
Over 90
3,157 10
70.0%
$43,307 72
Current Balance of Allowance for Uncollectible Accounts
Estimated Addition to Allowance for Uncollectible Accounts

The aging of accounts receivable for Brett Company as of December 31 of the current year and estimated

Answers

Answer:

hey

Explanation:

educational management is an art or science?​

Answers

In my opinion it is science.

Answer:

science

Explanation:

dealing with psychology and pedagogy. Knowing the parameters of neurological development of learners, avails tools for curriculum development and classroom management.

write three democratic system government​

Answers

Answer:

Direct democracy.

Representative democracy.

Constitutional democracy.

Monitory democracy.

Explanation:

i think this is correct answer based off you question.

What steps could Susan have taken to help prevent this incident from occurring

Answers

Susan recently started a new job. Computers in the office are programmed to alert staff when the anti-virus software needs to be updated. Business security depends on this online security technology.

What does a business job entail?

Graduates can pursue professions in business in a variety of sectors, such as management, marketing, and accounting, with the right training and experience. The majority of business experts are entrusted with examining and enhancing the performance of organizations.

A demand exists for business jobs?

From 2021 to 2031, the overall employment of business and finance occupations is predicted to increase by 7%, approximately as quickly as the overall employment growth rate, adding 715,100 new positions.

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A company has net sales of $821,400 and cost of goods sold of $593,400. Its net income is $34,160. The company's gross margin and operating expenses, respectively, are:

Answers

Answer:

$228,000.00  and $193,840.00

Explanation:

Gross profit is the gain from business transactions before adjusting for operating expenses.  It is obtained by deducting the direct cost from net sales. The Cost of Goods sold represents direct expenses.

In this case:

Gross profit = Net sales - COGS

Gross profit =  $821,400 - $593,400

Gross profit =$228,000.00                                        

                               

Calculating operating expenses:

Gross profit - operating expenses = net income

In this case, gross profits = $228,000 , net income =  $34,160

i.e.,$228,000 -Operating expenses =$34,160

Operating expences = $228,000 - $34,160

operating expences =  $193,840.00                                    

 

On march 1 mike joined christmas Club His bank automatically deduct a $210 from his cheaser account of the end of each month, and deposit it into his christmas Club account is when will earn 0.0525 animit interst The account comes to term on December 1. Total interest earned in account

Answers

Mike will have a total of $2100 in his Christmas Club as his bank deduct $210 a month from March till December. Hence he may get $110.25 in interest if the interest rate is 5.25% on December 1.

Describe the Christmas Club.

An account specifically intended for holiday spending is a Christmas club account. It typically only lasts for a year or less. A savings account of this type, often known as a Christmas club or holiday club account, is one in which regular deposits are made by customers all year long. In order to pay for holiday shopping and other expenses, such as travel, the accrued savings are then withdrawn just before the holiday season.

Regular direct transfers from your paycheck may be permitted by the account in Christmas club, and those funds would be preserved and transferred to them in time for the holiday buying season. Based on the balance in the account, the yearly percentage yield will fluctuate between 0.05% and 5.00%.

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The complete question is:

On March 1 Mike joined Christmas Club His bank automatically deduct a $210 from his Chaser account of the end of each month, and deposit it into his Christmas Club account. What will he earn at 5.25% APR simple interest for the year, as the account comes to term on December 1.

Consider the two countries of Swala and Atlantis. Swala is a major producer of wheat and rice while Atlantis specializes in the production of marble and automobile parts. Engaging in free trade benefits both countries since Swala is an agrarian nation and Atlantis lacks arable land. This follows the theory of comparative advantage, and we can say that engaging in free trade benefits all countries that participate in it; however, this conclusion is based on which inaccurate assumptions?

a. We have assumed a simple world in which there are only two countries.
b. We have assumed the prices of resources and exchange rates in the two countries are dynamic.
c. We have assumed there are barriers to the movement of resources from the production of one good to another within the same country.
d. We have assumed that agrarian nations do not specialize in producing fertilizers.
e. We have assumed diminishing returns to specialization.

Answers

I think the answer is C

How does an employee know how much their paycheck is going to be?

pls help me

Answers

Answer:

There supposed to be given that info when applying for the job or in meeting! hope it helped :))

You paid $100 for a ticket to the Broadway show Hamilton, for which your value of
attending is $250. In NYC the day the show, you legally sell your ticket on the secondary
market for $1,000. This is an example of?

Answers

Answer:

avoiding the hidden or sunk cost fallacy.

Explanation:

The hidden or sunk cost fallacy refers to not realizing that a sunk cost has occurred and no matter what you do, you will not recover it or in this case, enjoy it. A classic example are all you can eat buffets and people simply eating too much because they paid for it.

In this case, if you had not sold the ticket and not earned the profit, you would  have incurred in the sunk cost fallacy by not recognizing that you could benefit more from selling the ticket instead of just insisting on going to see the play.

Watson Company applies overhead on the basis of machine hours. Given the following data, compute the amount of overhead applied for the period. Estimated annual overhead cost $1,500,000 Actual annual overhead cost $1,485,000 Estimated machine hours 300,000 Actual machine hours 295,000
A: $1,475,000
B: $1,500,000
C: $1,525,425
D: $1,485,000

Answers

Answer:

A: $1,475,000

Explanation:

The computation of the overhead applied is shown below:

But before that first determine the predetermined overhead rate which is

= Estimated annual overhead cost ÷ Estimated machine hours

= $1,500,000 ÷ 300,000

= $5

Now the applied overhead is

= Predetermined overhead rate × Actual machine hours

= $5 × 295,000

= $1,475,000

PAKSA : ANG PAGHAHANAP BUHAY NG MGA INA SA TAHANAN ANG SINASABING DAHILAN SA PAGKALIGAW NG LANDAS NG MARAMING ANAK O KABATAAN. SANG AYON / SALUNGAT​

PAKSA : ANG PAGHAHANAP BUHAY NG MGA INA SA TAHANAN ANG SINASABING DAHILAN SA PAGKALIGAW NG LANDAS NG

Answers

That looks uhhh cool ig.

You are given the following information for Lightning Power Company. Assume the company’s tax rate is 24 percent.

Debt: 9,000 5.8 percent coupon bonds outstanding, $1,000 par value, 24 years to maturity, selling for 106 percent of par; the bonds make semiannual payments.
Common stock: 420,000 shares outstanding, selling for $60 per share; beta is 1.11.
Preferred stock: 18,000 shares of 3.6 percent preferred stock outstanding, a $100 par value, selling for $81 per share.
Market: 5 percent market risk premium and 4.6 percent risk-free rate.
What is the company's WACC?

Answers

The Weighted Average Cost of Capital (WACC) for Lightning Power Company is 9.84%.

To calculate the Weighted Average Cost of Capital (WACC) for Lightning Power Company, we need to determine the cost of each component of its capital structure and their respective weights. The WACC is the weighted average of these costs.

Cost of Debt:

The debt component consists of 9,000 bonds with a 5.8 percent coupon rate, a $1,000 par value, and selling for 106 percent of par. The semiannual coupon payment is calculated as (5.8% * $1,000) / 2 = $29.

The current market price of the bond is 106% of $1,000, which is $1,060. The yield to maturity (YTM) can be calculated using financial calculators or Excel. Let's assume the YTM is 4.5%. Therefore, the cost of debt is 4.5%.

Cost of Common Stock:

The cost of common stock is determined using the Capital Asset Pricing Model (CAPM). The risk-free rate is given as 4.6%, and the market risk premium is 5%. The beta for Lightning Power Company's common stock is 1.11.

Using the CAPM formula: Cost of equity = Risk-free rate + Beta * Market risk premium. Therefore, the cost of equity is 4.6% + 1.11 * 5% = 9.71%.

Cost of Preferred Stock:

The cost of preferred stock is the dividend yield, which is the preferred dividend divided by the market price per share. The preferred stock has a 3.6% dividend yield, and it is selling for $81 per share. Therefore, the cost of preferred stock is 3.6% / $81 = 4.44%.

Next, we need to determine the weights of each component based on their market values. The market value of debt is 9,000 * $1,060 = $9,540,000. The market value of common stock is 420,000 * $60 = $25,200,000.

The market value of preferred stock is 18,000 * $81 = $1,458,000. The total market value of the company's capital structure is $36,198,000.

Now we can calculate the WACC using the formula:

WACC = (Weight of Debt * Cost of Debt) + (Weight of Equity * Cost of Equity) + (Weight of Preferred Stock * Cost of Preferred Stock).

Weight of Debt = $9,540,000 / $36,198,000 = 0.2639 (26.39%)

Weight of Equity = $25,200,000 / $36,198,000 = 0.6961 (69.61%)

Weight of Preferred Stock = $1,458,000 / $36,198,000 = 0.0401 (4.01%)

Plugging in the values, we get:

WACC = (0.2639 * 4.5%) + (0.6961 * 9.71%) + (0.0401 * 4.44%) = 2.88% + 6.78% + 0.18% = 9.84%.

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whats a good job for me A. nail artist B.GameDev C. Aesthetic photography D.Anime Actor idc They all sound good​

Answers

Answer:

C. Aesthetic photography

Explanation:

Answer: it really depends on what you're good at !!

Explanation: seeing all the jobs you listed here, if you look more into the requirements and the education that is needed, see which one is either easier or what you're good in in that field, and go for that !!

i think that either a nail artist or an aesthetic photographer would be good for you :)

The market price of hamburgers in a college town increased recently, and the students in an economics class are debating the cause of the price increase. Some students suggest that the price increased because several burger joints in the area have recently gone out of business. Other students attribute the increase in the price of hamburgers to a recent decrease in the price of french fries.
Everyone agrees that the decrease in the price of french fries was caused by a recent decrease in the price of potatoes, which are not generally used in making hamburgers.
The first group of students thinks the increase in the price of hamburgers is due to the fact that several burger joints in the area have recently gone out of business.
On the following graph, adjust the supply and demand curves to illustrate the first group’s explanation for the increase in the price of hamburgers.
Note: Select and drag one or both of the curves to the desired position. Curves will snap into position, so if you try to move a curve and it snaps back to its original position, just drag it a little farther.
Demand
Supply
PRICE (Dollars per hamburger)
QUANTITY (Hamburgers)
Demand


S
1

S
2


The second group of students attributes the increase in the price of hamburgers to the decrease in the price of french fries.
On the following graph, adjust the supply and demand curves to illustrate the second group's explanation for the increase in the price of hamburgers.
Demand
Supply
PRICE (Dollars per hamburger)
QUANTITY (Hamburgers)
D
1


D
2

Supply


Suppose that both of the events you have just analyzed are partly responsible for the increase in the price of hamburgers. Based on your analysis of the explanations offered by the two groups of students, how would you figure out which of the possible causes was the dominant cause of the increase in the price of hamburgers?

If the equilibrium quantity of hamburgers decreases, then the supply shift in the market for hamburgers must have been larger than the demand shift.
Whichever change occurred first must have been the primary cause of the change in the price of hamburgers.
If the equilibrium quantity of hamburgers decreases, then the demand shift in the market for hamburgers must have been larger than the supply shift.
If the price increase was small, then the supply shift in the market for hamburgers must have been larger than the demand shift.

Answers

Please find attached the graphs containing the requested information

The dominant cause of the increase in the price of hamburgers can be determined by the direction of change on quantity demanded: If the equilibrium quantity of hamburgers decreases, then the supply shift in the market for hamburgers must have been larger than the demand shift.

The demand curve shows the relationship between price and quantity demanded. The demand curve is negatively sloped.

The supply curve shows the relationship between price and quantity supplied. The supply curve is positively sloped.

If the increase in the price of hamburgers is as a result of burger joints closing down.

If burger joints closes down, the supply of hamburgers would decrease. The supply curve would shift to the left. As a result of the leftward shift of the supply curve, equilibrium price would rise and equilibrium quantity would decrease.

The increase in the price of hamburgers is as a result of a decrease in the price of French fries.

Hamburgers and French fries are complement goods. Complement goods are goods that are consumed together. An decrease in the price of French fries would lead to an increase in the demand for hamburgers. This would lead to a rightward shift of the demand curve while the supply curve remains unchanged. As a result, both equilibrium price and quantity would increase.

If both events are partially responsible, the supply curve would shift to the left, leading to an increase in price and a decrease in quantity and the rightward shift of the demand curve would lead to an increase in equilibrium price and quantity.

If the decrease in supply is the dominant factor, there would be a decrease in equilibrium quantity.

If the increase in demand is the dominant factor, there would be an increase in equilibrium quantity.

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The market price of hamburgers in a college town increased recently, and the students in an economics
The market price of hamburgers in a college town increased recently, and the students in an economics

"On its statement of cash flows, Goodwin Industries shows cash USED by investing activities of $300,000, cash PROVIDED by financing activities of $175,000, and a change in cash for the year of $425,000. How much cash was provided by operating activities

Answers

Answer:

$550,000.00  

Explanation:

The formula for change in cash in cash during the year can be used to determine the amount of cash provided by operating activities as shown below:

change in cash=cash provided by operations-cash used by investing activities+cash provided by financing activities

change in cash is $425,000

cash provided by operations is represented by x

cash used by investing activities is $300,000

cash provided by financing activities is $175,000

$425,000=x- $300,000+$175,000

x=$425,000+$300,000-$175,000

x=$550,000.00  

Which writer would most need to consider the budget when writing a script? A. Nick is writing a play for an end-of-term school play. B. Luke's team is working on a science fiction movie for a top Hollywood studio. C. Patricia is scripting for a cookery show featuring top chefs. D. Renita is excited about writing her first Broadway play. I know it's NOT (C)

Answers

Answer:

A

Explanation:

Nick is writting a play for an end of term school play

Question 7 of 10
If you borrow $2,000 at 5 percent simple interest, how much will you owe
after one year?
A. You will owe 5 percent of the principal only.
OB. You will owe the principal of $2,000 only.
C. You will owe the principal of $2,000 plus 5 percent of the principal.
D. You will owe the principal of $2,000 minus 5 percent of the
principal.

Answers

You will owe the principal of $2,000 plus 5 percent of the principal.The correct answer to this question is C.

Simple interest is calculated by multiplying the principal by the interest rate and the time period. In this case, the principal is $2,000 and the interest rate is 5 percent. After one year, the interest accrued would be $100 (5% of $2,000).

Therefore, the total amount owed after one year would be $2,100 ($2,000 principal + $100 interest). It is important to note that simple interest is calculated only on the principal amount borrowed, and not on any interest that has already accrued.

Additionally, the interest rate is usually expressed as an annual rate, so it is important to adjust the time period accordingly if the loan term is less than one year. The correct answer to this question is C.

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In sequential order, the four phases of the business cycle are

Answers

The four phases that characterize the Business Cycle are:

Expansion. Peak. Contraction. Trough.

What are the stages of the Business Cycle?

The first stage is that of expansion where the economy grows and employment shrinks. At the peak, the economy is producing at full capacity.

The economy now starts slowing down at the contraction stage which is also known as a recession. If things don't change, this leads to a trough which is where the economy will be at its worst.

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Answer:expansion, peak, contraction, and trough.

Explanation:

Federal Semiconductors issued 12% bonds, dated January 1, with a face amount of $940 million on January 1, 2024. The bonds sold for $873,516,024 and mature on December 31, 2043 (20 years). For bonds of similar risk and maturity the market yield was 13%. Interest is paid semiannually on June 30 and December 31. Federal determines interest at the effective rate. Federal elected the option to report these bonds at their fair value. On December 31, 2024, the fair value of the bonds was $860 million as determined by their market value in the over-the-counter market. Assume the fair value of the bonds on December 31, 2025, had risen to $866 million. Required: Complete the below table to record the following journal entries. 1. & 2. Prepare the journal entries to record interest on June 30, 2024, December 31, 2024, and adjust the bonds to their fair value for presentation in the December 31, 2024 balance sheet, and record interest on June 30, 2025, December 31, 2025, and adjust the bonds to their fair value for presentation in the December 31, 2025, balance sheet. Federal determined that none of the change in fair value in 2024 was due to a decline in general interest rates and one-half of the increase in fair value in 2025 was due to a decline in general interest rates.

Answers

Answer:

Journal Entries:

1. June 30, 2024

Interest Expense           $30,660,960   (=$940,000,000 x 0.12 x 6/12)

   Cash                               $47,000,000  (=$940,000,000 x 0.12 x 6/12)

2. December 31, 2024

Interest Expense           $30,660,960   (=$940,000,000 x 0.12 x 6/12)

   Premium on Bonds Payable   $5,000,000  [(($873,516,024 - $860,000,000)/$940,000,000) x $940,000,000 x 6/12]

   Bonds Payable                   $25,000,000  [(($873,516,024 - $860,000,000)/$940,000,000) x $940,000,000]

   Cash                               $47,000,000  (=$940,000,000 x 0.12 x 6/12)

3. June 30, 2025

Interest Expense           $28,020,000   [=$940,000,000 x 0.12 x 6/12 x (1 - 0.5)]

   Cash                               $47,000,000  (=$940,000,000 x 0.12 x 6/12)

4. December 31, 2025

Interest Expense           $28,020,000   [=$940,000,000 x 0.12 x 6/12 x (1 - 0.5)]

   Premium on Bonds Payable   $3,000,000  [(($866,000,000 - $860,000,000)/$940,000,000) x $940,000,000 x 6/12 x 0.5]

   Bonds Payable                   $12,500,000  [(($866,000,000 - $860,000,000)/$940,000,000) x $940,000,000 x 0.5]

   Cash                               $47,000,000  (=$940,000,000 x 0.12 x 6/12)

Explanation:

1. The company records the interest expense and the cash paid for the interest.

2. The company records the interest expense and adjusts the Bonds Payable account to its fair value. The premium on the Bonds Payable account is credited for the difference between the face amount of the bonds and the fair value of the bonds, and the Bonds Payable account is debited for the face amount of the bonds. The cash paid for the interest is also recorded.

3. The company records the interest expense and the cash paid for the interest.

4. The company records the interest expense, adjusts the Bonds Payable account to its fair value, and credits the Premium on Bonds Payable account for the difference between the fair value of the bonds and the face amount of the bonds. The cash paid for the interest is also recorded. The increase in the fair value of the bonds is assumed to be due to a decline in general interest rates, and one-half of the increase is recognized as an adjustment to the fair value of the bonds.

An Ethiopian company decides to launch some of its fashion accessories into the European market. Its marketing director is about to begin the process of creating a marketing plan for this new initiative. Which of the following is the first step the director should take before beginning to plan the marketing mix details?
A. First the director must define the company's target markets and understand which of its products fit with each market's businesses and consumers.
B. First the director needs to research, develop, and create various products to launch into the international market.
C. First the director must decide which promotional tactics to use in particular markets to launch products to consumers and businesses.

Answers

Answer:

A. First the director must define the company's target markets and understand which of its products fit with each market's businesses and consumers.

Explanation:

After taking the decision of entering the European Market, the Ethiopian company marketing director should first determine which of the company's products could be commercialized in Europe, and after, the marketing director should narrow the market even more: determining the target customer demographics of the European Market, for example: old people, young people, women, men, college-educated people, non-college educated people, northern Europeans, Southern Europeans, etc.

2020 quantity
cost
PRICE
2021 quantity
cost
PRICE
Brocoli Cauliflowe Carrots
100
200
50
75
1.5
80
120
1.5
75
2
75
225
3
300
500
50
0.1
500
100
0.2
100
325
475
CPI base year 2020
100
146.154
46%
Inflation rate

Answers

The inflation rate can be calculated using the Consumer Price Index (CPI) formula, which measures the change in the price of goods and services over time. In this case, the base year is 2020, and we want to calculate the inflation rate for 2021.

First, we need to calculate the CPI for 2020 and 2021:

CPI 2020 = (1001.5) + (2002) + (503) = 500

CPI 2021 = (751.5) + (1201.5) + (2253) = 975

Next, we can use the formula to calculate the inflation rate:

Inflation rate = ((CPI 2021 - CPI 2020) / CPI 2020) x 100%

Inflation rate = ((975 - 500) / 500) x 100%

Inflation rate = 95%

Therefore, the inflation rate between 2020 and 2021 is 95%.

Critical Thinking
7. Classify Identify the factor of pro-
duction represented by each of the
following: (a) fishing waters, (b) an
office building, (c) clerks in a store,
(d) a tractor, (e) a student in a cook-
ing school. Explain.
Quic
10. Loo
Wo
list
ar
n
8. Infer If companies can become
more productive by increasing their
physical capital, why would a com-
pany not buy up-to-date computers
for all employees each year?
9. Apply Think of a good or service
that you consumed today. List at
least five factors of production used
to produce that good or service.
Include at least one example each of
land, labor, and capital.

Answers

7. The production factor are, (a) fishing waters Land, (b) an office building Capital, (c) clerks in a store Labor, (d) a tractor Capital, (e) a student in a cooking school Entrepreneurship.

What is factor of production?

There are four factors of production namely, land, labor, capital and entrepreneurship.

8. Infer If companies can become more productive by increasing their

physical capital, why would a company not buy up-to-date computers

for all employees each year?

Companies can become more productive if they keep their assets up to date, but the assets have a specific life and can be used up to it. The assets must be utilized for its specific life to minimize the expenses and maximize the profit.

9. Apply Think of a good or service that you consumed today. List at

least five factors of production used to produce that good or service.

Include at least one example each of land, labor, and capital.

I consumed food today this included more than five factors of production, the food was cooked by a chef this is labor, the food was cooked in a kitchen that was the land, the food was served in a restaurant that is the entrepreneurship and the food was prepared by mixing many ingredients for example, rice, meat and spices this make the capital.

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why do i need to upgrad

Answers

Answer:

so see the new features or changes on the app or in the app

Answer:

in general or what? if its in general tgen it would be to have tge newer and most accurate thing

The positions of art director and editor are both supervisory ones.
True
False

Answers

That is False because a editor edits things.

Question 1 of 20
Fifteen thousand shares of common stock are issued at a par value of $1.
The journal entry for this transaction includes a debit to for $15,000.
OA. Dividends Payable
B. Paid-In Capital
C. Cash
O D. Common Stock
SUBMIT

Answers

C. Cash just took the test

Which task is most suitable for creating an algorithm?
saving time writing a report
explaining how to set up a mobile phone for use
choosing photos to put on a website
finding the best of three suggested routes to drive to a concert

Answers

Answer:

finding the best of three suggested routes to drive to a concert

Answer:

D. finding the best of three suggested routes to drive to a concert

Explanation:

thank the other person :)

Make sure to look on my page for any fręē põïńtś in the future this one is for 10 witch means it’s the last one.
If you don’t get this remember I well have more later!

Answers

Answer:

Thank you, appreciate it.

Explanation:

Because I secretly love you.

Examine the photo below that is used to tell a news story. What category of photography could this photo be classified as?
A. tonalism
B. photojournalism
C. photo secession
D. straight photography

Examine the photo below that is used to tell a news story. What category of photography could this photo

Answers

The category of photography that this phot can be classified part of is B. photojournalism

What is photojournalism?

The dissemination of news using images is referred to as photojournalism. As well as online news sources and microblogging websites, these photos frequently appear in print publications including newspapers and magazines. A picture can quickly improve the story that a news item conveys to its viewers and is said to be worth 1,000 words.

A professional who uses images rather than words to tell tales is known as a photojournalist. They capture images and edit them so they can be arranged to convey events. The subjects that photojournalists cover can range from occurrences or problems in their own local areas to instability in other countries.

This photo is therefore under the category of photojournalism.

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Answer: photojurnalism

Explanation:

A partnership has assets of cash of $10,000 and equipment with a book value of $160,000. All liabilities have been paid. The partners’ capital accounts are as follows Michael $80,000, Gregory $60,000 and Phillips $30,000.

Answers

Michael should receive $124,000 in the final settlement.

First, we need to determine the total value of the partnership's assets. The cash is worth $10,000, and the equipment has a book value of $160,000. If the equipment is sold for $100,000, we need to adjust the value of the assets accordingly:

Total assets = Cash + Equipment - Equipment loss

Total assets = $10,000 + $160,000 - ($160,000 - $100,000)

Total assets = $110,000

Next, we need to determine the partners' shares of the remaining assets based on their profit-sharing ratios. The total profit-sharing ratio is 4 + 3 + 3 = 10.

Michael's share = (4/10) x $110,000 = $44,000

Gregory's share = (3/10) x $110,000 = $33,000

Phillips' share = (3/10) x $110,000 = $33,000

Finally, we need to add the partners' capital account balances to their shares of the remaining assets to determine their total distribution.

Michael's total = $44,000 + $80,000 = $124,000

Gregory's total = $33,000 + $60,000 = $93,000

Phillips' total = $33,000 + $30,000 = $63,000

Learn more about profit-sharing ratios here

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The given question is incomplete, the complete question is:

A partnership has assets of cash of $10,000 and equipment with a book value of $160,000. All liabilities have been paid. The partners' capital accounts are as follows Michael $80,000, Gregory $60,000 and Phillips $30,000. The partners share profits and losses on a 4:3:3 basis. If the equipment is sold for $100,000 and there are no liquidation expenses what amount should Michael receive in the final settlement?

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