thandie-and-marco-are-partners-with-capital-balances-of-60000-they-share-profits-and-losses-at-50--2

Question

Thandie and Marco are partners with capital balances of $\$ 60,000$ . They share profits and losses at 50$\%$ . Chris contributes $\$ 90,000$ to the partnership for a 1$/ 3$ share. What amount should the partnership record as an individual bonus to each of the old partners?
A. $\$ 10,000$
B. $\$ 7,000$
C. $\$ 3,000$
D. $\$ 20,000$

Zach Steedman · Accepted Answer

we have a business that is invested by three people. The 1st 2 people invest attitude of three ratio, and then we know that this third person invest twice as much as the two of them combined. So, for instance, if we combine two and three, we would get five and twice a Muchas that is 10. And so we know the ratio amongst the three people is 2 to 3 to 10. And so basically, we can find out how much this person this third person has by saying, if I do 10 plus three plus two, that&#x27;s 15. And so basically, this would be kind of the total. And so if I&#x27;m saying, what this person owns is 10 to 15 ratio where 15 is the total company, and maybe that doesn&#x27;t make quite as much sense is seen. It is a fraction this person owns 25th of that company and a nisi kind of way I&#x27;m already getting to part C. If you divide both of these by five, that person owns 2/3 of the company. And so this right here is the answer to part C. And I&#x27;m gonna use this also to find the answer to part, Okay, Because if this company is worth $30 million I just need to multiply this by the two. Not 1/3 by 2/3. And I&#x27;ll see how much this person owns. Well, 2/3 as a decimal 0.6 repeating. And so, if you plug that into your calculator multiplied by 30 um, you will get that this person owns 20 million of the company. So let me try to write that and maybe how I didn&#x27;t green so that it kind of stands out in this little bit jumbled up. So this is the answer to part A. This person owns 20 million of the company and Parsi they own 2/3. I believe Part B just asked, Do they own more than half of it and does a major investor on Matt more than half of business? Absolutely. Half the business would be 15 million and 20 million is more than half. And so sorry that this is a hair disorganized with the answer. Part B is yes, they do own a majority of the business. A 20 million be Yes, they own a majority of it. And C they own 2/3

Tani Iqbal · Answer

Okay, so in the problem, there are two partners. Partner one is going to invest $10,000 immediately. Partner, too. They want to contribute in equivalent equivalent amount in three years. So whatever partner one is going to make in three years partner to is going to invest after three years. That&#x27;s what their initial and I was going to end up being so that these two numbers are the same. So how much should partner to invest to match partner one&#x27;s final investment? That&#x27;s basically what the questions asking. So what you need to know before it&#x27;s and the problem is the interest rates, which I&#x27;m going to label Lazar, is 6% so that the same thing is 0.6 as a decibel, and then it is calm, pounded semi annually. So if it&#x27;s a compound interest, probably need to figure out how many times is going to be, um, how about it? So, Sam semi annually means twice a year, so you&#x27;re gonna your end is gonna be, too, and then t is your time. So that&#x27;s three years. So you&#x27;re going to stick that into the formula is equal to P one plus are over. And aunty A is what we&#x27;re trying to figure out. That&#x27;s the final amount for partner one. Okay, P, that&#x27;s 10,000. That&#x27;s your initial amount. And you have one plus R, which is 0.6 over two over two times three. Okay, we&#x27;re going to just take that all into a calculator and see what we get. So you get 10,000 and then one plus 10.6 divided by two. That&#x27;s 20.3 and then to the power of two times three, which is so that&#x27;s going to get us 11 940.52 So your answer is 11 points. Nine. Does it point comma 40 points. Five. That is your answer.

Christine Anacker · Answer

We&#x27;re dealing with a situation where we&#x27;ve got three different couples here. All want to make next $1000 in here interests. They&#x27;ve got three different amounts of money they invest, and we&#x27;ve got three different percentages weaken accounts. We can invest you. You. So they just wanted to give some options as to what we could do in order to make this money. So the lowest, a couple of the lowest mom is gonna want to try to invest more money in the higher one. For example, I could go No, in the 7% What? My money evenly between the 10 9 in the 11%. And I&#x27;d make exactly my $2000 but I would need whereas if I yeah, if I wanted to go $1000 a year, I would then have to put a boat but eat ground in this one in the last 11,000 this one in order to make it. Or I could go a 4000 here and then I go with 2000 here in the last 16,000 here. So those are some options. What would you They&#x27;re not all the options, but they are some of them. If I looked at a couple B, I have more money to invest. I don&#x27;t have as much in the higher percentage accounts, but more into the lower percentage accounts to make the same. So, for example, I could split my money evenly between the two lower percentages nine 11%. Or I could stick, Let&#x27;s say 2500 years and I could stick 4500 years in the last four grand here, and I would have enough money or I could split it between my high end and my low. So I put 18,750 there and then the last 6250 my last one, but none of my middle account and still make the 2000 I need in a month. And if I look at my last one, they&#x27;ve got $30,000. So even if I look here and I put it all in my bottom account here, that already nets more than two grand a month, you can slip this however you want and you&#x27;re running it to Grandma. I mean, you could put 10,000 here. Yeah, 1000 here, and you are making more than enough money. So however you want to split, see, you&#x27;re gonna make enough money more than enough money. Regardless, that&#x27;s just some options of what we could do. Um, that body slides here does ask. What advice would you give? Never, ever, ever. If you can avoid it, try to put all of your money one account. Always try to split it up with your three differences. Ever heard the phrase Don&#x27;t put all your eggs in one basket? That&#x27;s because you can lose. Markets are risking batsman Special hiring percentages tend to have more risk, so if you can put it in the Lord this energy war of secret investing bracket. But you really your best option is to try to split it all up AM.

Zach Steedman · Answer

an interesting problem here. First thing we know I labeled at person 123 and four person one invested $100,000 that much is given. And then person to invested x, where the person three represented are invested two x into the company and we don&#x27;t know what exes. And so we&#x27;re searching for that value. And then person four invested the same as all of them combined. And so the very first part, for part is what did person for invest? Well, it&#x27;s a person for I don&#x27;t know. I&#x27;m just gonna write it here they invested X plus two X, which is three X plus 100,000. That&#x27;s how much person for invested. Three X plus 100,000. And so I believe they say, to write as an expression, not an equation. So, yeah, I don&#x27;t want an equal sign there and I don&#x27;t have one. You&#x27;re an equation that allows you to find the amount. Invest by each person well, if person four invested three x plus 100,000 and person one invested 100,000 person to invested X and person three invested two x Then that&#x27;s three x together Basically, we can just combine these things to, say, six X plus 200,000. But we also know Moamer zero that this whole company is worth 1.1 million. And so they asked for an equation this time. So there&#x27;s an equal sign here is that equation. And so that&#x27;s the answer to part B right there. And so this is the answer part A right here and now, if we solve for X, then we confined every single person&#x27;s investment. So let&#x27;s do it. If I subtract 200,000 from both sides of the equation, that&#x27;s gonna be my first up. And so what? I&#x27;m left with this six X over here. I&#x27;m left with nine 100,000 over here. And so I have to divide by six on both sides of the equation to get my X value. And I&#x27;ll just put that up here because I&#x27;m running out of room. And so basically, you have a 900,000 divided by six, and that is 150,000. All right, so I&#x27;m gonna go ahead and go right on back to my person. 123 and four person one, given 100,000 person to X or, in other words, 150,000. Person 32 x two times 150,000 is 300,000 and there&#x27;s a couple different ways to think about person, for I think the easiest way is they have everything added up here. And so let&#x27;s just add it up. 100,000 plus 300,000 is 400,000 plus another 150,000 is 550 1000. Feel free to add up these four amounts to double check and it will indeed equal 1.1 million.

Angela Guo · Answer

we&#x27;re going to let oh be equal to the value. Uh, the easy stock and your bonito acts you both of the value of X Y z. So Okay, so what we know is that one share of the VC stock is worth three kinds of much as X y z. So meaning a is equal to you re x. So we have an investor who has 100 shares of each, and we know that the total value of the stock together is 4500. So many 100 shares. Uh, BBC at price of a plus 100 shares of X y Z prices. Thanks. Well, give us a total value of 4000 500 cases. Since we know that um is equal to three X, we can substitute, but it But this will give us 400 times three X, which is re 100 I What 100 is equal to 4500. The nail combining like terms this will give us 400 X is equal. The 4000 500 now dividing both sides by 400 will give us access equal to $11.25. So The question is asking how much money is invested in stocks. So access worried $11.25 and the investor has 100 shares of it. Then he has 11.25 times 100 people would have 1125 invested. And so I see. In this sense, a is equal to three kinds. Axe. He is going to be equal 23 times 11.25 which is 33.75 And he also has 100 shares. Uh, that&#x27;s so so this is going to be they think my Southern five times, huh? Times 100 and that&#x27;s going to give us $3375 invested.

Problem

Thandie and Marco are partners with capital balan…

Problem 13 Easy Difficulty

Answer

Related Courses

Principles of Accounting Volume 1: Financial Accounting

Related Topics

Discussion

Top Educators

Recommended Videos

Watch More Solved Questions in Chapter 15

Video Transcript

Mitchell Franklin, Patty Graybeal, Dixon Cooper

Principles of Accounting Volume 1: Financial Accounting

What do you need help with?

Textbooks

Ask a question

Courses

AI Tutor

Principles of Accounting Volume 1: Financial Accounting

Mitchell Franklin, Patty Graybeal, Dixon CooperPrinciples of Accounting Volume 1: Financial Accounting

Mitchell Franklin, Patty Graybeal, Dixon Cooper

Principles of Accounting Volume 1: Financial Accounting