The E.N.D. partnership has the following capital balances as of the end of the current year: Pineda $ 310,000 Adams 280,000 Fergie 270,000 Gomez 260,000 Total capital $ 1,120,000 Answer each of the following independent questions: Assume that the partners share profits and losses 3:3:2:2, respectively. Fergie retires and is paid $312,000 based on the terms of the original partnership agreement. If the goodwill method is used, what is the capital balance of the remaining three partners? Assume that the partners share profits and losses 4:3:2:1, respectively. Pineda retires and is paid $360,000 based on the terms of the original partnership agreement. If the bonus method is used, what is the capital balance of the remaining three partners? (Do not round your intermediate calculations. Round your final answers to the nearest dollar amounts.)

1.
At the beginning of the year, you had $65,000 in accounts receivable and an allowance for doubtful accounts of $6,000 (net realizable value $59,000). During the year you made sales of $600,000, of which 80% were on account, and $12,000 of the sales on account were returned. You collected $430,000 in cash from your customers during the year, wrote off $3,000 in uncollectable accounts, and recovered $1,000 from previous years’ write-offs.

What is your bad debt expense for the year, assuming that 7% of your year-end accounts receivable will not be collected?
a) $7,210
b) $16,000
c) $3,840
d) $3,000
e) $4,000

Klamaty, SA., is looking for feedback on performance. The company compares the budget for the year with the actual costs. Klamaty, SA., had the following budgeted data:

Unit sales for 2019 10,000

Unit production for 2019 10,000

Budgeted fixed overhead for 2019:

Supervision $18,000

Depreciation 20,000

Rent 10,000

Budgeted variable costs per unit:

Direct materials $18.00

Direct labour 25.00

Supplies 0.20

Indirect labour 1.00

Power 0.10

The following actually occurred:

Actual unit sales for 2019 11,000

Actual unit production for 2019 12,000

Actual fixed overhead for 2019:

Supervision $17,850

Depreciation 20,000

Rent 10,000

Actual variable costs for 2019:

Direct materials $214,000

Direct labour 320,000

Supplies 2,500

Indirect labour 10,000

Power 1,500

Required: a) Prepare a performance report for all costs showing static budget variances.

b) Prepare a performance report for all costs showing flexible budget variances

c) Evaluate the variances.

Calculate the balance of the premium account at the end of Year 1 - Quarter 4 using the following information:

$80,000 four-year note with 12% interest. The market rate is 11%.  This note's payments are quarterly and interest also compounds quarterly.  

​Intel's average cost in a given year falls with the quantity that it produces. In​ addition, extra production this year lowers the average cost curve next year. For​ example, in year​ 1,

AC=42

if quantity is 20 and

AC=30

if quantity is 60. If Intel produces 20 in year 1 and 40 in year​ 2, the average cost in year 2 will be

30.

​However, for every extra 10 units it produces in year​ 1, its AC for any given quantity in year 2 falls by

5​%.

What is the total cost and the average cost over the two years combined if the firm produces 20 in year 1 and 40 in year​ 2?

The total cost​ (C) is

C=​$20402040.

​(Enter your response rounded to two decimal​ places.)

The average cost​ (AC) is

AC=​$3434.

​(Enter your response rounded to two decimal​ places.)

What is the total cost and average cost over the two years combined if the firm produces 60 in year 1 and 40 in year​ 2?

The total cost​ (C) is

C=​$nothing.

​(Enter your response rounded to two decimal​ places.)

The average cost​ (AC) is

AC=​$nothing.

​(Enter your response rounded to two decimal​ places.)

Over the two years​ combined, what is the true additional cost of producing 60 instead of 20 in year​ 1?

The marginal cost of producing 60 units in year 1 instead of 20 is

Monterrey Properties enters into a 4-year lease for an automobile to be used in operation. The agreement obligates the company to make lease payments of $10,000 at the end of every year. Its useful economic life would be 8 years. Assume that the company's borrowing rate is 6%. The PV factor for 4 periods, 6%, ordinary annuity is 3.4651.

How much are the lease liability and leasehold assets under IFRS?

What expenses will Monterrey record for the first year of the lease under IFRS?

The following spreadsheet is for Manhattan Family Dentistry on January 1 of the current year.

Marie is a resident of Belgium. For the year, a US company paid her for 200 days of work, ---140 in Belgium and 60 in the US. How is her US-source income computed?

A) All of her income for the year is US-source income.

B) Her US-source income cannot be determined.

C) Her US-source income is her total compensation for the year, multiplied by 60/200

D) Her US-source income is her total compensation for the year, multiplied by 60/365 (or 366 if the tax year is a leap year).

A second year student decides to do research in a nutrition laboratory that is studying the effect of caffeine on glycogen metabolism. Caffeine inhibits cAMP phosphodiesterase. If the caffeine is added to cells, which enzymes are affected? Would you expect the rate of glycogen degradation process to decrease or increase? What about the rate of glycogen synthesis? Please explain. (10 points)