Author: Anonymous

Immigrant groups often try to preserve aspects of their culture, but history shows that generally they _____ to their new environment.

Jerry, a partner in the JSK partnership, begins the year on January 1, 2021 with a capital balance of $20,000. The JSK partnership agreement states that Jerry receives 6% interest on his monthly weighted average capital balance without regard to normal drawings. Each partner draws $5,000 in cash from the business every quarter. Any withdrawal in excess of that will be accounted for as a direct reduction of the partner’s capital balance. On March 1, 2021, when the partnership tax return for 2020 was completed, Jerry’s capital account was credited for his share of 2020 profit of $120,000.Jerry withdrew $5,000 quarterly, beginning March 31st.On September 1, Jerry’s capital account was credited with a special bonus of $60,000 for business he brought to the partnership. What amount of interest will be attributed to Jerry for the year 2021 that will go toward his profit distribution for the year?

What must be shown in order to establish an award of punitive damages in a medical malpractice case?  Explain.  Provide an example of a factual situation which would support punitive damages in a medical malpractice case.

Although records retention policies vary depending on the type of record, the American Hospital Association recommends retaining medical records for at least how long?

A local partnership was in the process of liquidating and reported the following Capital account balances:     Justice, capital (40% share of all profits and losses) $ 23,000   Zobart, capital (35%)   22,000   Douglass, capital (25%)   (14,000 )   Douglass indicated that the $14,000 deficit would be covered by a forthcoming contribution. However, the two remaining partners asked to receive the $31,000 that was then in the cash account.How much of this money should Zobart receive?              A)    $15,467.              B)    $14,467.            C)    $17,333.            D)    $15,633.            E)    $15,867.             

Goodman, Pinkman, and White formed a partnership on January 1, 2020, and made capital contributions of $125,000 (Goodman), $175,000 (Pinkman), and $250,000 (White), respectively. With respect to the division of income, they agreed to the following: (1) interest of an amount equal to 10% of the that partner’s beginning capital balance for the year; (2) annual compensation of $15,000 to Pinkman; and (3) the remainder of the income or loss to be split among the partners in the following percentages: (a) 20% for Goodman; (b) 40% for Pinkman; and (c) 40% for White. Net income was $200,000 in 2020 and $240,000 in 2021. Each partner withdrew $1,500 for personal use every month during 2020 and 2021.What was White’s total share of net income for 2020?

If the demand for cigarettes is inelastic,

The Keller, Long, and Mason partnership had the following balance sheet just before entering liquidation:         Cash $ 115,000   Liabilities $ 45,000 Noncash assets   230,000   Keller, Capital   100,000         Long, Capital   70,000         Mason, Capital   130,000 Total $ 345,000   Total $ 345,000   Keller, Long, and Mason share profits and losses in a ratio of 2:4:4.Assuming noncash assets were sold for $70,000 and liquidation expenses in the amount of $18,500 were incurred, how much will each partner receive in the liquidation?     Keller Long Mason A) $ 14,000   $ 28,000   $ 28,000   B) $ 37,000   $ 74,000   $ 74,000   C) $ 63,833   $ 0   $ 57,667   D) $ 0   $ 0   $ 121,500   E) $ 57,833   $ 12,000   $ 51,667                             A)    Option A.                        B)    Option B.            C)    Option C.            D)    Option D.            E)    Option E.

Microsoft Internet Explorer (IE), Mozilla Firefox, Google Chrome, Apple Safari, and Opera are examples of _____.

P, L, and O are partners with capital balances of $50,000, $30,000 and $20,000 and who share in the profit and loss of the PLO partnership 30%, 20%, and 50%, respectively, when they agree to admit C for a 20% interest.C contributes $10,000 to the partnership and the goodwill method is used.What will be the result of the goodwill calculation?