Kendra, Cogley, and Mei share income and loss in a 3:2:1 ratio. The partners have decided to liquidate their partnership. On the day of liquidation, their balance sheet appears as follows. KENDRA, COGLEY, AND MEI Balance Sheet May 31 Assets Liabilities and Equity Cash $103,900 Accounts payable $258,000Inventory 537,600 Kendra, Capital 76,700Cogley, Capital 172,575Mei, Capital 134,225Total assets $641,500 Total liabilities and equity $641,500Required:For each of the following scenarios, complete the schedule allocating the gain or loss on the sale of inventory. Prepare journal entries to record the below transactions.(1) The inventory is sold for $608,400.(2) Inventory is sold for $469,200.(3) Inventory is sold for $358,800 and any partners with capital deficits pay in the number of their deficits.(4) Inventory is sold for $298,800 and the partners have no assets other than those invested in the partnership.

According to the u. s. census bureau (), the median household income in the united states was $23,618 in 1985, $34,076 in 1995, $46,326 in 2005, and $57,230 in 2015. in purchasing power terms, how did family income compare in each of those four years? you will need to know that the cpi (multiplied by 100, 1982–1984 = 100) was 107.6 in 1985, 152.4 in 1995, 195.3 in 2005, and 237.0 in 2015

Jamie lee is reviewing her finances one month later. she has provided the actual amounts paid below. use the cash budget table below to her identify the variances in her budget. each answer must have a value for the assignment to be complete. enter "0" for any unused categories. actual amounts income: monthly expenses: gross monthly salary $2,315 rent obligation $260 net monthly salary $1,740 utilities/electricity $130 savings allocation: utilities/water $10 regular savings $130 utilities/cable tv $155 rainy-day savings $20 food $160 entertainment: gas/maintenance $205 cake decorating class $90 credit card payment $25 movies with friends $50 car insurance $75 clothing $145 budgeted amounts assets: monthly expenses: checking account $1,850 rent obligation $225 emergency fund savings account $4,300 utilities/electricity $75 car $5,200 utilities/water $35 computer & ipad $1,100 utilities/cable tv $120 liabilities: food $115 student loan $6,600 gas/maintenance $95 credit card balance $1,000 credit card payment $45 income: car insurance $45 gross monthly salary $2,155 clothing $45 net monthly salary $1,580 entertainment: savings allocation: cake decorating class $90 regular savings $130 movies with friends $50 rainy day savings $20

Acompany using the perpetual inventory system purchased inventory worth $540,000 on account with credit terms of 2/15, n/45. defective inventory of $40,000 was returned 2 days later, and the accounts were appropriately adjusted. if the company paid the invoice 20 days later, the journal entry to record the payment would be