Partner A earns $59,000 from a partnership. Partner B earns $48,000 but withdraws only $40,000. How much must Partner B report in his income tax return as income?

Powell company began the 2018 accounting period with $40,000 cash, $86,000 inventory, $60,000 common stock, and $66,000 retained earnings. during 2018, powell experienced the following events: sold merchandise costing $58,000 for $99,500 on account to prentise furniture store. delivered the goods to prentise under terms fob destination. freight costs were $900 cash. received returned goods from prentise. the goods cost powell $4,000 and were sold to prentise for $5,900. granted prentise a $3,000 allowance for damaged goods that prentise agreed to keep. collected partial payment of $81,000 cash from accounts receivable. required record the events in a statements model shown below. prepare an income statement, a balance sheet, and a statement of cash flows. why would prentise agree to keep the damaged goods?

You are to receive five gold coins from your great uncle as an incentive to study hard. the coins were originally purchased in 1982. your great uncle will deliver the coins the week after finals (assuming your grades are "acceptable"). the amount your great uncle paid for the coins is a(n): indirect cost. overhead cost. opportunity cost. sunk cost.

The cook corporation has two divisions--east and west. the divisions have the following revenues and expenses: east westsales $ 603,000 $ 506,000 variable costs 231,000 300,000 traceable fixed costs 151,500 192,000 allocated common corporate costs 128,600 156,000 net operating income (loss) $ 91,900 $ (142,000 )the management of cook is considering the elimination of the west division. if the west division were eliminated, its traceable fixed costs could be avoided. total common corporate costs would be unaffected by this decision. given these data, the elimination of the west division would result in an overall company net operating income (loss) of: multiple choice$91,900$(64,100)$(142,000)$(5 0,100)