Wright, bell, and edison are partners and share income in a 2: 5: 3 ratio. the partnership's capital balances are as follows: wright $33,000, bell $27,000, and edison $40,000. edison decides to withdraw from the partnership, and the partners agree not to revalue the assets upon edison's retirement. the journal entry to record edison's june 1 withdrawal from the partnership if edison sells his interest to whitney for $45,000 after the two partners approve whitney as partner is:

debit edison, capital $45,000; credit whitney, capital $45,000

debit edison, capital $40,000; credit cash $40,000.

debit edison, capital $40,000; debit wright, capital $2,500; debit bell, capital $2,500; credit whitney, capital $45,000

debit edison, capital $40,000; credit whitney, capital $40,000

debit edison, capital $40,000; debit cash $5,000; credit whitney, capital $45,000.

What is the most important factor that affects the value of a company? a) cash flow b) earnings c) supply and demand d) number of employees

The market for corn in country a is highly competitive. at the current market price of $5/bushel there is a shortage of 100,000 bushels of corn in this country. media reports claim that the price of corn will rise drastically in the near future. according to these reports, the neighboring country b had witnessed a similar situation recently. at the same price, the shortage in country b was also 100,000 bushels and eventually the equilibrium price in b went up to $10/bushel. both countries are known to have equal number of corn producers and the market supply of corn is identical at all prices. this, combined with the fact that consumers in the two countries also have similar tastes and preferences, led the media to conclude that the price of corn in country a would soon be as high as $10/bushel. the new equilibrium price turns out to be below $10/bushel, what inferences can be drawn?

9. tax types: taxes are classified based on whether they are applied directly to income, called direct taxes, or to some other measurable performance characteristic of the firm, called indirect taxes. identify each of the following as a “direct tax,” an “indirect tax,” or something else: a. corporate income tax paid by a japanese subsidiary on its operating income b. royalties paid to saudi arabia for oil extracted and shipped to world markets c. interest received by a u.s. parent on bank deposits held in london d. interest received by a u.s. parent on a loan to a subsidiary in mexico e. principal repayment received by u.s. parent from belgium on a loan to a wholly owned subsidiary in belgium f. excise tax paid on cigarettes manufactured and sold within the united states g. property taxes paid on the corporate headquarters building in seattle h. a direct contribution to the international committee of the red cross for refugee relief i. deferred income tax, shown as a deduction on the u.s. parent’s consolidated income tax j. withholding taxes withheld by germany on dividends paid to a united kingdom parent corporation