Exercise 12-15 a-b foss, albertson, and espinosa are partners who share profits and losses 50%, 30%, and 20%, respectively. their capital balances are $117,000, $55,000, and $32,000, respectively. assume garrett joins the partnership by investing $81,600 for a 25% interest with bonuses to the existing partners. prepare the journal entry to record his investment. (credit account titles are automatically indented when amount is entered. do not indent manually.)

Suzanna decided not to pay federal income tax, saying that paying federal income tax is optional. describe two possible consequences of suzanna’s decision

Afreelance​ singer-songwriter is planning the restoration of a recently purchased civil​ war-era farmhouse. while he professes an enjoyment​ of, and talent in the construction​ trades, the theory of comparative advantage implies that a. the value of what he imports​ (in this​ case, professional contractor​ services) must equal the value of what he exports​ (songs). b. he should concentrate on the restoration work since his​ out-of-pocket costs will be much lower than if he hires professionals. c. ​self-sufficiency is​ advantageous, hence he should split his time between music and construction. d. the income lost while away from music will likely exceed the savings realized by doing the work​ himself, thus, he should hire professionals to do the restoration work. e. he ought to do as much of the work himself as possible since imports​ (in this​ case, professional contractor​ services) should always be restricted to those things that cannot be done internall

Consider 8.5 percent swiss franc/u.s. dollar dual-currency bonds that pay $666.67 at maturity per sf1,000 of par value. it sells at par. what is the implicit sf/$ exchange rate at maturity? will the investor be better or worse off at maturity if the actual sf/$ exchange rate is sf1.35/$1.00