Sam Sung and Mitchell Vaughn Are Partners,and Each Has a Capital

question 54

Multiple Choice

Sam Sung and Mitchell Vaughn are partners,and each has a capital balance of $50,000.To gain admission to the partnership,Amanda Scott pays $35,000 directly to Vaughn for one-half of his equity.Scott's capital account will reflect an equity interest of:

• A) $25,000.
• B) $35,000.
• C) $33,333.
• D) $33,750.

Understand the indicators of ecological health and environmental change.

Identify and characterize different species types and their roles in ecosystems.

Recognize factors affecting biodiversity and species populations.

Understand the concept of keystone, indicator, native, and non-native species and their impacts.

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Definitions:

Months

Units of time used in accounting and financial contexts to represent periods or durations, often for reporting, planning, or measurement purposes.

Promissory Note

A financial instrument that contains a written promise by one party to pay another party a definite sum of money either on demand or at a specified future date.

Maturity Date

The date on which a financial obligation must be repaid in full.

Promissory Note

A financial document in which one party promises to pay another party a definite sum of money at a future date or on demand.