Long-Term Partners, Pop, Ping, and Pam Have Capital Balances of $60,000

question 8

Essay

Long-term partners, Pop, Ping, and Pam have capital balances of $60,000, $45,000 and $30,000, respectively. They share in profits and losses 50%-to-30%-to-20%, respectively. All assets are valued fairly. Pam decides to retire from the partnership. Calculate the remaining partners' capital balances after the Pam withdrawal under the following situations:
a.Pam sells the interest to Ping for $25,000.
b.Pam sells the interest to the partnership for $25,000; bonus method is used
c.Pam sells the interest to the partnership for $40,000; goodwill attributable only to the exiting partner is recorded

Recognize the factors contributing to attraction and prejudice.

Learn about the social and psychological dynamics in helping behavior and altruism.

Identify the effects of social influence on behavior and decision making.

Distinguish between various social psychological theories related to aggression, attraction, and persuasion.

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Definitions:

Operant Conditioning

A method of learning that uses rewards and punishments for behavior to increase or decrease the likelihood of a behavior being repeated.

Cognition

The mental action or process of acquiring knowledge and understanding through thought, experience, and the senses.

Suprachiasmatic Nucleus

A small region of the brain in the hypothalamus responsible for controlling circadian rhythms.

Pineal Gland

A small endocrine gland in the brain that produces melatonin, a hormone that regulates sleep patterns.