Identify each of the following categories from a hunting and…

Identify each of the following categories from a hunting and guest services enterprise budget as Revenue, Operating Expense, Ownership Expense, or Not Relevant.   [Q1] — Interest on operating expenses [Q2] — Depreciation on bunkhouses [Q3] — Principle payments on operating loan [Q4] — Repairs of hay machinery [Q5] — Liability insurance  [Q6] — Feed for trail horses [Q7] — Fees collected from guiding hunters [Q8] — Groceries for guest meals

The capital account balances for Donald & Hanes LLP on Janua…

The capital account balances for Donald & Hanes LLP on January 1, 2021, were as follows: Donald, capital $ 200,000 Hanes, capital 100,000 Donald and Hanes shared net income and losses in the ratio of 3:2, respectively. The partners agreed to admit May to the partnership with a 35% interest in partnership capital and net income. May invested $100,000 cash, and no goodwill was recognized. What is the balance of May’s capital account after the new partnership is created?