Use the lone divider method to solve the following problem.5. There are 3 investors dividing land worth $800,000. Each investor's value in thousandsfor each of the three pieces of the land is shown in the table. James is the divider. Whichpiece does each person receive and do they receive a fair share using the lone dividermethod?Piece 1Piece 2Piece 3Piece 4KathyJames (Divider)150200170280200280200200200Simone150120250Marcus32510030075 a.) Which pieces for Kathy and Simone do they consider their fair share?Kathy:Simone:Marcus:| Show your work or explain your reasoning here:b.) What piece does each person receive?Kathy:Simone:James:Marcus:| Show your work or explain your reasoning here:c.) Do they receive a fair share? Who receives a fair share?

The Lone Divider method works for any numbers of participants. There is one participant called…

Use the lone divider method to solve the following problem. 5. There are 3 investors dividing land worth $800,000. Each investor's value in thousands for each of the three pieces of the land is shown in the table. James is the divider. Which piece does each person receive and do they receive a fair share using the lone divider method? Piece 1 Piece 2 Piece 3 Piece 4 Kathy James (Divider) Simone Marcus 150 200 170 280 200 280 325 200 150 100 200 120 200 250 75 300

Use the lone divider method to solve the following problem. 5. There are 3 investors dividing land worth $800,000. Each investor's value in thousands for each of the three pieces of the land is shown in the table. James is the divider. Which piece does each person receive and do they receive a fair share using the lone divider method? Piece 1 Piece 2 Piece 3 Piece 4 Kathy James (Divider) Simone Marcus 150 200 170 280 200 280 325 200 150 100 200 120 200 250 75 300

FINANCIAL ACCOUNTING

10th Edition

ISBN:9781259964947

Author:Libby

Publisher:Libby

Chapter1: Financial Statements And Business Decisions

Section: Chapter Questions

Problem 1Q

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A grandmother leaves all of her assets to a charity except three items. She leaves her house, a car, and a diamond ring to her 3 grandchildren. Divide up the assets using the Sealed Bids method. Each grandchild honestly and independently places the following bids in thousands of dollars. How much does each grandchild receive in the final settlement? Grandchild 1 Grandchild 2 Grandchild 3 House 160 171 127 Car 9. 10 Ring 6. 4 Grandchild 1 receives $112,000 Grandchild 2 receives house and ring and pays $230,000 a Grandchild 3 receives the car and receives $74,000 Grandchild 1 receives $126,666.67 Grandchild 2 receives house and receives 215,333.33 Grandchild 3 receives the car and receives $74,000 Grandchild 1 receives the ring and receives $120,000 Grandchild 2 receives house and pays 222,000 Grandchild 3 receives the car and receives $82,000 Grandchild 1 receives $126,666.67 Grandchild 2 receives house and ring and pays $215,333.33 Grandchild 3 receives the car and receives $88,666.67…
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