Solution-Calculate powers capital in the new partnership

Calculate powers capital in the new partnership

Assignment Help Accounting Basics

Reference no: EM13527449

Accounting for the admission of a new partner

East and Hunter have partner capital balances of $227,000 and $173,000, respectively. East gets 70% of profits and losses, and Hunter gets 30%. Assume Power invests $100,000 to acquire a 25% interest in the new partnership of East Hunter.

Requirements

1. Calculate Power's capital in the new partnership.

2. Journalize the partnership's receipt of cash from Power.

Reference no: EM13527449

Questions Cloud

What is the velocity of each particle : A proton and an electron are both accelerated through a potential difference of 7200V. What is the velocity of each particle

Journalize the sale of the noncash assets : Journalize the sale of the noncash assets for $25,000, the payment of the liabilities, and the payment to the partners and Accounting for the liquidation of a partnership

Find at what rate is heat flowing out through the walls : A college professor keeps 0.25 L (0.00025 m^3) of hot coffee in a thick styrofoam container. at what rate is heat flowing out through the walls of the container

A differentiable function on an interval of the form : Let f be a differentiable function on an interval of the form (a, +∞). Prove that if there is a number r not equal to 0 such that limx→∞(rf′(x) + f(x)) = L is finite, then limx→∞ f′(x) = 0 and limx→∞ f(x) = L. Hint: apply L'Hˆopital's Rule to [e..

Calculate powers capital in the new partnership : Calculate Powers capital in the new partnership and journalize the partnership's receipt of cash from Power.

What force must this seat exert on him during liftoff : At launch, the Space Shuttle weighs 4.5 million pounds (2.04 million kilograms). As the vehicle starts from rest on the launch pad, what force must this seat exert on him during liftoff

The least upper bound of the set : Prove that the upper sum U(f, P) for a partition of [a, b] and a bounded function f on [a, b] is the least upper bound of the set of all Riemann sums for f and P.

Explain the half-life of plutonium-239 : The half-life of plutonium-239 is 24 110 yrs. Of an original mass of 100.g, how much plutonium-239 remains after 96 440 yrs?

What was the change in its internal energy : Suppose that 0.0025 m^3 of gas in a cylinder is compressed by a piston down to 0.001 m^3 while 675 J of heat flows out of the gas. what was the change in its internal energy

User Account

All Pages

Calculate powers capital in the new partnership

Reference no: EM13527449

Reference no: EM13527449

Questions Cloud

Reviews

Write a Review

Accounting Basics Questions & Answers

How much control does fed have over this longer real rate

Coures:- fundamental accounting principles

Accounting problems

Theory of interest - term structure of interest rates

Write a report on internal controls

Prepare the bank reconciliation for company

Cost-benefit analysis

Theory of interest

Liquidity and profitability

What is the expected risk premium on the portfolio

Simple interest and compound interest

Capm and venture capital

Assured A++ Grade

Academics

Major Subjects

Majors

Get In Touch

TERMS & POLICIES

HELP & SUPPORT