User Account

All Pages

Calculate the ending capital balances for Shawn and Dan

Assignment Help Accounting Basics
Reference no: EM132579434

Question - Shawn invests $125,000 cash and $70,000 Equipment to form partnership of NH CableSource. The Equipment has a notes payable of $50,000. Dan invests $80,000 cash to Nh CableSource. Show the entries to form the partnership. The allocation agreement for income is salary Shawn $35,000, Dan $25,000, annual interest allowance of %15 percent of partner beginning capital balance and the rest of income or loss divided equally. During the year Shawn withdraws $15,000 cash and Dan withdraws $10,000 cash. Net Income for the year is $125,000. Calculate the ending capital balances for Shawn and Dan.

Reference no: EM132579434

Questions Cloud

How to explain the complementary role in productivity : How to Explain the complementary role in productivity and wastivity in effective utilization of resources in textile sector of pakistan
Metabolize the macromolecules of carbohydrates : How does the kidney metabolize the macromolecules of carbohydrates, proteins and fats
Population survive and reproduce : If all individuals in a population survive and reproduce equally well is natural selection occurring? Why or why not?
Carbohydrates made from g3p molecules : What are 3 carbohydrates made from G3P molecules?
Calculate the ending capital balances for Shawn and Dan : Shawn invests $125,000 cash and $70,000 Equipment to form partnership of NH CableSource. Calculate the ending capital balances for Shawn and Dan
Mutation results in constant beta-galactosidase : i) the IW mutation results in constant beta-galactosidase and permease production, even in the absence of lactose.
How would the company be affected : On the last day of the fiscal year, a co-worker asks you to cut a check for $2,000, How would the company be affected if the check is written
Treatment of asthma exacerbation and copd exacerbation : What is the difference in treatment of asthma exacerbation and COPD exacerbation?
Find what annual increase in income would firm realize : What annual increase in income would your firm realize if the increase in cash could be invested at 7.5 percent, If this value could be reduced to 50 days?

Reviews

Write a Review

Accounting Basics Questions & Answers

  How much control does fed have over this longer real rate

Hubbard argues that the Fed can control the Fed funds rate, but the interest rate that is important for the economy is a longer-term real rate of interest.   How much control does the Fed have over this longer real rate?

  Coures:- fundamental accounting principles

Coures:- Fundamental Accounting Principles: - Explain the goals and uses of special journals.

  Accounting problems

Accounting problems,  Draw a detailed timeline incorporating the dividends, calculate    the exact Payback Period  b)   the discounted Payback Period. the IRR,  the NPV, the Profitability Index.

  Theory of interest - term structure of interest rates

Term Structure of Interest Rates

  Write a report on internal controls

Write a report on Internal Controls

  Prepare the bank reconciliation for company

Prepare the bank reconciliation for company.

  Cost-benefit analysis

Create a cost-benefit analysis to evaluate the project

  Theory of interest

Theory of Interest: NPV, IRR, Nominal and Real, Amortization, Sinking Fund, TWRR, DWRR

  Liquidity and profitability

Distinguish between liquidity and profitability.

  What is the expected risk premium on the portfolio

Your Corp, Inc. has a corporate tax rate of 35%. Please calculate their after tax cost of debt expressed as a percentage. Your Corp, Inc. has several outstanding bond issues all of which require semiannual interest payments.

  Simple interest and compound interest

Simple Interest, Compound interest, discount rate, force of interest, AV, PV

  Capm and venture capital

CAPM and Venture Capital

Free Assignment Quote

Assured A++ Grade

Get guaranteed satisfaction & time on delivery in every assignment order you paid with us! We ensure premium quality solution document along with free turntin report!

Submit Assignment

Academics

Major Subjects

Majors

Get In Touch

whatsapp: +1-415-670-9521

Phone: +1-415-670-9521

Email: [email protected]

TERMS & POLICIES

HELP & SUPPORT

All rights reserved! Copyrights ©2019-2020 ExpertsMind IT Educational Pvt Ltd