Already have an account? Get multiple benefits of using own account!
Login in your account..!
Remember me
Don't have an account? Create your account in less than a minutes,
Forgot password? how can I recover my password now!
Enter right registered email to receive password!
Accounting for the admission of a new partner
Hayley Hollis is admitted to the partnership of Rose & Novak. Prior to her admission, the partnership books show Greta Rose's capital balance at $170,000 and Chris Novak's at $85,000.
Requirements
1. Compute each partner's equity on the books of the new partnership under the following plans:
a. Hollis pays $95,000 for Novak's equity. Hollis pays Novak directly.
b. Hollis invests $85,000 to acquire a 1/4 interest in the partnership.
c. Hollis invests $105,000 to acquire a 1/4 interest in the partnership.
2. Make the journal entries for admitting the partner under plans a, b, and c.
Identify characteristics of a corporation, record issuance of stock, and illustrate retained earnings transactions and prepare and analyze the income statement, balance sheet, and statement of cash flows
Product Gallons Sales value Cost after Final - Number of gallons and round percentages to one decimal place i.e. 25.5% or .255.
In addition, the income statement showed a gain of $12,000 from the sale of investments. Reconcile a net income of $112,000 to net cash flow from operating activities.
If a product requires 7,000 machine hours, Evaluate manufacturing overhead will be allocated to this product
Changing the companies incorporated in combined financial statements and change in both acceptable and estimate accounting principles
Prepare the general journal entries that should be made in 2010 and 2011 related to the above plan by Paige Candy.
axis corporations inventory transactions for the present monthjune 1 balance 300 units 65 each june 16 sale 400 units
questiondemonstrated that the student has grasped the accounting concepts. the paper should encompass either when
What is the total estimated manufacturing cost of the by-product using the reversal cost method?
Calculate the Internal Rate of return and explain the changes that possibly took place - Calculate the contribution margin ratio and thereafter use this ratio to determine the sales value required to achieve an annual operating profit of R1200 000.
Current ratio. The following data was taken from the 2008 and 2007 financial statements of Fancy Fish Stores Inc. Calculate the current ratio for each year. What happened to the company"s liquidity from 2007 to 2008?
safety seats co. recorded operating data for its shoe division for the year. the companys desired roi is
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!
whatsapp: +1-415-670-9521
Phone: +1-415-670-9521
Email: [email protected]
All rights reserved! Copyrights ©2019-2020 ExpertsMind IT Educational Pvt Ltd