User Account

All Pages

Compute El initial capital balance in the partnership

Assignment Help Accounting Basics
Reference no: EM132774480

Question - Jor-El Partnership was formed on January 2, 2020. Under the partnership agreement, each partner has an equal initial capital balance accounted for under the goodwill method. Partnership net income and loss is allocated 60% to Jor and 40% to El. To form the partnership, Jor contributed cash of $60,000 while El contributed $20,000 in cash. Compute El's initial capital balance in the partnership?

A. $20,000.

B. $25,000.

C. $60,000.

D. $40,000.

Reference no: EM132774480

Questions Cloud

Make the pro-forma income statement in contribution format : Make the pro-forma income statement in contribution format that would appear in Erick's flexible budget (based on the actual level of activity)
Avoid making proposed mistakes : Recommend two strategies that they may use in order to avoid making the proposed mistakes
What laws do you feel should be private decisions : Do you believe the state should regulate behavior that arguably doesn't hurt anyone else (for example - laws regarding the wearing of motorcycle helmets.
What is the amount of deduction for g-g costs incurred : What is the amount of the deduction for G&G costs incurred for Lease B in the current year? Company Z incurred $45,000 in G&G cost for work performed on 100,000
Compute El initial capital balance in the partnership : To form the partnership, Jor contributed cash of $60,000 while El contributed $20,000 in cash. Compute El's initial capital balance in the partnership
Trending based on improvements : Students you can select information from an organization around improvements to chart/graph trending based on improvements
Determine whether jaxon can testify against hand : Prior to beginning your written assignment, read the Fifth Amendment article, the Competency to Waive Fifth Amendment Rights during Custodial Interview article.
Make a journal for the transactions : On April 16, 2020, the management of the company distributed shares which was announced on March 1, 2020. Make a journal for the above transactions
Describe the limitations of crime scene reconstruction : Crime scene reconstruction depends largely on the efficacy of the crime scene process and the accuracy of data (measurements, angles, location of evidence.

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