Compute for the net income the partnership

Assignment Help Financial Accounting

Reference no: EM13134878

Maria is a partner in X partnership.She has a 30% share in profits and losses.maria's capital balance decreased by 1200000during 2011. During 2011maria made a direct withdrawal from her capital account amounting to 2600000and invested cash of 500000. Compute for the net income the partnership for 2011

Reference no: EM13134878

Questions Cloud

Describe several ways the cfo organization : The difference between the actual value and the projected value is called data dispersion. Please describe several ways the CFO organization can use to mitigate the data dispersion risks.

Find probability that drivers were wearing their seat belts : A random sample of 700 drivers has been taken. What is the probability that between 538 and 546 of the drivers were wearing their seat belts?

Description of mathematics-coordinate geometry : Show that the points A(4, 1), B(2, -3), C(0, 3) cannot form an equilateral triangle. Draw the graph of the straight line 3x ?4y = 12. Find the equation of a line parallel to the x- axis and passing through the point (5, 7).

What is the ending balance of goods in process inventory : The production department started the month with the beginning goods in process inventory of $350,000. During the month, it was assigned the following costs: direct materials, $192,000; direct labor, $90,000; overhead applied at the rate of 30% of..

Compute for the net income the partnership : During 2011maria made a direct withdrawal from her capital account amounting to 2600000and invested cash of 500000. Compute for the net income the partnership for 2011

Deduction on her individual tax return : Dawn Adams owns 60 percent of a calendar-year S corporation during 2008. Her stock basis on December 31, 2008, is $17,000, and her debt basis is $2,000. If the S corporation incurs a $48,000 loss for 2009, what amount may Ms. Adams deduct on her i..

What is the budgeted dollar amount of merchandise purchases : What is the budgeted dollar amount of merchandise purchases for November?

Prescribe specific auditing procedures to detect fraud : Prescribe specific auditing procedures to detect fraud concerning inventories and accounts receivable of companies engaged in interstate commerce.

Find the best point estimate of the mean : The standard deviation of the sample is 5. find the best point estimate of the mean. find the 95% condidence interval of the mean score for all golfers.

User Account

All Pages