Reference no: EM132846731
Question - Barney, Betty, and Rubble are partners in a business that is in the process of liquidation. On January 1, 2021, the books show the balances indicated:
Cash Inventory Supplies 25,000
Barney Capital 72,000
Betty Capital 18,000
Rubble Capital 72,000 28,000 15,000
-The partners have equal shares in profits and losses.
-The cash is distributed to partners on January 1, 2021.
-Inventory and supplies are sold for a lump-sum price of $81,000 on February 9, 2021.
-Cash on hand is distributed to the partners in final liquidation of the business on February 10, 2021.
Required -
1) Compute the amount of cash distributed to the partners on January 1, 2021.
2) Compute the amount of cash distributed to the partners on February 10, 2021.
|
How slavery was treated in the seventeenth century
: How slavery was treated in the seventeenth century by discussing the law, customs, and liberties extended to slaves. What contributed to the hardening.
|
|
Difference between cash flow statement and cash budget
: What is the difference between a Cash Flow Statement and a Cash Budget? Include a description of the types of information in each document
|
|
Why tobacco planters in the chesapeake region came to rely
: Why tobacco planters in the Chesapeake region came to rely on African slaves rather than European indentured servants over the course of the seventeenth
|
|
What reinforced the american identity
: What factors contributed to this dual identity? What reinforced British identity? What reinforced the American identity? Be sure to discuss the political.
|
|
Compute the amount of cash distributed to the partners
: Inventory and supplies are sold for a lump-sum price of $81,000 on February 9, 2021. Compute the amount of cash distributed to the partners
|
|
Compare the chesapeake and new england colonies
: Explore the various reasons for the colonists' emigrating to the New World, their economies, gender roles, demographics, religion, and relations with the Indian
|
|
How did puritans define liberty and freedom
: John Winthrop distinguished between natural and moral liberty. What was difference? How did moral liberty work, and how did Puritans define liberty and freedom?
|
|
How do differing perceptions of land and liberty fit
: Explain the reasons behind the various conflicts between the English and the Indians. How do differing perceptions of land and liberty fit into the story?
|
|
Calculate the earnings per share on common shares
: Assume that Crane Inc. issued a 18% stock dividend on September 1, 2020. Calculate the earnings per share on common shares for 2020
|