User Account

All Pages

Compute the balance of Dino capital

Assignment Help Financial Accounting
Reference no: EM132780937

Question - The partnership of Doctor, Dino, and Dolor has reached an impasse as Dolor is no longer willing to contribute the amount of time and effort to the partnership that he has previously given. The partners share profits and losses in the ratio of 3:4:4, respectively. The partners have the following capital balances prior to Dolor's withdrawal from the partnership: Doctor - P45,000; Dino - P35,000; Dolor - P25,000. If Dino purchases Dolor's interest for P32,000 and no asset revaluation is recorded, compute the balance of Dino capital immediately after the withdrawal of Dolor?

Reference no: EM132780937

Questions Cloud

Implement a loop that iterates over the string : Implement a loop that iterates over the string. Load the individual characters using lb and Animal identification using a bloom filter
Compute mr earl agi : Compute Mr. Earl's AGI. All DB's stock qualified as Section 1244 stock when it was issued. This year, Mr. Earl sold all 1,500 DB shares for $16 per share
What effects does social loafing have on a group : What effects does social loafing have on a group? What steps can be taken to minimize social loafing? Describe the difference between a group and a team.
What is the basis i the land receives : The land had a basis to Tea Company of $617,500. What amount of gain does Red Blossom recognize in the exchange and what is the basis i the land it receives?
Compute the balance of Dino capital : Dolor's interest for P32,000 and no asset revaluation is recorded, compute the balance of Dino capital immediately after the withdrawal of Dolor
What amount of gain does simone recognize in the exchange : Simone transferred 100%, What amount of gain does Simone recognize in the exchange and what is her basis in the Plum stock she receives?
What amount of income from investment : What amount of income from investment should crown company assuming it does not hold any interest in the preference shares of royal company
What amount of loss does julian recognize in the exchange : Julian transferred 100 percent of his stock, What amount of loss does Julian recognize in the exchange and what is his basis in the Apricot stock he received?
What type of availability would you recommend and why : From the end of chapter 13 in your Virtualization textbook: "Your company's data center has suffered a recent power outage, and corporate applications were.

Reviews

Write a Review

Financial Accounting Questions & Answers

  What proposed relaxation of credit standards would result

Based on a 360- day year, the proposed relaxation of credit standards would result in an expected increase in the accounts receivable balance of

  Compute the final contract price

At the time of delivery the index was 132.0.  Compute the final contract price?

  Find the budgeted total sales for april is

Find The budgeted total sales for April is. Production and sales estimates for April are as follows Estimated inventory (units), April 19,000

  Journal entry to record accrued salaries would include

According to a summary of the payroll of Scotland Company, $450,000 was subject to the 7.0% social security tax and $500,000 was subject to the 1.5% Medicare tax. Federal income tax withheld was $98,000. Also, $15,000 was subject to state (4.2%) and ..

  In relation to adjusting entries and the estimates

In relation to adjusting entries and the estimates used in them. How can you be assured that financial statements are accurate? What steps can be taken to make sure that the estimates are as accurate as possible?

  What is the sunk cost in this situation

Wilson Company is considering replacing equipment which originally cost $500,000 and which has $460,000 accumulated depreciation to date. A new machine will cost $790,000. What is the sunk cost in this situation?

  Journalize the entries to record the investments of keene

Journalize the entries to record the investments of Keene and McKee in the partnership accounts. Prepare a balance sheet as of March 1, 2014, the date of formation of the partnership of Keene and McKee.

  Discuss the dimensions which is important to you

Describe the style of grandparenting you will make and the dimensions which is important to you

  Compute the prime cost incurred during july

Prepare a statement of cost of goods manufactured for the month of July and prepare a schedule to compute the prime cost incurred during July.

  Investment income not given cost of goods sold

Wing are several figures reported for Allister and Barone as of December 31, 2015: Allister Barone Inventory $ 530,000 $ 330,000 Sales 1,060,000 860,000 Investment income not given Cost of goods sold 530,000 430,000 Operating expenses 245,000 315,000..

  Journal entries for estimated bad debts

Journal entries for estimated bad debts provision and provide the entry for estimated bad debts assuming that the allowance is to provide for doubtful accounts on the basis of (a) 4% gross accounts receivable and (b) 1% of net sales.

  The activity variance for plane operating costs

Thomason Air uses two measures of activity, flights and passengers, in the cost formulas in its budgets and performance reports. The cost formula for plane operating costs is $36,300 per month plus $2,070 per flight plus $1 per passenger. The activit..

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