Compute the profit and loss sharing or remaining balance

Assignment Help Financial Accounting
Reference no: EM132748142

Question - ABC partnership profit sharing A 60- B40 C industrial partner. 10% salary. Total Capital 1M Bonus A 20,000 B 10,000 Net income 200,000. Loss 100,000 Compute for profit and loss sharing or remaining balance. 2. DEF partnership profits and loss based on their capital contribution. Total capitalization 1,500,000. D-800,000 E- 500,000 F- 200,000 as industrial partner with salary of 5%. Interest D- 15% E 20%. Net income P600,000, Net loss 200,000 . Compute for profit and loss sharing or remaining balance, 3. XYZ partnership sharing of profits and loss X- 1/3 Y 2/3. Total Capital 2M. Z- Industrial partners 20% salary. Interest X- 10% Y-15%.. Bonus X-25,000. Y- 30,000. Net income 800,000 , Net Loss 300,000.

Required - Compute the profit and loss sharing or remaining balance of each number 1-3. Need to prepare in tables for profits and loss. You have to submit 6 tables in all 3- profit and 3 losses.

Reference no: EM132748142

Questions Cloud

What is the amount collected in this month : Total Sales is $80,000 in a month. 30% of this is on Credit. What is the amount collected in this month
Complete form on to report the gains or losses : Sale of land on April 19 for $125,000. The land cost $132,500 when purchased on February 1, 2008. Complete Form on to report the gains or losses
What amount was in his RRSP at the end of this period : What amount was in his RRSP at the end of this period, if the plan earned 10% compounded quarterly over the entire 8½ years
How much is the estimated dividend for the next year : Based on this information, how much is the estimated dividend for the next year (D1) for use in the dividend growth model
Compute the profit and loss sharing or remaining balance : Compute the profit and loss sharing or remaining balance of each number 1-3. Need to prepare in tables for profits and loss
Complete the table for absorption and variable costing : The fixed overhead rate under absorption costing is based on a practical capacity of 130,000 units per year. Complete table for absorption and variable costing
What is the current breakeven point in revenues : The weber Company manufactures and sells pens. Currently, 5,500,000 units are sold per year a $0.60 per unit. What is the current breakeven point in revenues
Compute the direct materials price and quantity variances : Direct materials standard (4 lbs. @ $3 per lb.) $12 per finished unit. Compute the direct materials price and quantity variances
How do these relate to key OB concepts and theories : What are the people issues and how do these relate to key OB concepts and theories?

Reviews

Write a Review

Financial Accounting Questions & Answers

  At what price would gorga be indifferent to roseland offer

By how much would Gorga's profits change if 15,000 of part QT34 are purchased from Roseland? At what price would Gorga be indifferent to Roseland's offer?

  Employs a normal job order costing system

Antique Inc. employs a normal job order costing system, using direct labor cost to apply manufacturing overhead. The following information is available for 2012 :

  What is the dollar amount of taxes paid

Depreciation expense was $13,000 and interest expense for the year was $12,000. The firm tax rate is 27 percent. What is the dollar amount of taxes paid in 2015

  What is the optimal economic life

A replacement piece of equipment can be purchased for the machine above at a first cost of $25,000. Annual maintenance costs the first year are expected to be $1000 and increase by $300 each year. If this equipment were to be sold after 1 year, incom..

  How to prepare a balance sheet for morton immediately

Morton Co. paid cash of $ 178,000 to acquire Zink Company's net assets on February 1, 2013. The balance sheet data for the two companies and fair value information for Zink immediately before the business combination were.

  What amounts for softplus would appear in pantechs december

Software was undervalued by $30,000, what amounts for SoftPlus would appear in PanTech's December 31, 2017, consolidated financial statements?

  What is initial selling price needed to obtain target profit

Sam Company has predicted cost, What is the initial selling price needed to obtain a target profit of $25,000 using the variable cost markup method?

  What is the portfolio beta

Your investment club has only two stocks in its portfolio; $35,000 is invested in a stock with a beta of 0.7, What is the portfolio beta

  Is motorola approach to quality more closely aligned

Define the process for doing the work. Mistake-proof the process and elmiminate wasted effort. Ensure continuous improvement by measuring, analyzing, and controlling the improved process. Is Motorola's approach to quality more closely aligned with TQ..

  Analyze major impact to the users of accounting statements

Analyze the major impact to the users of accounting statements if the statements are prepared in error. Explain the major advantages of a business owner with minimal accounting experience maintaining the company's book.

  Illustrate what is amount and character of gain long

Illustrate what is the amount and character of the gain Longworth will recognize on the sale if the sale proceeds were decreased to $15,000?

  Compute the new cash provided in operating activities

decrease in accounts receivable, a $15,750 increase in accounts payable, and a $12,500 decrease in wages payable. Compute the new cash provided (used) in operating activities using the indirect method

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!

All rights reserved! Copyrights ©2019-2020 ExpertsMind IT Educational Pvt Ltd