User Account

All Pages

Compute what amount should a capital account change

Assignment Help Financial Accounting
Reference no: EM132743784

Problem 1: A, B and C are partners with average capital balances during 2019 of Php 360,000, Php 180,000 and Php 120,000, respectively. Partners receive 10% interest on their average capital balances. After deducting salaries of Php 90,000 to A and Php 60,000 to C the residual profit or loss is divided equally. In 2015 the partnership sustained a Php 99,000 loss before interest and salaries to partners. By what amount should A's capital account change?

a. Php 21,000 increase

b. Php 105,000 decrease

c. Php 33,000 decrease

d. Php 126,000 increase

Reference no: EM132743784

Questions Cloud

Record the general journal entries for the transactions : Read the description of following transactions that are required during the accounting period for Mario's Electronics. Sold $2,200 in merchandise on credit.
List the products of glycolysis : List the products of glycolysis. How many ATP molecules are produced and consumed by glycolysis? What effect does the presence of oxygen
Provide the journal entry to record the payroll tax expense : The payroll register of Heritage Co. indicates $4,200 of social security withheld. Provide the journal entry to record the payroll tax expense for the period
Clearly indicate the events of the cell cycle : Clearly indicate each of the events of the cell cycle including interphase, mitosis and cytokinesis, the details involved at each stage and their corresponding
Compute what amount should a capital account change : In 2015 the partnership sustained a Php 99,000 loss before interest and salaries to partners. By what amount should A's capital account change?
Examining the work of gregor mendel : Explain why you may show many of the same traits that you see in your parents. Include a Punnett square as part of your response.
How many years can pay for education : Sally received and invested $57,642, If her investment fund earns 2.95% compounded quarterly, for how many years can she pay for her education?
Determine the total compensation cost : Allied Paper Products, Inc., offers a restricted stock award plan to its vice presidents. On January 1, 2021, the company granted 20 million of its $1 par.
SEC4102 Security Fundamentals Assignment : SEC4102 Security Fundamentals Assignment Help and Solution, University of Bolton - Assessment Writing Service - Discuss knowledge of security concepts

Reviews

Write a Review

Financial Accounting Questions & Answers

  Financial statement analysis and preparation

Financial Statement Analysis and Preparation

  Shareholder of a company

Describe the ways that a person can become a shareholder of a company. Why Wal-Mart would split its stock?

  Financial and accounting principles

An understanding of financial and accounting principles can be a valuable tool for managers. While not all managers will find themselves calculating financial ratios or preparing annual financial data.

  Prepare a statement of cash flow using the direct method

Prepare a Statement of Cash Flow using the Direct Method and Prepare the Operations section of the Statement of Cash Flow using the Indirect Method.

  Financial accounting assignment

This assignment has one case study and two question apart from case study. Questions related to document Liquidation question and Company financial statements question - Torquay Limited

  Prepare general journal entries for goela

Prepare general journal entries for Goela Ltd

  Principles of financial accounting

Prepare the journal entry to record the acquisition of the assets.

  Prepare general journal entries to record the transactions

Prepare general journal entries to record the transactions, assuming use of the periodic inventory system

  Global reporting initiative

Compare the view espoused by the economist Milton Friedman about the social responsibilities of business with the views express by Stigler.

  Explain the iasb conceptual frameworks

Explain the IASB Conceptual Framework's perspective of users and their decisions.

  Determine the company''s financial statements

T he focus of the report is to determine the extent to which you are comfortable relying on the financial statements as presented by management .

  Computation of free cash flow

Computation of Free Cash Flow

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