Create equal distributions of profits-losses to each partner

Assignment Help Financial Accounting
Reference no: EM131212845

Since a partnership does not necessarily have to create equal distributions of profits and losses to each partner, determine the best means to select the most equitable distribution, and select the method that you would use to allocate the partnership interest before you would consider becoming a partner. If the partnership did not work out, what provisions would be necessary to ensure that you receive a return of your original investment?

Reference no: EM131212845

Questions Cloud

Support price increase and without having operating income : The unit product costs at a normal level of 5,000 units per month and selling price of $90 are as follows: How much can advertising expense be spent to support the price increase and without having operating income fall below the current levels?
Determine per unit cost of goods sold and gross margin : ABC Company has the following data about its only product: Direct materials used $270,000 Direct labor $180,000 Indirect manufacturing fixed $130,000 Selling and administrative fixed $150,000 Indirect manufacturing variable $120,000 Selling and admin..
Classify the amounts into proper accounts : Cardinal Paz Corp. carries an account in its general ledger called Investments, which contained debits for investment purchases, and no credits, with the following descriptions. Prepare entries necessary to classify the amounts into proper accounts, ..
Maintain original break-even point then selling price unit : If fixed costs increased by 10% and management wanted to maintain the original break-even point then the selling price per unit would have to be increased to _____.
Create equal distributions of profits-losses to each partner : Since a partnership does not necessarily have to create equal distributions of profits and losses to each partner, determine the best means to select the most equitable distribution, and select the method that you would use to allocate the partnershi..
The chief factor that drives short term fluctuations : If you were to pick the single most important factor that drives the fluctuation in the short term stock market prices, what would that factor be, and why do you think that it is the chief factor that drives short term fluctuations?
What is partnership adjusted basis for property contributed : Kevin and Ronnie are forming the KR Partnership. Kevin contributes $600,000 cash and Ronnie contributes non-depreciable property with an adjusted basis of $400,000 and a fair market value of $750,000. What is Ronnie’s adjusted tax basis for his partn..
Prepare a contribution format income statement : Sales revenue $ 788,000 Cost of goods sold 328,500 Gross margin 459,500 Less operating expenses Selling expense $ 24,370 Administrative expense 49,630 74,000 Net operating income $ 385,500 Bryant sells its coats for $250 each. Selling expenses consis..
Using the cost and percentage depletion computations : Last Chance Mine (LC) purchased a coal deposit for $2,465,000. It estimated it would extract 17,000 tons of coal from the deposit. LC mined the coal and sold it, reporting gross receipts of $1.43 million, $5.45 million, and $3.5 million for years 1 t..

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!

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