User Account

All Pages

Describe capital investements and sharing the remainder

Assignment Help Financial Accounting
Reference no: EM13129891

Kim invested 56,000. Tere invested 72,000 and josh invested 80,000 in a partnership. During its first calendar year. The firm earned 423,300. The partners to share income by providing annual salary allowances of 39,000 to kim. 34,000 to tere. and 46,000 to josh. Granting 10 percent interest on the partners beginning capital investements and sharing the remainder equally.

Reference no: EM13129891

Questions Cloud

When a ketone is treated with water what general results : When a ketone is treated with LiAlH4 followed by addition of water, what general class of product results?
Determine the initial pressure of n2 : 2.00 L of H2 at a pressure of 398 torr and 1.00 L of N2 at an unknown pressure. If the total pressure in the flasks is 331 torr after the stopcock is opened,
Financial management-annual inflation rates : Suppose the current exchange rate for the Polish zloty is Z 2.85. The expected exchange rate in three years is Z 2.93. What is the difference in the annual inflation rates for the United States and Poland over this period?
Net cash flow from operating activities : Net cash flow from operating activities may be reported indirectly by removing the effects of certain items from net income. Which of the following requires an adjustment for this purpose?
Describe capital investements and sharing the remainder : The firm earned 423,300. The partners to share income by providing annual salary allowances of 39,000 to kim. 34,000 to tere. and 46,000 to josh. Granting 10 percent interest on the partners beginning capital investements and sharing the remainder..
Analyze the impact of erroneous classifications : Analyze the impact of erroneous classifications in the operating activities section of the cash flow statement on free cash flow and how this distortion can impact the decisions made by financial statement users.
Confidence interval for automobiles traveling on interstate : From past information, it is known that the standard deviation of the population is 22 mph. The 96.6% confidence interval for m is?
Computing monthly finance charge for credit card : Calculate the monthly finance charge for the credit card transaction. Assume that it takes 10 days for a payment to be received and recorded, and that the month is 30 days long.
Evaluate the logic of reflecting key person life insurance : evaluate the logic of reflecting key person life insurance in the operating activities of the cash flow statement and determine if this presentation is misleading to users of the financial statements.

Reviews

Write a Review

Financial Accounting Questions & Answers

  Determine the net present value for both assets

Ignoring income taxes, determine the net present value for both assets. Which asset would you advise buying? Why?

  Evaluate the break-even point for a multiproduct company

Evaluate the Break-Even Point for a Multiproduct Company and Compute the overall break-even point for the company in sales dollars

  Find project management methodologies

What guidance would you give a new project manager on selecting the most appropriate methodology, tools, and techniques for a project?

  Prepare journal entries to record the above transactions

Preparation of journal entries to record issue of shares and dividend and Prepare journal entries to record the above transactions.

  Which inventory costing method assigns

Which inventory costing method assigns the cost of the most recent items purchased to the ending inventory balance?

  Determine the production mix at each corner point

Determine the production mix at each corner point beyond the feasible production region (i.e., assuming you could produce at these coordinates)?

  Explain how can you incorporate this type of analysis

Explain how can you incorporate this type of analysis and awareness into your professional work in a way that enhances your value to your organization? Which tools covered in this course might most readily translate into expanding your personal an..

  Estimation of adjusted contract price

Given base index and index at delivery, estimation of adjusted contract price.

  Check the requirements of aasb framework

Give a response to the shareholder on the basis of these requirements. Check the requirements of both AASB 138 and the AASB Framework in relation to accounting for brands;

  Illustrate what is the direct labor efficiency variance

The standard direct labor wage are is $8.00 and the standard quantity of hours allowed for the actual level of output was 5,000 direct labor hours. Illustrate what is the direct labor efficiency variance?

  Would you expect npv based on net income to be higher

Would you expect the NPV based on net income to be higher or lower than the NPV calculated using cash flows?

  Evaluate the cost assigned to ending inventory

Evaluate the cost assigned to ending inventory and to cost of goods sold using a) specific identifacation, b) weighted average, c) FIFO and d) LIFO

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