Solution-Determine the amount of cash

Determine the amount of cash

Assignment Help Accounting Basics

Reference no: EM132941248

Problem - When Conde and Dalmacio, partners who share earnings equally, were incapacitated in an airplane accident, a liquidator was appointed to wind up their business. The accounts showed cash, P70,000; other assets, P220,000; liabilities, P40,000; Conde's capital, P142,000 and Dalmacio's capital P180,000. Because of the highly specialized nature of the non-cash assets, the liquidator anticipated that considerable time would be required to dispose them. The expense of liquidating the business (advertising, rent, travel, etc.) are estimated at P20,000. Determine the amount of cash that can be distributed safely to each partner at this point.

Reference no: EM132941248

Questions Cloud

Identify two stakeholders in the job analysis process : Identify two stakeholders in the job analysis process, and discuss what they contribute to the process and how the information they provide can affect an analys

Calculate the cost of equity for Anderson Furniture : The company has 28% of the capital coming from bonds with a 6% required rate of return for its investors. Calculate the cost of equity for Anderson Furniture

Implications for the organisation and business objectives : Research and identify three common health issues in the business workplace that can affect productivity and, for each issue:

Explain specific human resource management practices : Angleo's Pizza explores the importance of establishing human resource (HR) practices as this organization expands. After having success with one store, Angelo d

Determine the amount of cash : The expense of liquidating the business (advertising, rent, travel, etc.) are estimated at P20,000. Determine the amount of cash that can be distributed safely

Explain current structure of the healthcare organization : How do you think size, technology, the environment, or culture led to the current structure of the healthcare organization?

Who should be members of the Audit Committee : Who should be members of the Audit Committee? Is there an association between Audit committee effectiveness and audit quality after IFRS adoption

Construct a table to show the amount of depreciation : Construct a table to show the amount of depreciation should be recorded each year during the lifetime of the machine

List the seven classes of physical ability tests : List the seven classes of physical ability tests. Why is it important to keep these tests in mind when selecting and placing a new employee?

User Account

All Pages

Determine the amount of cash

Reference no: EM132941248

Reference no: EM132941248

Questions Cloud

Reviews

Write a Review

Accounting Basics Questions & Answers

How much control does fed have over this longer real rate

Coures:- fundamental accounting principles

Accounting problems

Theory of interest - term structure of interest rates

Write a report on internal controls

Prepare the bank reconciliation for company

Cost-benefit analysis

Theory of interest

Liquidity and profitability

What is the expected risk premium on the portfolio

Simple interest and compound interest

Capm and venture capital

Assured A++ Grade

Academics

Major Subjects

Majors

Get In Touch

TERMS & POLICIES

HELP & SUPPORT