Solution-Determine the amount of chows deficiency

Determine the amount of chows deficiency

Assignment Help Cost Accounting

Reference no: EM13534165

Liquidating partnerships-deficiency

Prior to liquidating their partnership, Chow and Fuentes had capital accounts of $85,000 and $165,000, respectively. The partnership assets were sold for $45,000. The partnership had no liabilities. Chow and Fuentes share income and losses equally.

a. Determine the amount of Chow's deficiency.

b. Determine the amount distributed to Fuentes, assuming Chow is unable to satisfy the deficiency.

Reference no: EM13534165

Questions Cloud

Explain why the membrane potential between the axon hillock : Explain why the membrane potential between the axon hillock and axon either changed or did not change with sub threshold stimulus?

Calculate how much work is done on the toboggan : A person pulls a toboggan for a distance of 37.8 m along the snow with a rope directed 26.7 ° above the snow. The tension in the rope is 99.2 N. How much work is done on the toboggan by the tension force

Define what is the ph of a solution containing potassium : What is the pH of a solution containing 4.555 g of potassium sorbate, KC6H7O2 , KSORB, MM = 150.21 g/mol, in 0.750L of solution?

Growing number of patients with food intake issues : There are a growing number of patients with food intake issues.

Determine the amount of chows deficiency : Determine the amount of Chow's deficiency and determine the amount distributed to Fuentes, assuming Chow is unable to satisfy the deficiency.

Calculate the force of gravity on a spacecraft : Calculate the force of gravity on a spacecraft 25600 km (4 earth radii) above the Earth's surface if its mass is 1500 kg

Define what is the mole fraction of methanol : Vapor pressure of water at 25 deg C is 24 mmHG and that of pure methanol is 120 mmHG. What is the vapor pressure above the solution of methanol and water at 25 deg C. What is the mole fraction of methanol in the vapor above this solution. 32 g of ..

Determine the amount of haines deficiency : Determine the amount of Haines deficiency and determine the amount distributed to Jolly, assuming Haines is unable to satisfy the deficiency.

Find the resistance of the cylinder : A resistor is constructed by forming a material of resistivity 3.5x10^5 into the shape of a hollow cylinder of length 4.0 cm and inner and outer radii of 0.50cm and 1.2cm, respectively. Find the resistance of the cylinder

User Account

All Pages

Determine the amount of chows deficiency

Reference no: EM13534165

Reference no: EM13534165

Questions Cloud

Reviews

Write a Review

Cost Accounting Questions & Answers

Cost accounting assignment

Prepare the journal entries

Advise as to the liability of all the parties

Prepare revenues budget

Effect of exchange rate changes on cash and cash

Corporate governance

Cost-benefit analysis

Non-annual interest rates and annuities

Job costing in service organizations

Accounting for bad debt expense

Accounting and partnership problems

Development of relevant cash flows

Assured A++ Grade

Academics

Major Subjects

Majors

Get In Touch

TERMS & POLICIES

HELP & SUPPORT