User Account

All Pages

Determine the amount paid to colter

Assignment Help Accounting Basics
Reference no: EM132621561

Agler, Bates and Colter are partners who share income in a 5:3:2 ratio. Colter, whose capital balance is P 150,000, retires from the partnership.

Required:

Problem a: Determine the amount paid to Colter under each of the following cases:

1. P 50,000 is debited to Agler capital account, the bonus approach is used.

2. Goodwill (or revaluation of asset) of P 60,000 is recorded; the partial goodwill approach (or revaluation of specific asset is used) is used. P 66,000 is credited to Bates' capital account; the total goodwill is used.

Reference no: EM132621561

Questions Cloud

Explain why certain solutions are better than others : You will identify key ethical problems facing the company, create potential solutions to those problems, and explain why certain solutions are better than other
Explain the potential and scope of social work practice : Explain the potential and scope of social work practice with people across the lifespan, particularly with respect to health and wellbeing, and in building
How could the bacterial microbiome impact obesity : How do bacteria enable a baby to extract nutrition from the mother's milk? How could the bacterial microbiome impact obesity?
Name of the mycotic infection : Fungi are eukaryotic microbes that are highly ubiquitous in the environment and although most strains do not cause disease in humans, there are approximately
Determine the amount paid to colter : Determine the amount paid to Colter under Goodwill (or revaluation of asset) of P 60,000 is recorded; the partial goodwill approach
Preliminary market analysis for geriatric psychiatric unit : Create a preliminary market analysis for a geriatric psychiatric unit.
Performance of the simple staining procedure : During the performance of the simple staining procedure, you failed to heat fix your E. coli
Prepare the journal entry to record admission of don dallas : Prepare the journal entry to record the admission of Don Dallas into the Partnership under each of the Don acquires ¼ of Phoenix capital interest
Define what is the best way to reduce child labor : In your opinion, what is the best way to reduce child labor for multinational corporations? How is the phenomenon of child labor viewed from your ethical.

Reviews

Write a Review

Accounting Basics Questions & Answers

  How much control does fed have over this longer real rate

Hubbard argues that the Fed can control the Fed funds rate, but the interest rate that is important for the economy is a longer-term real rate of interest.   How much control does the Fed have over this longer real rate?

  Coures:- fundamental accounting principles

Coures:- Fundamental Accounting Principles: - Explain the goals and uses of special journals.

  Accounting problems

Accounting problems,  Draw a detailed timeline incorporating the dividends, calculate    the exact Payback Period  b)   the discounted Payback Period. the IRR,  the NPV, the Profitability Index.

  Theory of interest - term structure of interest rates

Term Structure of Interest Rates

  Write a report on internal controls

Write a report on Internal Controls

  Prepare the bank reconciliation for company

Prepare the bank reconciliation for company.

  Cost-benefit analysis

Create a cost-benefit analysis to evaluate the project

  Theory of interest

Theory of Interest: NPV, IRR, Nominal and Real, Amortization, Sinking Fund, TWRR, DWRR

  Liquidity and profitability

Distinguish between liquidity and profitability.

  What is the expected risk premium on the portfolio

Your Corp, Inc. has a corporate tax rate of 35%. Please calculate their after tax cost of debt expressed as a percentage. Your Corp, Inc. has several outstanding bond issues all of which require semiannual interest payments.

  Simple interest and compound interest

Simple Interest, Compound interest, discount rate, force of interest, AV, PV

  Capm and venture capital

CAPM and Venture Capital

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