User Account

All Pages

Determine the amount paid to Colter

Assignment Help Accounting Basics
Reference no: EM132931764

Problem - Agler, Bates and Colter are partners who share income in a 5:3:2 ratio. Colter, whose capital balance is P150,000, retires from the partnership.

Required - Determine the amount paid to Colter under each of the following cases:

-The bonus method is used; "Agler, Capital" account was debited by P50,000.

-Revaluation of asset is recorded; "Bates, Capital" account was credited by P66,000.

Reference no: EM132931764

Questions Cloud

Connection between cell replication and cancer : Describe the connection between cell replication and cancer.
Why insulin is so outrageously expensive : A. Bariatric surgery is an effective, although highly invasive, treatment for obesity. Discuss the pros and cons of bariatric surgery as a treatment for obesity
Describe how animals differ from other forms of life : Describe how animals differ from other forms of life, discussing at least three characteristics of animals in your answer.
How much total financial revenue would AB Company earned : AB appropriately recorded the lease as a direct financing lease. How much total financial revenue would AB Company earned over the term of the lease
Determine the amount paid to Colter : Agler, Bates and Colter are partners who share income in a 5:3:2 ratio. Determine the amount paid to Colter under each of the following cases
Process of placing organisms into kingdoms : Pick a topic related to the process of placing organisms into kingdoms, and elaborate upon it. There are many ways in which you can take this discussion.
Discus the ethical dilemma faced by Hendrick Cruz : -Discus the ethical dilemma faced by Hendrick Cruz and Nathan Santos. -With that what alternatives and proposed actions could they do
What type of aging is medawar observing : So, what type of aging is Medawar observing and describing in his test tube experiment and how is that related to human aging?
What will be his total saving account balance : If Akira also puts his parents' graduation gift of $3000 into his saving account at the beginning of the 5 years, what will be his total saving account balance

Reviews

Write a Review

Accounting Basics Questions & Answers

  Discuss interest would bruce bruce capitalize

If Bruce Bruce used IFRS, what amount of interest would Bruce Bruce capitalize and what gain or loss would they show because of the loan

  Problem regarding the motivational approaches

Try to apply each of the motivational approaches to explain what happened. Which of the approaches offers the most appropriate explanation? Why

  Von october 29 2010 lue co began operations by purchasing

von october 29 2010 lue co. began operations by purchasing razors for resale. lue uses the perpetual inventory method.

  Calculate the Fringe Benefits Tax Liability for Perisher

Perisher Pty Ltd (Perisher) is a Ski equipment manufacturer that operates around Mt Hotham in Victoria. Calculate the Fringe Benefits Tax Liability for Perisher

  How the present value relate to the concept of liability

Show adjusting journal entries if actual expenditure incurred in warranty is Sh. 150,000. How does the present value relate to the concept of liability

  Journalize the adjusting entry at december for maxx company

If allowance for Doubtful Accounts has a debit balance of $370 in the trial balance, journalize the adjusting entry at December 31

  Problem related to the gocker corporation

On January 1, 2014, equipment costing $1,200,000 is purchased. It is to be depreciated on a straightline basis over 5 years for tax purposes and over 8 years.

  Compute the gross pay of the employees during January

A company has 10 employees who earned a total of $30,000 in January ($3,000 each). Compute the gross pay of the employees during January

  Estimating and reporting bad debts

Problem 9- 3A Estimating and reporting bad debts P2 At December 31, 2013, Hawke Company reports the following results for its calendar

  What amount should be reported as cash and cash equivalents

Postdated cheques received from customers 1,000. What amount should be reported as cash and cash equivalents in the statement of financial position

  Prepare the journal entry necessary to record the change

Prepare the journal entry necessary to record the change in 2015 and show net income reported for 2012, 2013, 2014, and 2015

  Colts company manufactures three products from a joint

colts company manufactures three products from a joint process. joint costs for the year amount to 500000. the

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