Solution-Determine the amount received by myers as a final

Determine the amount received by myers as a final

Reference no: EM131125736

1. Prior to liquidating their partnership, Myers and Baird had capital accounts of $22,000 and $30,000, respectively. Prior to liquidation, the partnership had no cash assets other than what was realized from the sale of assets. These partnership assets were sold for $65,000. The partnership had $6,000 of liabilities. Myers and Baird share income and losses equally. Determine the amount received by Myers as a final distribution from liquidation of the partnership.

Reference no: EM131125736

Questions Cloud

Determine the amount distributed to alvarez : Prior to liquidating their partnership, Min and Alvarez had capital accounts of $120,000 and $200,000, respectively. The partnership assets were sold for $60,000.

Difficult time attracting-retaining effective-reliable sales : Maximillian Snell is having a very bad Monday at his “pre-owned” car dealership, Maximillian Motors. Known county-wide for his “eye-catching” (some would say obnoxious) television advertisements (with staged customers proclaiming “Thanks a million, M..

Apply the principle of superposition : The effect of the input R(s) and the disturbance Td(s) on the output Y(s) can be considered independently of each other because: a. This is a linear system, therefore we can apply the principle of superposition.

Why is success not more enduring : So often we see the successful firm eventually losing its pattern of success. Why is success not more enduring?

Determine the amount received by myers as a final : Prior to liquidating their partnership, Myers and Baird had capital accounts of $22,000 and $30,000, respectively.

Consider the spring and mass shown : Consider the spring and mass shown in Figure 3.3 where M = 1 kg, k = 100 N/m, and b = 20 Ns/m. (a) Find the state vector differential equation, (b) Find the roots of the characteristic equation for this system.

Find the slope of the tangent line : Find the slope of the tangent line to the graph of y2 + x2y = 5x2 at the point (1, 1). Given that function: y = (x2+7x/x+4). Find dy/dx|x=-1, and tangent to the graph of this function at x = -1

Write a brief book review of walls and apply it to your life : For this assignment, you should write a brief book review of Walls and apply it to your life. This paper is reflective in nature, so you do not need to cite any sources or include any bibliography.

Calculate the performance measures of the systems : Arnold's mechanic, Reid Blank, is able to install new mufflers at an average rate of 3 per hour, or about 1 every 20 minutes. Customers needing this service arrive at the shop on the average of 2 per hour. Define the proble, genrate alternatives, cho..

User Account

All Pages

Determine the amount received by myers as a final

Reference no: EM131125736

Reference no: EM131125736

Questions Cloud

Reviews

Write a Review

Accounting Basics Questions & Answers

Find the manufacturing costs

Lightbulbs and uses a weighted-average process costing

Belief that failure and success lies squarely

Upton company was started on january 1 2011 when the owners

On april 15 2009 melissa purchased 30000 of verbecke cos 12

What is the bond total yield

Matrix company has a maintenance department that maintains

Given the following scenario on what date would you

What is true cash value

Describing a secondary group

Assuming the effective rate of interst is 12 and using the

Compare the histogram to the boxplot

Assured A++ Grade

Academics

Major Subjects

Majors

Get In Touch

TERMS & POLICIES

HELP & SUPPORT