User Account

All Pages

Find how much was carrying amount of non-cash assets

Assignment Help Accounting Basics
Reference no: EM132805740

Problem 1: On January 1, 20x1, A and B decided to liquidate their partnership. As of this date, their capital balances were $400,000 and $800,000, respectively. The partners share profits and losses on a 60:40 ratio. Before liquidation, the partnership had $80,000 cash and $120,000 liabilities. The partnership incurred loss of $480,000 on the sale of non-cash assets. A is solvent but B is insolvent. How much was the carrying amount of the non-cash assets?

Reference no: EM132805740

Questions Cloud

How will the case or policy help improve education for ells : Choose one Supreme Court case or one educational policy pertaining to English language learners (ELLs). In a 500-750 word essay, discuss the effect that this.
What will be the price of the stock tomorrow morning : What will be the price of the stock tomorrow morning? The market value balance sheet for XP Corp. reflects cash of $42,000, fixed assets of $319,000
Which activities did you find to be the most interesting : Which of the five activities did you find to be the most interesting or educational? Did you find the Stellarium program easy or difficult to use?
Should purchase the new piece of equipment : Should they purchase the new piece of equipment? Why? The machine can be sold at the end of the year four for $25,000. Assume a discount of 8%.
Find how much was carrying amount of non-cash assets : Find How much was the carrying amount of the non-cash assets? Before liquidation, the partnership had $80,000 cash and $120,000 liabilities.
Review your states professional development system : You should now have a better understanding of early childhood professional development systems. Let's use that knowledge to identify how a professional.
Identify the different potential job titles : Identify 5 different potential job titles. Include education and experience requirements as well as any requirements specific to your state that might be.
How much cash b receive in first cash distribution for abc : Determine How much cash did B receive in the first cash distribution? The total cash distributed to the partners after the first and second sales
Establish the steps for student differentiation : Create a 2-column chart to analyze both qualitative and quantitative data to determine student progress and establish next steps for student differentiation.

Reviews

Write a Review

Accounting Basics Questions & Answers

  Compare strategic balanced scorecards and kpi scorecards

Compare and contrast strategic balanced scorecards, KPI scorecards, and stakeholder scorecards.

  In decker co capital balances are menke 31500 and hibbett

in decker co. capital balances are menke 31500 and hibbett 53100. the partners share income equally.nbsp kosko is

  Blore corporation reports that at an activity level of 7300

blore corporation reports that at an activity level of 7300 units its total variable cost is 511803 and its total fixed

  What is the largest dollar item in the operating activities

locate the 2009 financial statements for the walt disney company on the internet and consider the following1.does

  Part of the audit team ar ddd partners

Part of the audit team ar DDD partners

  Prepare a statement of cash flows for mikos

Prepare a statement of cash flows for Mikos Inc. for the year ended December 31, 2015 by using the indirect method

  Value of meals from the employee gross income

Iris, a widow, elected to receive the proceeds of a $100,000 face value life insurance policy on the life of her deceased husband in annual installments of $12,500 over the remainder of her life, estimated to be 10 years. Section 119 excludes the ..

  Calculate the weighted-average common shares outstanding

Trinity Railway paid $250,000 in common dividends during 20X5. Calculate the weighted-average common shares outstanding for 20X5

  Define the purpose and function of money

Define the purpose and function of moneyExplain how the central bank manages a nation's monetary system. Outline the stated direction of recent monetary

  Journalise the events

You are to journalise the events (including dates and notations). You should assume that all monies were received on 18th April (applications). What other option did the directors have with the excess demand, returning the excess?

  Make Alpha Company general journal entries

Bravo Company returned, to Alpha Company, merchandise with an original cost to Alpha of $300 on May 3, 2016. Make Alpha Company General Journal entries

  What revenue recognition options are available to zynga

What revenue recognition options are available to Zynga? Has technology changed the way revenue should be recognized?

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