User Account

All Pages

Find how much would have been the total profits

Assignment Help Accounting Basics
Reference no: EM132584467

Question 1: Partners Ben, Noreen, Lani, and Edwin initially invested P 45,000;P60,000;P65,000 and P85,000'each to form a partnership on July 1, 2020. They divide profit and losses based on the following: a.) Annual salaries of P15,000, P20,000 and P20,000 to Ben, Noree, and Lani; b.) 10% annual interest on original capital to Lani; c.) 20% bonus to Edwin before salaries, interest, and bonus; d.) The balance is to be divided into a 4:3:2:1 ratio to Ben, Noreen, Lani, and Edwin each, respectively. If on December 31, 2021 the capital balances of Noreen and Lani total P250,000, how much would have been the total profits given to Edwin at this time (from 2020 to 2021)?

Reference no: EM132584467

Questions Cloud

How much is the shares of m : n the distribution of the balance in net profit of the joint arrangement, how much is the shares of M?M and N join a joint partnership for the sale of certain
Critically examine the case - catch-a-scooter pvt ltd : Critically examine the case - A critical path diagram indicating slack time, critical path and project timeline - Catch-A-Scooter Pvt Ltd (CaS)
Calculate partnership total income : How about the portion for each partner (based on their agreement or equally to all)? If the original partner have leave the partnership is he/she entitled)
Describing new product in development : Describing a new product in development. What type of innovation does the new product represent?
Find how much would have been the total profits : Partners Ben, Noreen, Lani, and Edwin initially invested,Find how much would have been the total profits given to Edwin at this time?
Brick-and-mortar organization : Select three problems that brick-and-mortar organizations face as they transition toward becoming virtual organizations.
Create merchandise purchases budget for november : Prepare Merchandise Purchases Budget for November and December.Prepare Schedule of Expected Cash Collections for November and December.
For profit vs. not for profit organizations : Although both for-profit and not-for-profit hospitals provide a certain amount of charitable services to the public,
BSBLDR802 Lead the strategic planning process : BSBLDR802 Lead the strategic planning process for an organisation Assignment Help and Solution, Strategic Business Report - Assessment Writing Service

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