Solution-Find which partner smallest april capital account

Find which partner smallest april capital account balance

Assignment Help Cost Accounting

Reference no: EM132762463

Problem 1: On April 30, 20x1, A, B and C formed a partnership. A contributed cash of ?50,000. B contributed property with ?36,000 carrying amount, ?40,000 original cost and ?80,000 fair value. The partnership accepted responsibility for the ?35,000 mortgage attached to the property. C contributed equipment with ?30,000 carrying amount, ?75,000 original cost and ?55,000 fair value. The partnership agreement specifies that profits and losses are to be shared equally but is silent regarding capital contributions. Which partner has the smallest April 30, 20x1 capital account balance?

Reference no: EM132762463

Questions Cloud

Determine the terminal year non-operating cash flow in year : Determine the terminal year non-operating cash flow in year 5. Pharmos Incorporated is a Pharmaceutical Company which is considering investing in new production

Describe enterprise resource planning system : Describe the enterprise resource planning (ERP) system(s) found in a healthcare organization. How could they be improved?

Prepare the appropriate entries for events for hunter inc : Hunter, Inc, During 2020, several events and transactions affected the retained earnings of Hunter. Prepare the appropriate entries for the events.

Automatic replenishment of store inventories triggered : Automatic replenishment of store inventories triggered at point of sale co-managed inventories with suppliers: data accumulated at point of sale

Find which partner smallest april capital account balance : A contributed cash of ?50,000. B contributed property with ?36,000. Which partner has the smallest April 30, 20x1 capital account balance?

Write specific type of trace evidence you have chosen : Prior to beginning this discussion, review the required readings for this week and find/review two additional credible sources from the Ashford University.

Story board of the website design : Web design capabilities in other topic (not mentioned here), prior approval from the lecturer is needed - create a website of at least 5 pages

What differences do you note between the two systems : What common components do you notice that their systems share? What differences do you note between the two systems?

Determine the carrying value of the intangible asset : Goo Limited owns a brand 'gobblers', Determine the Carrying value of the intangible asset as of December 31, 2016 before impairment testing.

User Account

All Pages

Find which partner smallest april capital account balance

Reference no: EM132762463

Reference no: EM132762463

Questions Cloud

Reviews

Write a Review

Cost Accounting Questions & Answers

Cost accounting assignment

Prepare the journal entries

Advise as to the liability of all the parties

Prepare revenues budget

Effect of exchange rate changes on cash and cash

Corporate governance

Cost-benefit analysis

Non-annual interest rates and annuities

Job costing in service organizations

Accounting for bad debt expense

Accounting and partnership problems

Development of relevant cash flows

Assured A++ Grade

Academics

Major Subjects

Majors

Get In Touch

TERMS & POLICIES

HELP & SUPPORT