User Account

All Pages

How much cash should be distributed to aa

Assignment Help Accounting Basics
Reference no: EM133020536

Question - AA and BB are partners who share income in the ratio of 3:2 and have capital balances of P50,000 and P90,000 at the time they decide to terminate the partnership. After all noncash assets are sold and all liabilities are paid, there is a cash balance of P90,000. How much cash should be distributed to AA?

a. P45,000

b. P50,000

c. P30,000

d. P20,000

Reference no: EM133020536

Questions Cloud

Calculate the cash flow to the creditors for the year : In 2020, the income statement showed an interest expense of $2,000,000 and dividends paid of $750,000. Calculate the cash flow to the creditors for the year
How much will you have accumulated for retirement : Assume that you want to retire in 40 years. You decided to invest $4,000 per year for 35 years, How much will you have accumulated for retirement in 35 years
How much income does monica recognize : Straight-line depreciation would have been $1,300,000. How much income does Monica recognize and how will it be treated
Calculate the necessary safety inventory : The daily demand for a product is 120 units, with a standard deviation of 30 units. Calculate the necessary safety inventory
How much cash should be distributed to aa : After all noncash assets are sold and all liabilities are paid, there is a cash balance of P90,000. How much cash should be distributed to AA
Discuss the role of the investment bank : Discuss the role of the investment bank as financial intermediary in the buying and selling of securities in the secondary and tertiary markets
What is the balance of the allowance for loan impairment : On July 1, 2020, XYZ Company borrowed P2,500,000 from BPI, with 12% interest. What is the balance of the allowance for loan impairment
What is the amount of insurance expense : President dies on September 30, 2026, and policy is collected on December 2, 2026. What is the amount of insurance expense
Determine what the profit would be in a week : The company's weekly break-even point is sales of R18,000. Determine what the profit would be in a week when 800 units are sold

Reviews

Write a Review

Accounting Basics Questions & Answers

  How much is gain on extinguishment to be recognized

The new interest rate is 13% payable annually every December 31. How much is gain on extinguishment to be recognized for 2006

  Do you think it is ok to change a budget mid month

Yes, budgeting is important and can be very helpful to us in many ways. Do you think it is o.k. to change a budget mid month? Why or why not?

  What is another name for the balance sheet

Refer to the slide show in the module to complete the following. Answer the following questions and submit to me via Canvas.

  Calculate depreciation each year for both assets

Calculate depreciation each year for both assets? Show each year depreciation expense and accumulated depreciation. Custom clearance cost N$ 8 500

  What is the classification of the printer in auditing

What is the classification of the printer in auditing. Using the auditing assertions. Please explain it more detail. The response must be typed.

  How many units need to be sold to break even

Break-Even Analysis: You have been asked to calculate how many units need to be sold to break even, based on the costs provided in task #3.

  Martin company manufactures a powerful cleaning solvent the

martin company manufactures a powerful cleaning solvent. the main ingredient in the solvent is a raw material called

  Describe the life of the bond is

On January 1, 2017, Babb Trailers Inc. issued $6,500,000 of par value bonds for $6,200,000. The bonds pay interest semiannually on January 1 and July 1.

  Prepare the journal entries to account for the investment

Prepare the journal entries to account for the investment in 2007, 2008 and 2009. Calculate the gain after the January 1, 2009 acquisiton

  Recognize more or less revenue under ifrs

If a company has numerous long term construction contracts for which it cannot reliably estimate the costs to complete,

  How do you react to Loretta tax strategy

The credit truly has made a difference in the lives of Loretta and her family by helping them keep their creditors at bay. How do react to Loretta tax strategy

  Compute the cost of goods sold

Prepare the journal entries to record the July transfer of completed goods and the July cost of goods sold.

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