User Account

All Pages

How much cash will each partner receive

Assignment Help Accounting Basics
Reference no: EM133046344

Question - Kat, Mat and Pat are partners with capital balances of P 430,000, P520,000 and P470,000 respectively with profit and loss sharing ratio of 2:3:5 respectively. The firm owes Kat P 50,000. Upon liquidation, P 450,000 is available for distribution to the partners. How much cash will each partner receive?

Reference no: EM133046344

Questions Cloud

Why customer relationship has endured for so long : Discuss how this business/product first became a favorite and explain why this customer relationship has endured for so long.
What is the net cash received over the life of the bond : The straight line method of amortization is used for both premiums & discounts. What is the net cash received over the life of the bond
What is restated amount of the sales : Entity A has total sales revenue of P1,200,000 before restatement on December 31, 20x1. What is restated amount of the sales
Discovery of a new antiviral agent against sars-cov-2 : A methodology for the discovery of a new antiviral agent against SARS-COV-2 (COVID-19).
How much cash will each partner receive : The firm owes Kat P 50,000. Upon liquidation, P 450,000 is available for distribution to the partners. How much cash will each partner receive
Calculate the remittance in cad : The Malaysian subsidiary of a Canadian company is expected to make an after-tax profit of RNG 20,000,000. Calculate the remittance in CAD
What is the book value of the asset at the time of sale : Un Company sold office equipment with a cost of $38,550 and accumulated depreciation of $34,026 for $6,910. What is the book value of the asset at time of sale
How data can be used to provide actionable insights : Justify how data can be used to provide actionable insights and solutions and Reflect on how the availability of data affected the business problem
What is present value of benefit of the concessionary loan : The loan schedule calls for the principal to be repaid in three equal annual installments. What is the present value of the benefit of the concessionary loan

Reviews

Write a Review

Accounting Basics Questions & Answers

  Journalize the transactions for the seller

Assume a perpetual inventory system. Journalize the transactions for the seller, Patterson Company, using the gross method to account for sales discounts.

  Elaborate seven types of audit to the government funds

Elaborate Seven types of audit to the government funds and Non Profit Organisation. Recommend specific audit to the eleven government funds

  What are the strengths and weaknesses of johnson

John Brownstone works for Secretariat, Inc. What are the strengths and weaknesses of Johnson's approach to recording depreciation

  Determine Cove break-even point in units and sales dollars

Cove's Cakes is a local bakery. Price and cost information follows: Price per cake $14.71. Determine Cove break-even point in units and sales dollars

  At the beginning of the month abc distributing budgeted

at the beginning of the month abc distributing budgeted direct labor of 120000 and advertising expenses of 75000 for

  Find what is journal entry for vingold inc

Vingold, Inc. immediately borrowed $120,000 on a five-year note with ten percent interest payable annually beginning on January 1, 2020. What is Journal Entry?

  Prepare the journal entry to record the reimbursement

Petty Cash The petty cash fund of Teasdale's Auto Repair Service, a sole proprietorship, contains the following. The general ledger account Petty Cash has a balance of $300.

  Compute Tyrone PII tax

TyroneCo, an S corporation with a positive E & P balance, Expenditures directly connected to the production of the PII total $80,000. Compute Tyrone's PII tax

  Which shows the annual depreciation expense

Beckett company, Prepare a depreciation schedule which shows the annual depreciation expense on the machine for its 5 year life

  Journalize transaction of showtime amusements

Journalize each transaction of Showtime Amusements as shown for July 1. Explanations are not required -

  What is the internal rate of return

What is the internal rate of return (IRR) of a project that costs $20,070 if it is expected to generate $8,500 per year for three years

  Moon company owns 56 million shares of stock of center

moon company owns 56 million shares of stock of center company classified as available for sale. during 2011 the fair

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