How much cash would be paid to which partner

Assignment Help Financial Accounting

Reference no: EM132750028

The ABC Partnership has the following capital balances and profit/loss sharing percentages:

Partner Capital Profit/loss%

A 300,000 25%

B 350,000 35%

C 500,000 40%

Problem 1) Assume the partnership has $50,000 in cash, $1,130,000 in non-cash assets, and $30,000 in liabilities. They wish to hold back an additional $10,000 for unforeseen expenses. How much cash would be paid to which partner?

Reference no: EM132750028

Questions Cloud

What will be the credit balance in the franking account : 3) On 21 September 2019, it paid a $14,000 cash dividend with franking credits of $3,600 attached. What will be the credit balance in the franking account

Discretion steps can help in countermeasures : How basic discretion steps can help in countermeasures?

Advise brianna smith of what deductions may be claimed : Advise Brianna Smith of what deductions may be claimed (if any) for the year ending 30 June 2020 in respect of the above expenditure

Represent a tremendous opportunity for business : The increasingly large stores of data, and the potential to extract value from them represent a tremendous opportunity for business

How much cash would be paid to which partner : Assume the partnership has $50,000 in cash, They wish to hold back an additional $10,000 for unforeseen expenses. How much cash would be paid to which partner?

Pavement and stormwater management facilities : Identify what type of critical infrastructure data collection is needed for pavement and stormwater management facilities.

Find the difference between implied and book value : Payton Corporation buys 80 percent of Sheilla Company on January 1, 2017, for $150,000. Find the difference between implied and book value

Compute what is inventory turnover ratio : Crane Corp. has a gross profit margin of 35.00 percent, sales of $35,000,000, and inventory of $17,500,000. What is its inventory turnover ratio?

Data and manage its risk using policies : Data sustains and organization's business policies and enables it to deliver products and services.

User Account

All Pages