Reference no: EM133104789
Question - Alexander and Eddie formed a partnership on January 1, 2018 by contributing P80,000 and P120,000, respectively. As of January 1, 2019, their partnership capital were P90,000; P110,000, respectively. The partnership earned profit amounting to P40,000.
Situations:
A. No profit sharing agreement
B. No loss sharing agreement
C. Profit is divided equally
D. Loss divided 30:70 to Alexander and Eddie, respectively
1. How much is the share of Alexander if no profit or loss sharing agreement was made during the year?
A. 20,000 B. 16,000 C. 18,000 D. 15,000
2. How much is the share of Eddie using situation letter B and C if the loss during the year is P 40,000?
A. 20,000 B. 24,000 C. 22,000 D. 25,000
3. How much is the share of Alexander using situation letter A and D if the profit during the year is P 40,000?
A. 20,000 B. 12,000 C. 28,000 D. 16,000
4. How much is the share of Eddie using situation letter C and D if the profit during the year is P 40,000?
A. 28,000 B. 24,000 C. 20,000 D. 22,000
|
What annual rate of return must kirk earn
: Assume that the cost of the ring will be $10000 in 9 years Kirk currently has $4,499 to invest. What annual rate of return must Kirk earn
|
|
Determine the sales breakeven in dollars
: Question - Consider the following: Sales $150,000 Total variable costs $90,000 Total Fixed costs $60,000. Determine the sales breakeven in dollars
|
|
How much money must be invested now
: Present Value of $1 - Assume an investment has an 8% annual rate of return. How much money must be invested now to grow to $1,000,000 in 40 years
|
|
Discuss your application of the theory to the reading
: Write on the reading are your opportunity to summarize/take notes on the reading and that this this blog post assignment needs to focus on application
|
|
How much is the share of alexander
: The partnership earned profit amounting to P40,000. How much is the share of Alexander if no profit or loss sharing agreement was made during the year
|
|
How much does he still owe the bank
: Jake has taken a 25-year, $2 million housing loan at an interest rate of 12% per year. How much does he still owe the bank
|
|
Prepare entries required to record the inception
: Prepare entries required to record the inception of the lease in the capital projects fund, the debt service fund, and the governmental activities journal
|
|
Reflect on your current level of emotional intelligence
: Emotional Intelligence: Self Reflective Analysis - Demonstrate the technique of reflective and reflexive practice as a means of continuous learning
|
|
Calculate the spread between the upper and lower limits
: The minimum cash balance of Kshs 20,000 is required at ABC Co, Calculate the spread between the upper and lower limits
|