User Account

All Pages

How much is the share of diaz in the profit

Assignment Help Accounting Basics
Reference no: EM133150950

Question - Distribution of Profits and Losses Based on Partners Agreement - Diaz and Manalo formed a partnership, investing P660,000 and P220,000, respectively.

Required - Determine the allocation of the 2020 profit of P840,000 the partners under each of the following independent assumptions:

a. Divided in the ratio of original capital investment

1. How much is the share of Diaz in the profit?

2. How much is the share of Manalo in the profit?

b. 8% interest allowed on original investments and the remainder to be divided in the ratio 2.3

1. How much is the share of Diaz in the profit?

2. How much is the share of Manalo in the profit?

c. Annual salary allowances of P50,000 and P70,000 respectively for Diaz and Manalo, 5% interest on original investments, and the remainder to be divided equally.

1. How much is the share of Diaz in the profit?

2. How much is the share of Manalo in the profit?

3. How much would be the capital balance of Diaz after the distribution of profit?

Reference no: EM133150950

Questions Cloud

What adult height would you predict for a baby : Given regression equation, = 62 + 0.4X, where X is length at birth and Y is adult height, what adult height would you predict for baby 20 inches long at birth
Is the agreement a breach of the antitrust laws : Is the agreement a breach of the antitrust laws? Explain briefly the reason behind your answer.
Do debtholders of fenerbahce prefer hiring ronaldo : Do debtholders of Fenerbahce prefer hiring Ronaldo? Galatasaray Soccer Club has no debt and has $10 million. Will Galatasaray hire Ronaldo
Understanding of victimology : Explain the contributions the article has brought to your understanding of victimology.
How much is the share of diaz in the profit : Annual salary allowances of P50,000 and P70,000 respectively for Diaz and Manalo, How much is the share of Diaz in the profit
From advanced business law : What type of franchise was Del Rey's La Grande Enchilada restaurant? If Del Rey operates the restaurant as a sole proprietorship,
How many soccer balls would be left in inventory : On May 5- 27 soccer balls were sold to The Juniors team for $10.25. How many soccer balls would be left in inventory on May 30 using perpetual inventory system
Develop a proposal for healthcare reform : A discussion of the role of special interest groups on health reform. Explain the importance of considering existing privacy laws in reform efforts
Relevant strategy development models : Case Analysis using Strategy Models - To ensure that all students participate equitably in the group assignment

Reviews

Write a Review

Accounting Basics Questions & Answers

  Compute the activity-based overhead rates

Ramos Enterprises manufactures speakers and receivers and uses activity-based costing. Compute the activity-based overhead rates

  What are carol tax consequences as a result

Corporation, a US corporation, in exchange for one payment of $1,000 paid to her Swiss bank account, What are Carol tax consequences as a result

  What is the variance of the stock returns

Question - The last four years of returns for a stock are as follows: What is the variance of the stock returns? What is the average annual return

  Prepare a memorandum for jones

Explanation of the advantages and disadvantages of each business form, including a discussion on how the IRS collects income tax from each.

  Compute the predetermined overhead rate for august

The company re-computes its predetermined overhead rate every month. Compute the predetermined overhead rate for August

  At what amount does kim carry the phelps investment

Kim Company bought 20% of the shares of Phelps, Inc., at the start of 2021. Kim paid $25 million for the shares. Twenty percent of the book value of Phelps's.

  Prepare an adjusted trial balance

Sam's Pizzeria International Inc. operates and franchises pizza delivery and carryout restaurants worldwide

  Compute warren actual return on plan assets

For Warren Corporation, year-end plan assets were $2,000,000. Compute Warren's actual return on plan assets

  Calculate the numerator of the city operating margin

(Computation of a government's operating margin) Following is an excerpt from a city's General Fund statement of revenues, expenditures.

  What amount should be reported as note receivable

On December 31, 2020, what amount should be reported as note receivable? Elisha Company sold a machine in exchange for a noninterest bearing

  Prepare journal entries to record the contributions

Prepare journal entries to record the contributions. Be sure to specify the appropriate fund in which they would likely be made

  How much would it have cost him to shoot the last two ducks

Bob has just returned from a duck hunting trip. He has brought home eight ducks. How much would it have cost him to shoot the last two ducks

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