How much should d contribute in cash of other assets

Assignment Help Financial Accounting
Reference no: EM132754549

The following balance sheet is presented for the partnership of A, B and C, who share profits and losses in the ratio of 5:3:2 respectively. Assets Liabilities and Capital Cash 120,000 Liabilities 280,000 Other assets 1,080,000 A, capital 560,000 B, capital 320,000 ________ C, capital 40,000 Total 1,200,000 1,200,000 Assume that the assets and liabilities are fairly valued on the balance sheet, and the partnership decided to admit D as a new partner with a one-fifth interest and no goodwill or bonus is to be recorded.

Problem 1: How much should D contribute in cash of other assets?

a. 147,200

b. 184,000

c. 230,000

d. 240,000

Reference no: EM132754549

Questions Cloud

Describe the process reflects the code of ethics : A 1- to 2-page process to logically evaluate ethical dilemmas as they arise with the expansion of the company into the country you have chosen.
Monetary difference between owning versus leasing : There is not much monetary difference between owning versus leasing. In these circumstances, which method would you recommend? Why?
How would account for the depreciation of the building : How you would account for the depreciation of the building and how the replacement of the roof would affect the depreciation calculations.
Adapt the curriculum in response to social change : Reflect on Noddings (2007/2013). Answer at least two (2) of the following questions:
How much should d contribute in cash of other assets : How much should D contribute in cash of other assets? The following balance sheet is presented for the partnership of A, B and C, who share profits
How is conducting graduate-level research : How is conducting graduate-level research different from the research you did in your undergraduate program? Provide specific examples.
Why is it important to evaluate sources for credibility : Why is it important to evaluate sources for credibility, reliability, and bias? What are possible consequences for not evaluating sources for these items?
Calculate the net present value of new production equipment : Calculate the net present value of the new production equipment. Lakeside Inc. is considering replacing old production equipment with state-of-the-art
What is the difference between gis and cad : What is the difference between GIS and CAD? Why GIS and CAD both exist? Imagine you are looking at a geodatabase that contains 50 states, 500 cities.

Reviews

Write a Review

Financial Accounting Questions & Answers

  Financial statement analysis and preparation

Financial Statement Analysis and Preparation

  Shareholder of a company

Describe the ways that a person can become a shareholder of a company. Why Wal-Mart would split its stock?

  Financial and accounting principles

An understanding of financial and accounting principles can be a valuable tool for managers. While not all managers will find themselves calculating financial ratios or preparing annual financial data.

  Prepare a statement of cash flow using the direct method

Prepare a Statement of Cash Flow using the Direct Method and Prepare the Operations section of the Statement of Cash Flow using the Indirect Method.

  Financial accounting assignment

This assignment has one case study and two question apart from case study. Questions related to document Liquidation question and Company financial statements question - Torquay Limited

  Prepare general journal entries for goela

Prepare general journal entries for Goela Ltd

  Principles of financial accounting

Prepare the journal entry to record the acquisition of the assets.

  Prepare general journal entries to record the transactions

Prepare general journal entries to record the transactions, assuming use of the periodic inventory system

  Global reporting initiative

Compare the view espoused by the economist Milton Friedman about the social responsibilities of business with the views express by Stigler.

  Explain the iasb conceptual frameworks

Explain the IASB Conceptual Framework's perspective of users and their decisions.

  Determine the company''s financial statements

T he focus of the report is to determine the extent to which you are comfortable relying on the financial statements as presented by management .

  Computation of free cash flow

Computation of Free Cash Flow

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!

All rights reserved! Copyrights ©2019-2020 ExpertsMind IT Educational Pvt Ltd