User Account

All Pages

How much should hermes receive as final settlement

Assignment Help Accounting Basics
Reference no: EM132954579

Question - On January 1, 2016, partners Hermes, Coach, Louis intitially contributed P200,00: P300,000 and P400,00, respectively. They agreed to allow 10% interest on capital balances at beginning of the year, and any remaining balance of the profit is to be divided according to their average capital balances during the year. For the years 2016 to 2019, the partnership profits are P500,000; P800,000; P1,200,000; and P2,000,000. It all non-cash are realized at carrying amounts and all the partnership liabilities paid, how much should Hermes receive as final settlement in the partnership?

Reference no: EM132954579

Questions Cloud

Find the average time in the queue for each arrival : Service times are random (exponential) and average 4 minutes per arrival. Find the average time in the queue for each arrival
How many years will take you to reach goal : Your last deposit will be less than $1,500 if less is needed to round out to $10,000. How many years will it take you to reach your $10,000 goal?
Value of average total cost and average variable cost : 1.Please explain in more words following TRUE or FALSE questions. Answers need to be supported with an economic model.
Determine the amounts that should be recognised in profit : Determine the amounts that should be recognised in profit or loss and other comprehensive income for the years ended 31st December 2017 and 31st December 2018
How much should hermes receive as final settlement : It all non-cash are realized at carrying amounts and all the partnership liabilities paid, how much should Hermes receive as final settlement in the partnership
Find out the value of sales : Find out the value of sales if all three companies operating income is 10% of cost of goods sold, cost of goods sold is equal to gross profit in all economics
How might impact the financial statement reviewed : Considering the size of the investment ($500,000 infusion), provide a conclusion on how it might impact the financial statement reviewed in Unit
How the cost of decommissioning the oil rig should be : Explain how the cost of decommissioning the oil rig should be treated in the financial statements for the year ended 31 December Year 1
What is the main objective of the audit : What is the main objective of the audit of an entity's financial statements? Why is there a need for the CPA firm to understand the business of the audit client

Reviews

Write a Review

Accounting Basics Questions & Answers

  How much control does fed have over this longer real rate

Hubbard argues that the Fed can control the Fed funds rate, but the interest rate that is important for the economy is a longer-term real rate of interest.   How much control does the Fed have over this longer real rate?

  Coures:- fundamental accounting principles

Coures:- Fundamental Accounting Principles: - Explain the goals and uses of special journals.

  Accounting problems

Accounting problems,  Draw a detailed timeline incorporating the dividends, calculate    the exact Payback Period  b)   the discounted Payback Period. the IRR,  the NPV, the Profitability Index.

  Theory of interest - term structure of interest rates

Term Structure of Interest Rates

  Write a report on internal controls

Write a report on Internal Controls

  Prepare the bank reconciliation for company

Prepare the bank reconciliation for company.

  Cost-benefit analysis

Create a cost-benefit analysis to evaluate the project

  Theory of interest

Theory of Interest: NPV, IRR, Nominal and Real, Amortization, Sinking Fund, TWRR, DWRR

  Liquidity and profitability

Distinguish between liquidity and profitability.

  What is the expected risk premium on the portfolio

Your Corp, Inc. has a corporate tax rate of 35%. Please calculate their after tax cost of debt expressed as a percentage. Your Corp, Inc. has several outstanding bond issues all of which require semiannual interest payments.

  Simple interest and compound interest

Simple Interest, Compound interest, discount rate, force of interest, AV, PV

  Capm and venture capital

CAPM and Venture Capital

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