Solution-How much the partners should receive as a final

How much the partners should receive as a final payment

Assignment Help Financial Accounting

Reference no: EM132954564

Question - The ABC partnership has the following capital accounts on its books at December 31, 2017:

Credit A, Capital $200,000

B, Capital 120,000

C, Capital 40,000

All liabilities have been liquidated and the cash balance is zero. None of the partners have personal assets in excess of his personal liabilities. The partners share profits and losses in the ratio of 3:2:5. If the noncash assets are sold for $150,000, how much the partners should receive as a final payment?

A) A, $152,000; B, $88,000 C, $40,000

B) A, $128,000; B, $72,000; C, $ - 0 -

C) A, $152,000; B, $88,000; C, $ - 0 -

D) A, $60,000; B, $40,000; C, $100,000

Reference no: EM132954564

Questions Cloud

What should he consider in making his decision : A defined contribution plan. He will work for 10 more years. What should he consider in making his decision? Please provide at least three different aspects

What transaction will be rectified by recording in the : If a deposit is found on the bank statement that was erroneously processed on behalf of the business, this transaction will be rectified by recording it in the?

Arguments considered in favor of legalization : What were the arguments considered in favor of legalization? Are there any restrictions that are still in place with regard to prostitution?

Intervening in free markets to limit monopolies : A monopoly firm enjoys a great deal of market power. Is the government right in intervening in free markets to limit monopolies? Explain.

How much the partners should receive as a final payment : The partners share profits and losses in the ratio of 3:2:5. If the noncash assets are sold for $150,000, how much the partners should receive as final payment

What are saying about the implied return : Does it matter whether you grow the $100,000 at 50 percent to $150,000 and note it is 10 percent of $1.5 million, or discount the $1.5 million at 50 percent

What is the book value of the machineries : Question - The machinery account showed a record of RM45,750 and accumulated depreciation ofRM18,300. What is the book value of the machineries

Identify all relevant and irrelevant cash flows to lease : Identify all relevant and irrelevant cash flows to the lease versus buy decision. Categorize the cash flows into cash inflows and outflows

Calculate after-tax cash flow at disposal : Reversing Rapids has a tax rate of 30%. The asset is sold at the end of year 4 for $11,517. Calculate After-Tax Cash Flow at disposal

User Account

All Pages

How much the partners should receive as a final payment

Reference no: EM132954564

Reference no: EM132954564

Questions Cloud

Reviews

Write a Review

Financial Accounting Questions & Answers

Financial statement analysis and preparation

Shareholder of a company

Financial and accounting principles

Prepare a statement of cash flow using the direct method

Financial accounting assignment

Prepare general journal entries for goela

Principles of financial accounting

Prepare general journal entries to record the transactions

Global reporting initiative

Explain the iasb conceptual frameworks

Determine the company''s financial statements

Computation of free cash flow

Assured A++ Grade

Academics

Major Subjects

Majors

Get In Touch

TERMS & POLICIES

HELP & SUPPORT