How much wally can collect from abby

Assignment Help Financial Accounting
Reference no: EM132956123

Problem a: Abby, Bobby, Cobby and Dibby owe Wally, Yolly and Zally P 9,000. On maturity, how much Wally can collect from Abby?

1. If debtors are joint and creditors are joint

a. P750         c. P3,000

b. P2,250       d. P9,000

2. If debtors are joint and creditors are solidary

a. P750            c. P3,000

b. P2,250         d. P9,000

3. If debtors are solidary and creditors are joint

a. P750             c. P3,000

b. P2,250          d. P9,000

Reference no: EM132956123

Questions Cloud

Do agree with ann method of comparing foreign companies : It was one o'clock in the morning, and Ann Schneider, What are some factors that must be consodered when conducting cross-country comparisons companies?
What are her total assets : Jasmine Smith owns a condo worth $275,000, a car valued at $34,000, and miscellaneous assets worth $11,000. What are her total assets
How much can yolly collect from bobby : Dibby in indebtedness is 1:2:3:4 and creditors Wally, Yolly and Zally is 2:3:5. How much can Yolly collect from Bobby if debtors joint and creditors are joint?
Find the Cash Paid for the purchase of marketable securities : All payments and proceeds relating to marketable securities transactions were in cash. Find the Cash Paid for the purchase of marketable securities
How much wally can collect from abby : Abby, Bobby, Cobby and Dibby owe Wally, Yolly and Zally P 9,000. On maturity, how much Wally can collect from Abby? If debtors are joint and creditors are joint
Determine the current balance on their home loan : As they do not wish to use LMI they will borrow 80% LVR on the investment property. You are required to determine the current balance on their home loan
How does the choice of type of company affect the taxes : How does the choice of type of company affect the taxes of a company? Explain how a labor performance cost index may be used to control labor costs.
Why real estate should be included in a well-diversified : Why real estate should be included in a well-diversified portfolio (also need help with referencing to historical real estate risk/return performance)
Describe the implications of each of the circumstances : Describe the implications of each of these circumstances, including any additional information or evidence that the auditors might require to resolve

Reviews

Write a Review

Financial Accounting Questions & Answers

  How much will pay in principal during the first year

You have just bought a house and taken out, How much will you pay in principal during the first year? How much will you pay in interest during the first year?

  Planning to save for retirement

You are planning to save for retirement over the next 30 years. To do this, you will invest $750 per month in a stock account and $250 per month in a bond account. The return of the stock account is expected to be 11% per year, and the bond account w..

  What items and amounts will appear on wiles income statement

What items and amounts will appear on Wiles Income Statement and Balance Sheet for the year ended December 31, 2020. Wiles reports using IFRS Standards.

  What is the dividend growth that supports the stock price

What is the dividend growth that supports this stock price, if dividend growth is constant? The expected dividend in one year is $4.00.

  What are the perils of historical premiums

In the United States, for example, there is a wealth of historical information by which to make such estimates. What are the perils of historical premiums?

  Project for development of a computer game software

1. List your proposed interventions in this situation, including the assumptions underlying each proposal. 2. Would you alter your proposals if the project was an internal project for development of a computer game software package scheduled ..

  What would be the one year rate of return on the investment

If one of Monet's paintings sold for $2.500,000 in 2018 and one year later resold for $3 200.000, what would be the one year rate of return on that investment?

  How to prepare marginal and absorption income statements

How to Prepare marginal and absorption income statements. The total manufacturing cost of making 1million car parts is $30 million.

  What are the effects on cash flow

What are the effects on cash flow, if variable costs increase to 55% of sales? (Input the amount as positive value. Enter your answer in dollars)

  Generally accepted accounting principles

Research, discuss, and explain five differences between GAAP (Generally Accepted Accounting Principles) and IFRS (International Accounting Standards Committee). Analyze the accounting implications with examples.

  Two companies filed a consolidated income tax return

River Co. owned 80% of Boat Inc. The two companies filed a consolidated income tax return and River used the initial value method to account for the investment. The following information was available from the two companies' financial statements

  Find the present value and the compound discount

Find the present value and the compound discount of $3206.51 due 7.5 years from now if money is worth 8.7% compounded annually

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