User Account

All Pages

How much was the profit of abc partnership

Assignment Help Accounting Basics
Reference no: EM132759343

Problem 1: A, a partner in the ABC Partnership, has a 30% participation in partnership profits and losses. A's capital account has a net decrease of ?60,000 during the calendar year 20x1. During 20x1, A withdrew ?130,000 (charged against his capital account) and contributed property valued at ?25,000 to the partnership. How much was the profit of ABC Partnership in 20x1?

a. 150,000       c. 350,000

b. 233,333       d. 550,000

Reference no: EM132759343

Questions Cloud

Appropriate teambuilding and collaborative strategies : Describe an event that demonstrates demonstrates leadership, appropriate teambuilding and collaborative strategies to effectively
Which early fields led to formation of field of psychology : Which two early fields led to the formation of the field of psychology? After identifying those two fields, describe the study of each field and give.
Difference between growing annuity and a growing perpetuity : Discuss the difference between a growing annuity and a growing perpetuity. Provide an example of each. Also explain the annuity transformation method
Examine the effectiveness of motivating employees : Describe specific motivational techniques that could be used within your organization or one that interests you to improve work performances.
How much was the profit of abc partnership : How much was the profit of ABC Partnership in 20x1? A, a partner in the ABC Partnership, has a 30% participation in partnership profits and losses.
How many would the equivalent units for conversion costs be : If 10,000 units were transferred to the next processing center during the period, how many would the equivalent units for conversion costs be
How much is the ending balance of b capital account : How much is the ending balance of B's capital account? Monthly salary allowances of ?8,000 and ?40,000 to A and B, respectively, recognized as expenses.
Find the amount of manufacturing overhead allocated : Depreciation on plant machinery and equipment ?24,500. Find the amount of manufacturing overhead allocated to all jobs during June 2018 totals?
How qualitative study contributes to social work practice : Consider how the qualitative study contributes to social work practice and how this type of knowledge would fit into building evidence-based practice.

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