How much would sinads account increase or decrease

Assignment Help Financial Accounting
Reference no: EM132483493

Sabio, Sinad, and Triguero each receive a P100,000 salary, as well as 10% interest on their respective average investments of P600,000, P1,000,000, and P200,000. They share remaining profits and losses in a 2:1:3 ratio, respectively.

Question 1: By how much would Sinad's account increase or decrease (indicate a decrease by placing parenthesis), assuming a:

(a) profit of P720,000

(b) profit of P360,000 or

(c) loss of P360,000.

In addition, calculate (d) Sinad's share of a P2,700,000 profit if profit or loss distributions were based instead solely on the ratio of average capital investments.

Reference no: EM132483493

Questions Cloud

Hypothesis of zero difference between two population : If a 90% confidence interval for the difference in the two population means contains zero, then the null hypothesis of zero difference
What were net realizable values of the accounts receivable : An account receivable from Stuart Company of $150. The net realizable values of the accounts receivable before and after the write off were
Distributed in population-collinsville construction company : Collinsville Construction Company purchases steel rods for its projects. Based on previous tests, Claude Carter, Quality Assurance Manager, has recommended
Unit 35 Networking Management Solution : Unit 35 Networking Management Solution Assignment help and solution, Level 5 Pearson BTEC HND in Computing - assessment writing service
How much would sinads account increase or decrease : By how much would Sinad's account increase or decrease (indicate a decrease by placing parenthesis), assuming a profit of P720,000
What is the probability that all are introverts : 80% of all marketing personnel are extroverts, whereas about 70% of all computer programmers are introverts. Rounding your answer to three decimal places.
Create the current and long-term liability sections : Create the current and long-term liability sections of the December 31, 2019 balance sheet. Trade accounts payable on that date were $252,000
What is the probability that 10 or more are extroverts : Approximately 80% of all marketing personnel are extroverts, whereas about 70% of all computer programmers are introverts. Round answers to three decimal places
What is a cultural relativist : What is a cultural relativist? Could a cultural relativist argue that Meem's working conditions are immoral? Why or why not? Could a cultural relativist argue.

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