How should the available cash be distributed

Assignment Help Accounting Basics
Reference no: EM133054158

Question - The A, B and C partnership has total assets of P260,000. Capital balances for partners A, B, and C are P59,000, P30,000 and P50,000, respectively. The profit/loss percentages for partners A, B, and C are 30%, 40%, and 30%, respectively. Included in the liabilities is a P9,000 loan payable to A.

The partnership has elected to liquidate over the next several months. Liquidation expenses are estimated to be P15,000.

Requirement - Assuming assets with a book value of P80,000 were sold for P60,000 and that P160,000 cash is available, how should the available cash be distributed?

Reference no: EM133054158

Questions Cloud

What will happen to the share price on the first day : What will happen to the share price on the first day when registered owners are no longer eligible to receive the quarterly dividend
Record the entry for the maturity of the bonds on December : Brussels Enterprises issues bonds at par dated January 1, 2019, that have a $3,400,000 par value, Record the entry for the maturity of the bonds on December
Determine the contribution margin ratio : Variable costs are $10.24 per unit, and fixed costs are $131,700. Determine (a) the contribution margin ratio, (b) the unit contribution margin
Which is the number of first month : You borrowed $100,000 at 6% per year compounded monthly for 48 months. Which is the number of first month
How should the available cash be distributed : Assuming assets with a book value of P80,000 were sold for P60,000 and that P160,000 cash is available, how should the available cash be distributed
Compute the company CM ratio and its break-even point : Due to erratic sales of its sole product-a high-capacity battery for laptop computers-PEM, Compute the company CM ratio and its break-even point
What is the organization mission and vision : Revisit your Big Five personality assessment and the related journal assignment, and consider who you are as a leader. Think of the culture of an organization t
What would be the total cost for the units lost in process : Cost added by the department (Materials + Conversion): £6,500. What would be the total cost for the units lost in process
What is the organization mission and vision : Revisit your Big Five personality assessment and the related journal assignment, and consider who you are as a leader. Think of the culture of an organization t

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.

  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!

All rights reserved! Copyrights ©2019-2020 ExpertsMind IT Educational Pvt Ltd