How would this amount be distributed to the other partners

Assignment Help Accounting Basics
Reference no: EM132942731

Question - A local dental partnership has been liquidated and the final capital balances are Atkinso, capital 40% of all profits are losses => $85,000

Kaporale, capital 30% => 45,000

Dennsmore, capital 20% => (61,000)

Rasputin, capital 10% => ( 69000)

If Rasputin contributes cash of $21,500 to the partnership, how would this amount be distributed to the other partners?

1. Cash distribution for Atkinson?

2. Cash distribution for Kaporate?

3. Cash distribution Dennsmore?

4. Cash distribution for Rasputin?

Reference no: EM132942731

Questions Cloud

What are the company total liabilities : Property, plant, and equipment: $35,000 Accumulated depreciation: $2,000 Accounts payable: $5,000. What are the company total liabilities
Hofstede six dimensions of organizational culture : What do you see as the relationship between Hofstede's six dimensions of organizational culture and leadership style and strategy?
How many shares of common stock are outstanding now : How many shares of common stock are outstanding now? If a $ 2 per share dividend were declared today, how many dollars would the corporation need to pay it
Calculate the expected returns of the alternatives : Assume that there are two alternatives to invest your 100,000 TL. In the first alternative, you borrow an additional 15,000 TL from the brokerage house with an
How would this amount be distributed to the other partners : If Rasputin contributes cash of $21,500 to the partnership, how would this amount be distributed to the other partners
What impact has covid had on workplace : Problem statement: What impact has covid had on workplace/teamwork?
Find the five-number summary : The following data set contains the number of calories 16 items at a fast-food chain. Show your work for all calculations.
Find out the price of the bond : If the yield to maturity is 10% then find out the price of the bond? Upon calculation of the price please specify what type of a bond is this
Compute the annual depreciation rate and charge : Using each of the following methods, compute the annual depreciation rate and charge for the years ended December 31, 2019 and 2020

Reviews

Write a Review

Accounting Basics Questions & Answers

  The average price of a gallon of gas in 2005 jumped 035 20

the average price of a gallon of gas in 2005 jumped 0.35 20 percent from 1.71 in 2004 to 2 in 2005. lets see whether

  Estimated life of five years and estimated residual value

The machinery has an estimated life of five years and an estimated residual value of $4,365. What is B's 2016 depreciation expense?

  Estimate a cost formula for power cost.

Prepare a scattergraph by plotting ingots processed and power cost on a graph. Draw a straight line though the two data points that correspond to the high and low levels of activity. Make sure your line intersects the Y-axis.

  Tony companys bank reconciliation at the end of january2006

nbspthe bookkeeper at tony company has asked you to prepare a bankreconciliation as of february 28 2006. the february

  How many boxes of lettuce should the supermarket purchase

The local supermarket buys lettuce each day to ensure really fresh produce. How many boxes of lettuce should the supermarket purchase tomorrow?

  Record the correcting entries in year

This overstatement of pretax income was material. The related income tax effect of this error was $12,000 for Year 1. Record the correcting entries in Year 2

  By what percentage can transcan increase

TransCan generated sales of $5.4 million. By what percentage can TransCan increase its sales before full capacity is reached

  How much is the disclosed equity in assigned accounts

How much is the disclosed equity in assigned accounts as of the end of the first month- What is the total amount collected from the customer on December 31

  What is the annual breakeven point in units sold

What is the annual breakeven point in (a) units sold and (b) revenues

  Doering company, a u. s. corporation with customers

Doering Company, a U. S. corporation with customers in several foreign countries, had the following selected transactions for 2013 and 2014. 2013 Apr. 8 Sold merchandise to Salinas & Sons of Mexico for $ 5,938 cash.

  Business tries to attract and hire the right people

Every business tries to attract and hire the right people for the job they seeking. However, most managers or temporary services are not fully trained properly on avoiding violating anti-discrimination laws when hiring someone (Corbin, & Duvall, ..

  Shannon inc has been manufacturing its own shades for its

shannon inc. has been manufacturing its own shades for its table lamps. the company is currently operating at 100 of

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