Match her capital deficiency

Assignment Help Financial Accounting

Reference no: EM13144061

Mary ,Ann,and Tina formed a partnership with income-sharing ratios of 50%,30%,and 20%,respectinely.Cash of $300,000 was available after the partnership's assets were liquidated. Prior to the final distribution of cash,Mary's capital balance was $200,000,Ann's capital balance was $150,000,and Tina had a capital deficiency of $50,000.Assuming Tina contributes cash to match her capital deficiency,Mary should receive?

Reference no: EM13144061

Questions Cloud

Cumulative effect of this accounting change : At the beginning of 2007, a decision was made to change to the straight-line method of depreciation for this machine. Assuming a 30% tax rate, the cumulative effect of this accounting change, net of tax is?

What is relationship between inventory and cost of goods : What is the relationship between inventory and cost of goods sold by a pharmacy or medical supply business? Explain the depreciation concept. What items in a physician practice can be depreciated? What is the purpose?

What is the balance of irving capital account : The partnership pays Gast $100,000 cash for her partnership interst. After Gast's retirement, what is the balance of Irving's capital account?

What is the net present value of the investment : Income taxes are not considered in this problem. What is the net present value of the investment assuming the required rate of return is 10 percent? Would the company want to purchase the new machine?

Match her capital deficiency : Prior to the final distribution of cash,Mary's capital balance was $200,000,Ann's capital balance was $150,000,and Tina had a capital deficiency of $50,000. Assuming Tina contributes cash to match her capital deficiency, Mary should receive?

When there are branches in either the acid or the alcohol : When there are branches in either the acid or the alcohol, how do you name the ester formed from the reaction of these two? For example,

Tax-transfer policy affect aggregate demand at current price : Suppose the government decides to increase taxes by $30 billion in order to increase SocialSecurity benefits by the same amount. How will this combined tax-transfer policy affect aggregatedemand at current prices?

What total amount should the net assets acquired be record : All costs associated with consummating the combination totaled $65,000. Included in that amount were stock issue costs of $8,000, legal fees of $52,000, and secretarial costs of $3,000. At what total amount should the net assets acquired be record..

What is the balance of nance capital at rhe end of the year : Any remaining net income or net loss is shared equally. What is the balance of Nance's capital at rhe end of the year after net income has been distributed ?

User Account

All Pages