User Account

All Pages

Preliminary distribution of partnership assets

Assignment Help Accounting Basics
Reference no: EM133246895

The following balance sheet is for a partnership in which the partners have decided to terminate operations and liquidate assets. The partners estimate liquidation expenses will be $11,000

Cash $100,000 Liabilities $50,000

Noncash assets 230,000 Arch, Cap. (40%) 100,000

Bibb, Cap. (20%) 50,000

Doa, Cap (40%) 130,000

Total assets $330,000 Total labilities and capital $330,000

Put together a schedule of liquidation to carry out a preliminary distribution of partnership assets at the date of termination.

Cash Noncash Assets Liabilities Arch, Cap40% Bibb, Cap 20%Dao, Cap 40%

Beginning balances

Pay liabilities

Max. liquidation expenses

Max. loss-noncash assets

initial safe payments

Reference no: EM133246895

Questions Cloud

Prepare entries in journal form without explanations : Blofish Corporation had 150,000 shares of $1 par value common stock outstanding. These shares were sold soon after IPO in March 2010, at $4 per share. The follo
Discuss the client and assessment of key risks : Aerospace Lighting Inc. (ALI)-previously a private company based in Chicago-has been a leading supplier of airplane cabin lighting systems for nearly ten years.
Which factor have been predominant in shaping us health care : Which factors have been predominant in shaping the US Health Care? List the main reasons why national health insurance has not materialized in United States.
Financial interest in potential client : Assume that you have been employed for approximately one year full-time on the auditing staff of DeLargett and Tasche, CPA's. The firm is considering a new audi
Preliminary distribution of partnership assets : The following balance sheet is for a partnership in which the partners have decided to terminate operations and liquidate assets. The partners estimate liquidat
Would there be an impact if payment sources were changed : 1. Would your proposal have an effect on profitability, financial resources, return on investment (ROI), and the rising costs of health care?
Journalize the purchase transactions : Requirement 1. Journalize the purchase transactions. Explanations are not required. ?(Assume the company uses a perpetual inventory system. Record debits? first
How model be applied to another water-related health problem : How could this model be applied to another water-related health problem? What are the challenges to using social marketing in household sanitation adoption?
Common management biases section of module : Sun City Boards CEO Tom Wilson is fond of saying that as a leader and manager, he's a work in progress. His attitude reflects not only humility and a sense of h

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