Already have an account? Get multiple benefits of using own account!
Login in your account..!
Remember me
Don't have an account? Create your account in less than a minutes,
Forgot password? how can I recover my password now!
Enter right registered email to receive password!
Adam, Eve and Abel are partners in Suave Swimsuits. Profits and losses are shared in the ratio of 5:3:2. On 1 July 2002, when their capital balances stood at $50 000, $25 000 and $30 000 respectively, they agree to admit Cain to the partnership.
Required:
Question 1: Prepare the journal entry to record Cain's admission to the partnership under each of the following assumptions
1. Cain pays Eve $15 000 for 50% of her interest.
2. Cain pays Adam $10 000 and Abel $7500 for 25% of each of their interests.
3. Cain invests $20 000 cash in the partnership for a 10% interest.
4. Cain invests $20 000 cash in the partnership for a 20% interest.
5. Cain invests $45 000 cash in the partnership for a 30% interest.
calculation of inventory value and total manufacturing cost.the following information has been taken from the perpetual
What is the receivables turnover? How long did it take on average for credit customers to pay off their accounts during the past year?
Would you make the loan to the company in accordance with the stated terms? Explain. In responding, consider reasonableness of the company's projections, positive and negative factors affecting the industry and company.
What information were you able to glean about the financial situation of this company from the financials and how does this accounting information impact business decisions?
December 31 fiscal year end. Using the straight-line method, how much is the 2019 depreciation expense? (Enter only whole dollar values.)
Do you agree with the CEO's statement about profits? You are a business journalist reporting on the financial performance of companies.
With reference to the conceptual framework, and the debate over measurement in accounting. Using your allocated company discuss the issue of measurement
penury company offers two products. at present the following represents the usual results of a months
Champ Ltd. amortizes bond discount by the effective -interest method. The semiannual interest dates are June 30 and December 31
Stokes reported a loss of $60,000 for 2010, $40,000 from continuing operations and $20,000 from an extraordinary loss. The company still manages to pay a $10,000 cash dividend during the year.
The day the bonds hit the market, the bond price is quoted at 100. What is the bond's selling price and how does the company record this sale in its accounting information system?
Which financial instruments are classified as cash equivalents, and as available-for-sale? What is the threshold of the maturities of marketable debt securities to be classified as long-term?
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!
whatsapp: +1-415-670-9521
Phone: +1-415-670-9521
Email: [email protected]
All rights reserved! Copyrights ©2019-2020 ExpertsMind IT Educational Pvt Ltd