User Account

All Pages

What amount was the bonus debited in partner blake capital

Assignment Help Financial Accounting
Reference no: EM132934142

Problem 1: Blake, Paris, and Myra formed a partnership. Their capital balances showed the following: Blake, Capital - $252,000; Paris, Capital - $126,000; Myra, Capital - $42,000. Their profit and loss ratio are 6:3:1. The partners decide to sell 20% of their interest to Vanya for a total payment of $120,000. Vanya will pay the money directly to the other partners. What amount was the bonus debited or credited in partner Blake's capital account?

Reference no: EM132934142

Questions Cloud

Evolutionary significance of the pulmocutaneous circulation : Explain the selective advantage and evolutionary significance of the pulmocutaneous circulation of amphibians compared to fish.
Implementing development plan : What difficulties do you anticipate during the process of implementing your Individual Development Plan? How do you use appropriate coaching or mentoring
Calculate the cell density of cell : 1) An experiment was done in order to test the effect of nitrogen and phosphorus on algal bloom growth. 17 test tubes were set up with varying amounts of phosph
What would do you to save product costs : Brief description of the company. If you are a factory supervisor, what would do you to save product costs
What amount was the bonus debited in partner blake capital : The partners decide to sell 20% of their interest to Vanya, What amount was the bonus debited or credited in partner Blake's capital account?
Inheritance of incomplete dominant alleles and fetal testing : What are some interesting things about inheritance of incomplete dominant alleles and fetal testing?
What do you think contributes to all the numbers : What do you think contributes to all the numbers of minorities you mentioned being lower in Canada - where Some other nationalities like perhaps Asians
What is the principle of natural contraceptive methods : Botany is the study of species belonging to the Plantae kingdom, also known as plants. Kindly help in my class assignment by providing the necessary guidance th
How should incident be characterized : EZ Home and Hearth aims to foster a safe working environment, where incidents such as this one should not occur. How should this incident be characterized

Reviews

Write a Review

Financial Accounting Questions & Answers

  Financial statement analysis and preparation

Financial Statement Analysis and Preparation

  Shareholder of a company

Describe the ways that a person can become a shareholder of a company. Why Wal-Mart would split its stock?

  Financial and accounting principles

An understanding of financial and accounting principles can be a valuable tool for managers. While not all managers will find themselves calculating financial ratios or preparing annual financial data.

  Prepare a statement of cash flow using the direct method

Prepare a Statement of Cash Flow using the Direct Method and Prepare the Operations section of the Statement of Cash Flow using the Indirect Method.

  Financial accounting assignment

This assignment has one case study and two question apart from case study. Questions related to document Liquidation question and Company financial statements question - Torquay Limited

  Prepare general journal entries for goela

Prepare general journal entries for Goela Ltd

  Principles of financial accounting

Prepare the journal entry to record the acquisition of the assets.

  Prepare general journal entries to record the transactions

Prepare general journal entries to record the transactions, assuming use of the periodic inventory system

  Global reporting initiative

Compare the view espoused by the economist Milton Friedman about the social responsibilities of business with the views express by Stigler.

  Explain the iasb conceptual frameworks

Explain the IASB Conceptual Framework's perspective of users and their decisions.

  Determine the company''s financial statements

T he focus of the report is to determine the extent to which you are comfortable relying on the financial statements as presented by management .

  Computation of free cash flow

Computation of Free Cash Flow

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