User Account

All Pages

What amounts should be credited to Louis capital account

Assignment Help Managerial Accounting
Reference no: EM133121891

Question - Solange ad Louis enter into a partnership agreement. Solange contributes $65,000 in capital. Louis contributes $95,000 in capital.  The agreement stipulates that profits and losses will be shared in the ration of their respective capital account balances.  The net income for the year s $32,000. What amounts should be credited to Louis's capital account?

A. 19,000

B. 13,000

C. 16,000

D. 32,000

Reference no: EM133121891

Questions Cloud

Explain the valuation of the firm : Current market value analysis is usually accurate as investors ignore overvalued stock in the marketplace. Do you agree? Explain your reasoning.
What is the annual cash flow using gross book value method : Rustic Corporation bought a new machine for $360,000. What is the annual cash flow using the gross book value method
Compute an amortization schedule : Compute an amortization schedule for a $25000, 10 year annual amortization loan, paying 7.4%. Payments are to be made at the beginning of the year.
Expected return and standard deviation of portfolio : Briefly describe any way(s) that the risk of this portfolio may be reduced? Be specific and show calculations.
What amounts should be credited to Louis capital account : The agreement stipulates that profits and losses will be shared in the ration of their respective capital account balances. What amounts should be credited
What would be the net present value of a microwave oven : What would be the net present value of a microwave oven that costs $188 and will save you $78 a year in time and food away from home
What are multivariate models : What are multivariate models? Explain with the help of an regression equation the difference between univariate and multi-variate regression model.
Prepare an estimated cash budget : Prepare an estimated cash budget for 3 months from January to March and show the surplus and deficit. The cash balance as on lst January is Rs 30,000.
How much will you make on each bond : How much will you make on each bond if you buy? it, hold it for one? year, and then sell it assuming that the? dollar/euro exchange rate falls

Reviews

Write a Review

Managerial Accounting Questions & Answers

  Manage budgets and financial plans

Explain the budgeting process and its importance to a business, identifying the components of different budgets, forecast estimates for inclusion in the budgets.

  Prepare a retained earnings statement

Prepare a retained earnings statement for the year and Prepare a stockholders' equity section of given case.

  Prepare a master budget for the three-month period

Prepare a master budget for the three-month period.

  Construct the companys direct labor budget

Construct the company's direct labor budget for the upcoming fiscal year, assuming that the direct labor workforce is adjusted each quarter to match the number of hours required to produce the forecasted number of units produced.

  Evaluate the predetermined overhead rate

Evaluate the Predetermined Overhead Rate

  Determine the company''s bid

Determine the company's bid if activity-based costing is used and the bid is based upon full manufacturing cost plus 30 percent.

  Compute the pool rates for the different activities

Complete the schedule to compute the pool rates for the different activities.

  Prepare Company financial statements

Prepare Company financial statements

  Prepare an analysis of terracycles

This individual assignment is based on the TerraCycle Inc.

  Discuss the ethical issues

Discuss the ethical issues

  Political resources in emerging markets

Calculate the GDP in Income Approach  and Expenditure Approach

  Management accounting - ehsan electronics company

A new plant accountant suggested that the company may be able to assign support costs to products more accurately by using an activity based costing system that relies on a separate rate for each manufacturing activity that causes support costs.

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