User Account

All Pages

What charlie capital should be

Assignment Help Financial Accounting
Reference no: EM132754560

Problem 1: Partners Charlie and Delta share profits in the ratio of 6:4 respectively. On December 31, 2018 their respective capital balances were Charlie, P120,000 and Delta, P100,000. On that date Mae was admitted as partner with a one-third interest in capital and profits for an investment of P80,000. The new partnership began in 2019 with total capital of P300,000. Immediately after Mae's admission, Charlie's capital should be:

a. P120,000
b. P108,000
c. P100,000
d. P160,000

Reference no: EM132754560

Questions Cloud

Describe access controls that you have utilized in career : Describe Access Controls that you have utilized in your career or personal life. APA formatting is expected for any references. Initial posts due.
What is the price of the american call : What is the price of the American call? Is there an early exercise premium for the American call? If so, what is the early exercise premium?
What amount should davao branch record its inventory : The books of the home office are closed on December 31 of each year. What amount should Davao branch record its inventory at December 31, 2018
Compare predictive analytics with prescriptive analytics : Compare and contrast predictive analytics with prescriptive and descriptive analytics. Use examples. Response should be 250-300 words and with references
What charlie capital should be : The new partnership began in 2019 with total capital of P300,000. Immediately after Mae's admission, Charlie's capital should be
Disease control and education plan : What percentage of population was affected by the disease? What measures would you suggest in the plan to actually reduce health risks?
How does the culture of socioeconomic status : How does the culture of socioeconomic status and poverty impact children and adolescents?
How would the first of available assets be distributed : How would the first P100,000 of available assets be distributed? The ABC Partnership has assets with book value of P240,000 and a market value of P195,000
What is the cost per finished unit of Job : During July, Marapao Company incurred the following costs on Job 109 for the manufacture of 200 motors: What is the cost per finished unit of Job 109

Reviews

Write a Review

Financial Accounting Questions & Answers

  Record the purchase of the treasury stock

Record the issuance of the common stock during 20X7. Determine retained earnings on 12/31/X7. Record the purchase of the treasury stock.

  Refundable child tax credit

Refundable Child Tax Credit. (Obj. 2) Pat and Diedra Dobson file a joint tax return for 2014. The Dobsons' AGI equals $30,700 of which $27,300 is taxable wages. The Dobsons take the standard deduction and claim dependency exemptions for their two tee..

  How would the organization identify the cost drivers

How would the organization use them in the implementation of this system? You may use your former or current company for the analysis.

  Produces and sells a single product

Hold Inc. produces and sells a single product. The selling price of the product is $110.00 per unit and its variable cost is $70 per unit.

  What is the present value of the investment

Amy will receive a lump sum payment of $87,500 and the property reverts to the lessee. At an interest rate of 5%, what is the present value of the investment?

  Value–weighted technology stock index

You want to form a value–weighted technology stock index using Apple, Google, and Yahoo. Apple's adjusted closing price for 2015 is $112.75 and for 2014 is $100.78; Google's adjusted closing price for 2015 is $647.82 and for 2014 is $582.36; Yahoo's ..

  What financial information about investment company holding

ACC201 - Financial Accounting Case study Assignment. What financial information about the investment company's holdings would be most relevant to you

  Find what is the addition to retained earnings

Burlington Exterminators Inc. has sales of $734,000, Suppose this firm paid out $85,000 in cash dividends. What is the addition to retained earnings?

  What inventory cost flow policy would expect

What inventory cost flow policy would you expect this company to adopt if it was trying to Report maximum inventory values on the balance sheet

  The generally accepted accounting principles

The accounting profession follows a set of guidelines for measurement and disclosure of financial information called the Generally Accepted Accounting Principles (GAAP). (1) Explain what the Stable-Monetary-Unit Assumption is (10 points) and (2) prov..

  Prepare the year end adjusting entry for uncollectible

Warner Company’s year-end unadjusted trial balance shows accounts receivable of $99,000, allowance for doubtful accounts of $600 (credit), and sales of $280,000. Uncollectible are estimated to be 1.5% of accounts receivable. Prepare the December 31 y..

  Debt to assets ratio entry field-acid-test ratio entry field

Partially correct answer. Your answer is partially correct. Try again. Grouper Company has been operating for several years, and on December 31, 2017, presented the following balance sheet. Current ratio Entry field with correct answer. Acid-test rat..

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