What entry is made by the partnership for this transaction

Assignment Help Accounting Basics
Reference no: EM131131212

1. Tracy Harper has a $39,000 capital balance in a partnership. She sells her interest to Kim Remington for $45,000 cash. What entry is made by the partnership for this transaction?

Reference no: EM131131212

Questions Cloud

How is a deceased partners equity determined : How is a deceased partner’s equity determined?
Determine the supply of labor in a market : What are some of the factors that determine the supply of labor in a market? What significant factors have changed the supply of labor over the last twenty years?
How much of perrys bonus is debited to newlins capital : Assuming that the income-sharing ratios are 5:3:2, respectively, how much of Perry's bonus is debited to Newlin's capital account?
Physical and academic difficulties associated with the chose : Please choose once task for each section to complete- Respond to this thread as to what task you will be completing- Please make sure to read your peers responses so we do not have team members completing the same tasks.
What entry is made by the partnership for this transaction : Tracy Harper has a $39,000 capital balance in a partnership. She sells her interest to Kim Remington for $45,000 cash. What entry is made by the partnership for this transaction?
What is the effect on the money supply : What is the effect on the money supply?
Identify and explain action-adventure theme : Identify and explain Action/Adventure theme. What is the justification for this focus? Identify three films that will serve as the main event for the festival. Each film must relate back to the theme.
What journal entry is made by the partnership to record : Assuming that Grant has a $66,000 capital balance in the partnership, what journal entry is made by the partnership to record this transaction?
Write a short essay on a global health publication : I need help writing a short essay on a global health publication.

Reviews

Write a Review

Accounting Basics Questions & Answers

  Uninterrupted export contractions in usd terms

Malaysia, a key petroleum and liquefied gas exporter, has seen uninterrupted export contractions in USD terms since October 2014, as prices for petroleum products and palm oils remain stuck at historical lows.

  The total amount of patent cost amortized to date is usually

The total amount of patent cost amortized to date is usually

  Return on assets operating profit after tax total assets

Provide an executive summary of your companys background relating to business structure, operations, services and all other business activities that are conducted, etc.

  Determine whether all of the accounts are listed

Based upon the following information, compute total assets, total liabilities, and total capital; in addition, determine whether all of the accounts are listed.

  Overhead costs consist of machining

Donkey Company manufactures two products, Standard and DeLuxe. Donkey's overhead costs consist of machining, $2,000,000; and assembling, $1,000,000. Information on the two products is:

  Kirk is employed by an accounting firm and uses his

kirk is employed by an accounting firm and uses his automobile in connection with his work. during the month of october

  Budget request assignment

1. The Department of Revenue wants to add more people to the unit that attempts to collect unpaid taxes through telephone contact. As a budget analyst, what questions would you ask after you receive and review the following request? Be specific, ..

  What is the balance in the cash account

Prepare bank reconciliation. A comparison of the checks written with the checks that have cleared the bank shows outstanding checks of $ 700. Some of the checks that cleared in June were written prior to June. No deposits in transit were noted in May..

  Where there is evidence that the utility of goods in their

where there is evidence that the utility of goods in their disposal in the ordinary course of business will be less

  Prepare retained earnings and stockholders equity

The stockholders' equity accounts of Hashmi Company at January 1, 2008, are as follows. Prepare a retained earnings statement for the year. (List multiple entries in descending order of amount.) Prepare a stockholders' equity section at December 31, ..

  Please write a report about the socialcultural and economic

please write a report about the socialcultural and economic issues that relate to doing business in the united states

  Both companies use a perpetual inventory system

Both companies use a perpetual inventory system, have a September 30 year-end, and a 30% tax rate. Madison uses the entity theory method for consolidation.

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!

All rights reserved! Copyrights ©2019-2020 ExpertsMind IT Educational Pvt Ltd