User Account

All Pages

What is Landry capital balance after Neumark admittance

Assignment Help Accounting Basics
Reference no: EM132627487

Question - Elkins and Landry are partners who share income and losses in the ratio of 3:2, respectively. On August 31, their capital balances were: Elkins, $132000 and Landry, $128000. On that date, they agree to admit Neumark as a partner with a one-third capital interest. If Neumark invests $109000 in the partnership, what is Landry's capital balance after Neumark's admittance?

a. $122400

b. $123000

c. $128000

d. $120400

Reference no: EM132627487

Questions Cloud

Rangoon profit margin and debt ratio : DuPont equation: What are Rangoon's profit margin and debt ratio?
Find leverage ratios-breckenridge ski company : Calculate the company's debt-to-equity ratio and the equity multiplier.
Budgetary variance model : The service unit, or output, for this department is the number of procedures performed. A static budget was prepared at the beginning of the year.
Firm progress through the bankruptcy process : Explain how these structures can impact a firm's progress through the bankruptcy process.
What is Landry capital balance after Neumark admittance : On August 31, their capital balances were: Elkins, $132000 and Landry, $128000. What is Landry's capital balance after Neumark's admittance
Find the after-tax return to a corporation : Find the after-tax return to a corporation that buys a share of preferred stock at $45, sells it at year-end at $45, and receives
Compute the contribution margin ratio : The following information relates to the only product sold by Mastrolia Manufacturing. Sales price per unit$45
Determine and calculate the level of sales : Calculate the level of sales. Current liabilities $200,000. Inventory turnover 6 times. Quick ratio 1.4. Current ratio 1.5. Gross Profit Margin .25
Make the corresponding accounting record : Question - Computer equipment is acquired in cash for an amount of $12,400 plus 16% IVA. Make the corresponding accounting record

Reviews

Write a Review

Accounting Basics Questions & Answers

  Compute the internal conversion price indexes

Compute the internal conversion price indexes for 2017 and 2018

  Compute the gross profit or loss recognition

Pedone construction company began work on a contract in 2016. Compute the gross profit or loss recognition in 2016 and 2017

  Compute the anticipated break-even sales units assuming

currently the unit selling price is 50 the variable cost 34 and the total fixed costs 108000. a proposal is being

  Prepare a schedule showing depreciation amounts

Using the double-declining-balance method of depreciation, prepare a schedule showing depreciation amounts for the current year and the first 3 years

  Prepare the payroll for the first pay period of december

Prepare the payroll for the first pay period of December from Time Clerk's Report Nos. 46 and 47, and record the paychecks issued all employees

  Disadvantages of constructing versus purchasing assets

Imagine you are the senior accountant in the fixed assets department of your organization. Management is assessing the benefits of self-constructing.

  Calculate the amount of assets for company

Calculate the amount of assets for Company C on December 31, 2011. Calculate the amount of stock issuances for Company D during year 2011

  Record the bond issue on the given time period

If the market interest rate is 7%, the bonds will issue at $372,296. Record the bond issue on January 1, 2018, and the first two semiannual interest payments.

  Compute the ratio of ending inventory

Formworks Company prepares monthly budgets. The current budget plans for a September ending inventory of 15,000 units. Company policy is to end each month.

  Calculate the price/earnings ratio

Phelps, Inc., had assets of $67,646 and liabilities of $15,466 at the close of 2013 with 10,718 shares, Calculate the Price/Earnings Ratio for 2014

  Prepare a journal entry for the purchase of office supplies

Prepare a journal entry for the purchase of office supplies on November 2 for $2,700, paying $325 cash and the remainder on account.

  What is whisperings payout ratio

Assume that all balance sheet amounts represent average balance figures. What is Whispering's payout ratio

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