User Account

All Pages

What is Roger capital balance after closing Income Summary

Assignment Help Accounting Basics
Reference no: EM132675619

Question - Paul and Roger are partners who share income in the ratio of 3:2. Their capital balances are $90,000 and $130,000, respectively. Income Summary has a credit balance of $50,000 after the second closing entry. What is Roger's capital balance after closing Income Summary to the capital accounts?

Reference no: EM132675619

Questions Cloud

How much will be reported as prepaid rent : Bags Bunny, Inc., paid $27,000 for eight months rent beginning in January. How much will be reported as Prepaid Rent on its balance sheet at January 31
Create an application that can be used to practice adding : Create an application that can be used to practice adding, subtracting, multiplying, and dividing numbers.
Why quality data model is needed : Why a quality data model is needed? Explain QDM's importance in healthcare information system using examples you have seen
Construct an original gantt chart for the project : Construct an original Gantt chart for the project using project activities and Conduct a critical path analysis and carefully apply the 3-point estimate
What is Roger capital balance after closing Income Summary : Income Summary has a credit balance of $50,000 after the second closing entry. What is Roger's capital balance after closing Income Summary to capital account
Create application that can be used to practice adding : Create an application that can be used to practice adding, subtracting, multiplying, and dividing numbers.
Determine the total activity cost and activity cost per unit : Use the activity rate and usage information to determine the total activity cost and activity cost per unit for each product
Safeguard the organization : Discuss an organization's need for physical security. explain how these security measures will safeguard the organization.
Determine the tax base of the liability : Determine the tax base of the liability. Also, discuss the related rationale based on the definition of the tax base of liabilities

Reviews

Write a Review

Accounting Basics Questions & Answers

  How much control does fed have over this longer real rate

Hubbard argues that the Fed can control the Fed funds rate, but the interest rate that is important for the economy is a longer-term real rate of interest.   How much control does the Fed have over this longer real rate?

  Coures:- fundamental accounting principles

Coures:- Fundamental Accounting Principles: - Explain the goals and uses of special journals.

  Accounting problems

Accounting problems,  Draw a detailed timeline incorporating the dividends, calculate    the exact Payback Period  b)   the discounted Payback Period. the IRR,  the NPV, the Profitability Index.

  Theory of interest - term structure of interest rates

Term Structure of Interest Rates

  Write a report on internal controls

Write a report on Internal Controls

  Prepare the bank reconciliation for company

Prepare the bank reconciliation for company.

  Cost-benefit analysis

Create a cost-benefit analysis to evaluate the project

  Theory of interest

Theory of Interest: NPV, IRR, Nominal and Real, Amortization, Sinking Fund, TWRR, DWRR

  Liquidity and profitability

Distinguish between liquidity and profitability.

  What is the expected risk premium on the portfolio

Your Corp, Inc. has a corporate tax rate of 35%. Please calculate their after tax cost of debt expressed as a percentage. Your Corp, Inc. has several outstanding bond issues all of which require semiannual interest payments.

  Simple interest and compound interest

Simple Interest, Compound interest, discount rate, force of interest, AV, PV

  Capm and venture capital

CAPM and Venture Capital

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