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

  Confidence interval for the mean difference

Using the summary statistics in Exercise 4, and assuming that the data come from a distribution that is Normally distributed, a) Find a 95% confidence interval for the mean difference in page views from the two websites.

  Distributions firsttier or secondtier distributions

a. How much of the $150,000 distributed to Renee is included in her gross income? b. How much of the $30,000 distributed to Clare is included in her gross income? c. Are these distributions firsttier or secondtier distributions?

  Number of common shares issued and outstanding

Shamrock Inc. uses a calendar year for financial reporting. The company is authorized to issue 9,000,000 shares of $12 par common stock.

  Compute the annual straight-line depreciation and provide

golden sales has bought 135000 in fixed assets on january 1st associated with sales equipment. the residual value of

  Prior to the last weekly payroll period of the calendar

prior to the last weekly payroll period of the calendar year the cumulative earnings of employees a and b are 106150

  Supreme celery corporation manufactures four celery based

supreme celery corporation manufactures four celery based products. floods and fire on the west coast are going to

  Studying marketing cost and sales volume

Temperance, Inc. is studying marketing cost and sales volume, and has generated the following information by use of a scatter diagram and a least-squares regression analysis. Temperance is now preparing an estimate for monthly 20000 units on t..

  The accounting supervisor of herfurth amp sons believes the

research the following questions and give authoritative support for your answer?1. the accounting supervisor of

  System of internal controls

The Sarbanes-Oxley Act requires that all publicly traded companies maintain a system of internal controls. Internal controls can be defined as a plan to

  Determine the amount of interest to be capitalized

Capitalization of Interest) On December 31, 2009, Hurston Inc. borrowed $3,000,000, Determine the amount of interest to be capitalized in 2010

  Great plains transportation inc is considering acquiring

great plains transportation inc. is considering acquiring equipment at a cost of 246000. the equipment has an estimated

  Determine the simple rate of return on the investment

Hinck Corporation is investigating automating a process by purchasing a new machine for $521,000 that would have a 5 year useful life and no salvage value.

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