User Account

All Pages

What is share of taylor and swift respectively in net los

Assignment Help Financial Accounting
Reference no: EM132739830

Problem 1: On March 31, 2020, TAYLOR and SWIFT contributed cash of ?100,000 and ?75,000, respectively. They agreed that profit will be distributed equally. During the year, the business had a net loss of ? 50,000. What is the share of Taylor and Swift, respectively in the net loss?

a. ? (25,000) and (25,000)
b. no share is to be given because it's a loss
c. ? (28,571) and (21,429)
d. ? (18,750) and (18,750)

Reference no: EM132739830

Questions Cloud

Rational investors do not like the risk : Critically evaluate the following statement. "Rational investors do not like the risk."
How much is net income for year ended for bruno mars : Owner's equity - ?375,000; wages expense - ?60,000. How much is the net income for the year ended? What The ending inventory is?
Identified at the crime scene : Examine how that type of evidence is recognized and identified at the crime scene. Discuss any field tests used for your chosen type of evidence.
Determine the non-controlling interest : Determine the non-Controlling Interest arising on consolidation is to be valued on the full (fair value) basis or full/gross-up goodwill
What is share of taylor and swift respectively in net los : TAYLOR and SWIFT, During the year, the business had a net loss of ? 50,000. What is the share of Taylor and Swift, respectively in the net loss?
Find how much is the total assets of the partnership : KATY, a sole proprietor wanted to expand her profitable busines. How much is the total assets of the partnership after the formation?
What is the importance of organization of hiring employees : What is importance of an organization of hiring ethically-responsible employees and risks that arise when an organization utilizes ineffective hiring practices
Find how much should perry contribute to the partnership : Find how much should Perry contribute to the partnership? KATY, sole proprietor wanted to expand her profitable business but she does not have enough resources.
Find how much is adjusted capital of katy : 2% allowance for bad debts should be recognized, (b) the inventories have fair market value equal to 120% of the balance. How much is adjusted capital of Katy?

Reviews

Write a Review

Financial Accounting Questions & Answers

  Financial statement analysis and preparation

Financial Statement Analysis and Preparation

  Shareholder of a company

Describe the ways that a person can become a shareholder of a company. Why Wal-Mart would split its stock?

  Financial and accounting principles

An understanding of financial and accounting principles can be a valuable tool for managers. While not all managers will find themselves calculating financial ratios or preparing annual financial data.

  Prepare a statement of cash flow using the direct method

Prepare a Statement of Cash Flow using the Direct Method and Prepare the Operations section of the Statement of Cash Flow using the Indirect Method.

  Financial accounting assignment

This assignment has one case study and two question apart from case study. Questions related to document Liquidation question and Company financial statements question - Torquay Limited

  Prepare general journal entries for goela

Prepare general journal entries for Goela Ltd

  Principles of financial accounting

Prepare the journal entry to record the acquisition of the assets.

  Prepare general journal entries to record the transactions

Prepare general journal entries to record the transactions, assuming use of the periodic inventory system

  Global reporting initiative

Compare the view espoused by the economist Milton Friedman about the social responsibilities of business with the views express by Stigler.

  Explain the iasb conceptual frameworks

Explain the IASB Conceptual Framework's perspective of users and their decisions.

  Determine the company''s financial statements

T he focus of the report is to determine the extent to which you are comfortable relying on the financial statements as presented by management .

  Computation of free cash flow

Computation of Free Cash Flow

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