User Account

All Pages

What is the amount due to bang upon final settlement

Assignment Help Accounting Basics
Reference no: EM133028838

Question - Bang, Bing, and Bong formed a joint venture in 2010 to sell computers. They assigned Bing as the manager of the joint venture. They agreed to divide profits equally. They terminated the venture on December 21, 2011, with unsold merchandise. On this date, Bing's trial balance shows the following account balances before profit distribution: Debits: Joint Venture Cash P90,000, Joint Venture P23,500, Bong, Capital P15,600. Credit: Bang, Capital P32,500. Bing received P 5,300 as her share in the joint venture profit. Bing agreed to be charged for the unsold merchandise as of December 31, 2010. What is the amount due to Bang upon final settlement?

Reference no: EM133028838

Questions Cloud

How much must they invest at the end of each year : If they can earn 8% on their money, compounded annually, over the next four years, how much must they invest at the end of each year for the next four years
What is the annual percentage rate on this loan : An Indianapolis "payday" loan company will lend you that amount for two weeks, What is the Annual Percentage Rate on this loan
Strategy appropriates to mb global solution : GB Global Solution has just changed to a new management team. Currently, MB Solution is facing business challenge due to competitors' cost cutting.
Global standardization and local responsiveness : Bersyn employs many managers from different countries who become part of the corporate HQ staff, and a group of expatriates who will be assigned to different
What is the amount due to bang upon final settlement : Bing agreed to be charged for the unsold merchandise as of December 31, 2010. What is the amount due to Bang upon final settlement
Critical discussion - managing people and teams : What have you learnt and how will you apply this in the future? If you are currently working or have previous work experience, you may discuss how you would man
How much must it invest today : The International Monetary Fund is trying to raise $500 billion in 5 years for new funds to lend to developing countries. How much must it invest today
Assignment on docsystems billing case : Read the DocSystems Billing case, including the briefing document and four scenes, and consider the following questions:
Creating different test strategy : Please read the following article and provide your feedback on what other quality metrics different organizations use to define their success?

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