User Account

All Pages

What is the capital balance of d after the admission

Assignment Help Financial Accounting
Reference no: EM132616124

On december 31, 2020, the statement of financial position of abc partnership provided the following data with profit or loss ratio of 1:6:3:

Current liabilities 1,000,000

noncurrent assets 2,000,000

total liabilities 600,000

a, capital 900,000

b, capital 800,000

c, capital 700,000

on january 1, 2021, D is admitted to the partnership by purchasing 40% of the capital interest of the partnership at a price of 500,000.

Question 1: What is the capital balance of D after his admission on january 1, 2021?

Question 2: Assuming there is an implied asset revaluation upward/downward, what is the capital balance of c after admission of d on January 1, 2021?

Reference no: EM132616124

Questions Cloud

Implementing your individual development plan : What difficulties do you anticipate during the process of implementing your Individual Development Plan?
Calculate provision for unrealized profit : Calculate Provision for Unrealized Profit and Prepare a consolidated statement of profit or loss and other comprehensive income for the year 31. December 2019
Tightly controlled every part of life and government : Aristotle defined tyranny as an illegitimate form of government by one individual that tightly controlled every part of life and government.
Eliminating performance appraisals : The effectiveness of the performance appraisal is often a topic of debate. Read the Forbes article, "Eliminating Performance Appraisals".
What is the capital balance of d after the admission : Assuming there is an implied asset revaluation upward/downward, what is the capital balance of c after admission of d on January 1, 2021?
Human resource planning and organizational strategy : Discuss the relationship between human resource planning activities and the organization's strategic development and implementation.
Calculate profit after tax attributable to parent : Calculate Profit after tax attributable to Parent and Non-controlling interest and Calculate total comprehensive income for the year to Parent
Present value of dividends during the rapid growth period : Find the present value of the dividends during the rapid growth period. What is the price of the share at the end of year 5?
Absolute advantage and comparative advantage trade theories : Distinguish between absolute advantage and comparative advantage trade theories and give examples.

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