User Account

All Pages

What is the capital balance of H in the new partnership

Assignment Help Financial Accounting
Reference no: EM133006721

Question - J, H, and N are partners with present capital balances of $40,000, $50,000 and $20,000 respectively. The partners share profits and losses according to the following percentages: 50% for A, 20% for B, and 30% for C. D is to join the partnership upon contributing $55,000 to the partnership in exchange for a 35% interest in capital and a 20% interest in profits and losses.

An appraisal of the existing partnerships' assets reveals the following:

Accounts Receivable 20,000 overvalued;

Inventory 10,000 overvalued; Land 10,000 undervalued;

Building 15,000 undervalued.

Required - What is the capital balance of H in the new partnership assuming bonus method?

Reference no: EM133006721

Questions Cloud

What is the highest price that ford company should pay : Assuming no other use for the facilities, what is the highest price that Ford Company should be willing to pay for the part
Calculate the total risk for stock A and for stock B : Calculate the expected return for stock A and stock B. Calculate the total risk (variance and standard deviation) for stock A and for stock B
What are the major advantages of Fundamental investing : What are the major advantages of Fundamental investing? Why do we need the combination of Quant and Fundamental approaches
What is the total value of the firm : What is the total value of the firm with 50% debt? Do not round intermediate calculations. Enter your answer in millions
What is the capital balance of H in the new partnership : Accounts Receivable 20,000 overvalued; What is the capital balance of H in the new partnership assuming bonus method
What are the key elements to a proper accounting system : What are the key elements to a proper accounting system? What are the recent developments in accounting systems that are affecting modern organizations
Discuss the relationship between recruitment and selection : 1. Discuss the relationship between recruitment and selection.
Howard written employment contract : Howard's written employment contract was for a five-year term and it did not contain a termination clause. Halfway into his fixed term contract on a without cau
What is the after-tax amount an individual would receive : The personal tax rate on non-dividend income is 20%. What is the after-tax amount an individual would receive from the dividend

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