User Account

All Pages

What is the ending capital of a after distribution of profit

Assignment Help Accounting Basics
Reference no: EM133160960

Question 1 - Partners A, B, C and D formed a partnership on January 1, 2019 with original investments P100,000; P200,000; P300,000 and P400,000, respectively. On January 1, 2021, their capital balances are P150,000; P250,000; P250,000 and P350,000, respectively. On July 1, 2021, A added P200,000 investment, B added P100,000 investment and C added P100,000. The partnership profit for year ending 2021 is P1,000,000. What is the ending capital of A after distribution of profit?

Question 2 - Partners D, E, F and G formed a partnership on January 1, 2019 with original investments P100,000; P200,000; P300,000 and P400,000, respectively. The partners agreed to divide profits by allowing 10% interest on capital balances at the beginning of the year and any remainder is to be divided according to average capital balances. On January 1, 2021, their capital balances are P150,000; P250,000; P250,000 and P350,000, respectively. On July 1, 2021, D added P200,000 investment, E added P100,000 investment and F added P100,000. The partnership profit for year ending 2021 is P1,000,000. After distribution of profit, which of the following is NOT an ending capital balance of any partner?

Question 3 - Partners J, K, L and M formed a partnership on January 1, 2019 with original investments P100,000; P200,000; P300,000 and P400,000, respectively. The partners agreed to divide profits by allowing 10% interest on capital balances at the beginning of the year, 25% bonus before interest and bonus to M and any remainder is to be divided according to average capital balances. On January 1, 2021, their capital balances are P150,000; P250,000; P250,000 and P350,000, respectively. On July 1, 2021, J added P200,000 investment, K added P100,000 investment and L added P100,000. The partnership profit for year ending 2021 is P1,000,000. After distribution of profit, which of the following is NOT an ending capital balance of any partner?

Question 4 - Partners O, P, Q and R formed a partnership on January 1, 2019 with original investments P100,000; P200,000; P300,000 and P400,000, respectively. The partners agreed to divide profits by allowing 10% interest on capital balances at the beginning of the year, 25% bonus before bonus to R and any remainder is to be divided according to average capital balances. On January 1, 2020, their capital balances are P125,000; P225,000; P225,000 and P300,000, respectively. On July 1, 2020, O added P175,000 investment, P added P75,000 investment and Q added P75,000. The partnership profit for year ending 2020 is P500,000. After distribution of profit, the capital balances at December 31, 2020 were P150,000; P250,000; P250,000 and P350,000, respectively. Before end of 2020, what is the amount withdrawn by R?

Reference no: EM133160960

Questions Cloud

What is the NPV of the Spanish project : Evaluating projects with unequal lives - What is the NPV of the Canadian project, using the replacement chain approach
Factors affecting the union-management relationship : What is the meaning and significance of each of the following: intra-organizational bargaining, distributive bargaining, integrative bargaining and attitudinal
Analyze the approach microsoft and merrill lynch : Analyze the approach Microsoft and Merrill Lynch use to pay their staff. Infer its compensation strategy using any three of the five dimensions
What is the applied overhead for the year : The actual direct labour hours used for the year turns out to be 47,000 hours. What is the applied overhead for the year
What is the ending capital of a after distribution of profit : The partnership profit for year ending 2021 is P1,000,000. What is the ending capital of A after distribution of profit
Discuss whether the methodology is universally applicable : 1. What is gamification? 2. Describe its main advantages and disadvantages.
Explain the company selection process : Khalid is an applicant who just passed the company's selection process. Assume you are the company's HR director and make for Khalid the followings:
Cornerstone of human resource management : 1. Reference the Case Study named, If You Do Not Want to Lead the Orchestra
What is the non-controlling interest in net income : The merchandise was later resold by P to outsiders for P15,000 during 2020. For consolidation purposes, what is the non-controlling interest in net income of S

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