User Account

All Pages

What is the partnership agreed capital

Assignment Help Accounting Basics
Reference no: EM132785739

Problem 1: The Mac-Don-Ald Partnership is being liquidated. All liabilities have been paid and the remaining assets are being realized gradually. The equity of the partners is as follows: MAC: Capital - ?33,000, Loans Payable -?7,000, P&L Ratio - 2; DON: Capital - ?42,000, P&L Ratio - 3; ALD: Capital - ?95,000, Loans Receivable -?15,000, P&L Ratio - 5. The second cash payment to any partner/s under program of priorities shall be made thus:

A. To Ald - ?10,000
B. To Mac - ?6,000
C. To Mac -?4,000
D. To Mac -?4,000 and Ald -?10,000

Problem 2: Bea and Gerald are partners who has a capital of ?90,000 each and share profits and losses equally. The offer is to admit Julia for one-third interest in the firm upon her investment of an amount equal to the agreed capital as a new partner. What is the partnership's agreed capital?

A. ?180,000
B. ? 90,000
C. ?135,000
D. ?270.000

 

Reference no: EM132785739

Questions Cloud

Different modes of action of antimicrobial drugs : A. Name and describe the different modes of action of antimicrobial drugs. Provide one example for each mode of action.
Explain why nitrate determination is important : Explain why nitrate determination is important when assessing an effluent discharging into an aquatic ecosystem.
Make statement of changes in partners capital for the year : Make statement of changes in partners' capital for the year ended December 31, 2016. (Round answers to 0 decimal places, e.g. 5,125.)
What is the net realizable value of the receivables : If Alpha Gym estimates 2% of revenue as bad debts, what is the net realizable value of the receivables which should be presented in the statement of financial
What is the partnership agreed capital : One-third interest in the firm upon her investment of an amount equal to the agreed capital as a new partner. What is the partnership's agreed capital?
Difference between the molecular infection biology : What is the difference between the molecular infection biology (MIB) and evolution biology (Evt) approaches to understanding infectious disease?
What the cash distribution to partners would be : What the cash distribution to partners would be? The total liabilities of the partnership amount to ?200,000, and all assets available are non-cash assets
Major possible and real sources of contamination : 1) Name 4 major possible and real sources of contamination in your current environment.
Explain the two main contributions of the algae : Explain the difference between an intermediate host and a definitive host

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