Reference no: EM132969147
Question - X, Y, And Z, a partnership formed on January 1, 2019 had the following initial iinvestments: Kindly add the solution for partnership net profit at December 31, 2019 X - P 100,000 Y - P 150,000 Z - P 225,000.
The partnership agreement stated that profits and losses are to be shared equally by the partners after consideration is made for the following:
Salaries allowed to partners: P60,000 for X, 48,000 for Y and P 36,000 for Z.
Average partner's capital balances during the year shall be allowed 10%
Additional information:
On June 30 2019, X invested an additional P60,000
Z withdrew P70,000 from the partnership on Sept 30, 2019
Share on the remaining profit was P5,000 for each partners
Required - What is the partnership net profit at December 31, 2019 before salaries, interest and partners' share on the remainder?
|
Walmart acquisition of lululemon
: List and describe in detail at least five sources of value potentially realized from Walmart's acquisition of Lululemon based on the assigned role.
|
|
Value-creating reasons for diversification
: Name and explain 4 value-creating reasons for diversification, and provide an example of each.
|
|
Nature of requirements and necessity of acquisition
: List 6 key aspects which must be considered for the long-term assessment of physical assets in terms of nature of requirements and necessity of acquisition.
|
|
What are the cost advantages of mcdonalds
: What are the cost advantages of McDonalds?
|
|
What is the partnership net profit at December
: What is the partnership net profit at December 31, 2019 before salaries, interest and partners' share on the remainder
|
|
Determine the Amount of Net Sales
: The Periodic Inventory Method is used. (Note: Ending Merchandise Inventory is $20,000) Determine the Amount of Net Sales
|
|
Prepare the flexible budget for output levels
: Gaje, Inc manufactures travel locks. Prepare the flexible budget for output levels of 8,000 locks and 10,000 locks for the month ended April 30?, 2024
|
|
What is the net income or loss of Oceanic Company
: If the asset will revert back to the lessor and the fair value at the end of the lease term is P50,000, what is the net income(loss) of Oceanic Company
|
|
Compute the break-even point in units and sales dollars
: Fixed costs are $250,000; selling price is $40; and variable cost is $30 per unit. Compute the break-even point in units and sales dollars
|