What is the share of Rodriquez on the partnership profit

Assignment Help Accounting Basics
Reference no: EM132791485

Question - On March 1, 2016, Felipe Opiso formed a partnership with Ferdinand Rodriguez and made the following contributions:

Cash P350,000

Non- Cash 100,000

At year end, Opiso received a share of P32,000 on the P80,000 profit. What is the share of Rodriquez on the partnership profit?

Reference no: EM132791485

Questions Cloud

Write a short memo explaining the tax policy to a client : Write a short memo explaining the tax policy to a client. Laurie, a clerk who works in the City of Orillia Municipal office, purchased a waterfront
Children respond well to rhymes and narratives : "Children respond well to rhymes, narratives, and verse, which makes for enjoyable reading and movement experiences.
Discuss about a notable man of omega : You are to write a 500 word essay about a notable man of Omega. Explain why you have chosen to write about him, and how his accomplishments have impacted.
How much would the component cost of debt used : Keys Printing plans to issue a $1,000 par value, By how much would the component cost of debt used to calculate the WACC change if the new tax rate was adopted?
What is the share of Rodriquez on the partnership profit : At year end, Opiso received a share of P32,000 on the P80,000 profit. What is the share of Rodriquez on the partnership profit
How does having belief system provide psychological comfort : The major world religions have answered, or at least attempted to answer, the following metaphysical questions: How does having a belief system provide.
Make a budgeted income statement for the month of november : Make a budgeted income statement for the month of November assuming a 30% income tax rate. Selling and administrative expenses 322,000
Did dock ellis lead a just or unjust life : Who is Dock Ellis? After reading about the effects of different drugs including LSD and uppers like the methamphetamines that Dock Ellis took.
What will be the impact on common stock : If the firm declares a 10% stock dividend and a $0.06 per share cash dividend, what will be the impact on Common stock on the above equity account

Reviews

Write a Review

Accounting Basics Questions & Answers

  Which of the machines is most attractive based on its

heartland paper company is considering the purchase of a new high-speed cutting machine. tow cutting machine

  What amount should trade and other receivables account be

At what amount should the Trade and other receivables account be presented in the balance sheet under current assets as of December 31, 2017?

  Kile company borrows 63359 on july 1 from the bank by

kile company borrows 63359 on july 1 from the bank by signing a 63359 8 1-year note payable. prepare the journal

  Calculate depreciation expense using straight-line method

Jackson Corporation purchased a piece of equipment for $75,000. Calculate depreciation expense using the straight-line method for the first two years

  Prepare the journal entry for the purchase on December

Prepare the journal entry for the purchase on December 31, 2015 and any necessary adjusting entries relative to depreciation (use straight-line)

  Prepare the journal entries that blossom should make

Blossom Company sold 8,000 Super Spreaders on July, Prepare the journal entries that Blossom should make in 2020 related to the sale and the related warranties.

  Evaluate what must next year revenue be

Assuming a tax rate of 30%, what must next year's revenue be in order for X Company to earn after-tax profits of $21,000?

  What should be the budgeted sales in units

The company plans to include a safety margin of $20 000 before tax. Assuming a tax rate of 30%, what should be the budgeted sales in units?

  Cash flow statement

You've just been hired onto ABC Company as the corporate controller. ABC Company is a manufacturing firm that specializes in making cedar roofing and siding shingles. The company currently has annual sales of around $1.2 million, a 25% increase fr..

  What are the contribution margin per unit

Fixed cost equals $146,000. Each door handle sells for $12. What are the contribution margin per unit and the contribution margin ratio for door handles

  Harrison hartwell and zenith is a successful law firm

harrison hartwell and zenith is a successful law firm employing 26 professionals. there is an internal controversy over

  What is the break-even point in units for legrand

Cost-Volume-Profit Equation, Basic Concepts, Solving for Unknowns Legrand Company produces hand cream in plastic jars. Each jar sells for $3.40.

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!

All rights reserved! Copyrights ©2019-2020 ExpertsMind IT Educational Pvt Ltd