User Account

All Pages

What is the total capital of the big partnership

Assignment Help Accounting Basics
Reference no: EM133117362

QUESTION 1 - Ranken purchases 50% of Lark's capital interest in the K and L partnership for P22,000. If the capital balances of Kim and Lark are P40.000 and P30,000, respectively, Ranken's capital balance following the purchase is?

QUESTION 2 - In AD partnership, Allen's capital is P140,000 and Daniel's capital is P40,000 and they share a net income ratio of 3:1 respectively. They decided to admit David in the partnership. What amount will David invest to give him 1/5 interest in the partnership if no bonus/asset revaluation is recorded?

QUESTION 3 - Capital balances and profit and loss sharing ratios of the partners in the BIG Entertainment

Gallery are as follows:

Betty, capital (50%) P140.000

Iggy, capital (30%) 160,000

Grabby, capital (20%) 100,000

Total P400,000

Betty needs money and agrees to assign half of her interest in the partnership to Yessir for P90,000 cash. Yessir pays directly to Betty. Yessir does not become a partner. What is the total capital of the BIG Partnership immediately after the assignment of the interest to Yessir?

Reference no: EM133117362

Questions Cloud

What amount should be attributed to the parent : Assume JMR uses the FVE method. What amount should be attributed to the parent in the SCI column at December 31, 20X5, in the AD schedule
Explain the motives of a firm to transition : Briefly explain any one (1) of the motives of a firm to transition from being a purely domestic firm to become a multinational firm
Cause of the collapse of the us financial system : What was the cause of the collapse of the US Financial System? What companies do they mention and why are they relevant to the overall situation?
Aggregate market of stocks : If the market portfolio unexpectedly goes down 20% (i.e., there is a -20% return on the aggregate market of stocks and other securities in existence), what retu
What is the total capital of the big partnership : Betty needs money and agrees to assign half of her interest in the partnership to Yessir for P90,000 cash. What is the total capital of the BIG Partnership
Calculate the beta of portfolio of stocks : Please answer the following questions related to a Portfolio of stocks consisting of the stocks of the Dow 30 (assume an equal investment in each stock - perhap
Compute monthly mortgage payment : The house you want to buy costs $167,800. You plan to make a cash down payment of 10 percent and finance the balance over 20 years at 6% APR.
What is the appropriate credit spread : Based on the formula derived in the slides on corporate securities, what is the appropriate credit spread for a corporate bond with a 5% probability of default
Financing risks associated with the acquisition of genentech : What are the business and financing risks associated with the acquisition of Genentech? Is this a good time to do the deal?

Reviews

Write a Review

Accounting Basics Questions & Answers

  Prepare income statement and statement of owner equity

The owner of Feather Light Travelling Trains invested $7,800 into the business. Prepare income statement and statement of owner equity

  Calculate the originally reported earnings per share

In the 2020 annual report, Orbon reported restated earnings per share for 2018 of $1.00. Calculate the originally reported earnings per share

  What predetermined overhead rate is used during june

As of the end of June, the job cost sheets at Racing Wheels, Inc., show the following total costs accumulated on three custom jobs.

  Wisconsin warning co plans to finance its operations by

wisconsin warning co. plans to finance its operations by issuing 5000000 of 5 year 12 bonds with interest payable

  What is the difference between actual and budgeted costs

If Stone had actual overhead costs of $321,000 for 18,000 units produced, what is the difference between actual and budgeted costs

  What are two methods used to translate financial statements

What are the two methods used to translate financial statements and how does the functional currency play a role in determining which method is used?

  Prepare the journal entry for december year seven

Prepare the journal entry for December 31, Year 7 (fiscal year-end). If the journal entry is not required, please say so (instead of leaving it blank).

  Examine ethical issues related to the audit function

Examine Ethical Issues Related to the Audit Function and Managerial Accounting

  How much will the company owe the bank in hard dollar fees

The reserve requirement of 10%, how much will the company owe the bank in hard dollar fees, after adjustment for earnings credit

  Discuss operating section of a multi-step income statement

Other Revenues/Gains are part of the operating section of a multi-step income statement

  Calculate the corporation income tax liability

Quince Corporation has taxable income of $485,000 for its calendar tax year. Calculate the corporation's income tax liability for 2018 before tax credits

  Discuss the standard variable overhead rate per direct labor

showing a variable overhead efficiency variance of $4,200 unfavorable. What was the standard variable overhead rate per direct labor hour

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