User Account

All Pages

What is the value of the equipment contributed by l

Assignment Help Financial Accounting
Reference no: EM132882872

E and M are partners with capital balances of P30,000 and P70,000, respectively. E has a 30% interest in profits and losses. At this time, the partnership has decided to admit R and L as new partners. R contributes cash of P55,000 for a 20% interest in capital and a 30% interest in profits and losses. L contributes cash of P10,000 and an equipment for a 25% interest in capital and 35% interest in profits and losses.

Problem 1: If bonus amounting to P18,250 is given to the old partners, what is the value of the equipment contributed by L?

Reference no: EM132882872

Questions Cloud

Impact client experience in negative way : Provide and example where using jargon and impact a client experience in a negative way?
What the dollar value of the cost of goods sold is : Cameron Company uses the periodic inventory method. If instead, the company uses the LIFO inventory method, the dollar value of the cost of goods sold is
Steve jobs played as leader in management : Assess the role Steve Jobs played as a leader in management and innovation of technology as he walked the engineers of Apple Inc.
Calculate kristopher net cash flow from investing activities : Calculate Kristopher's net cash flow from investing activities for 2020. Equipment sold at a gain of $80,000 (book value $300,000) 380,000.
What is the value of the equipment contributed by l : E has a 30% interest in profits and losses. If bonus amounting to P18,250 is given to the old partners, what is the value of the equipment contributed by L?
How to make a bank reconciliation statement for august : How to make a bank reconciliation statement for 31st August 2017 for this company? The month of August 2017 has just ended and you recived a bank statement.
Determine the project and objectives and metrics : Now that you've identified the organization's SWOT, you need to determine the project and its objectives and metrics.
Difference between candidate performance and potential : What is the difference between candidate performance and potential?
Explain whether should record the warranty as a liability : Explain, with reference to the AASB 2020 Conceptual Framework, whether should record the warranty as a liability for its new product

Reviews

Write a Review

Financial Accounting Questions & Answers

  Financial statement analysis and preparation

Financial Statement Analysis and Preparation

  Shareholder of a company

Describe the ways that a person can become a shareholder of a company. Why Wal-Mart would split its stock?

  Financial and accounting principles

An understanding of financial and accounting principles can be a valuable tool for managers. While not all managers will find themselves calculating financial ratios or preparing annual financial data.

  Prepare a statement of cash flow using the direct method

Prepare a Statement of Cash Flow using the Direct Method and Prepare the Operations section of the Statement of Cash Flow using the Indirect Method.

  Financial accounting assignment

This assignment has one case study and two question apart from case study. Questions related to document Liquidation question and Company financial statements question - Torquay Limited

  Prepare general journal entries for goela

Prepare general journal entries for Goela Ltd

  Principles of financial accounting

Prepare the journal entry to record the acquisition of the assets.

  Prepare general journal entries to record the transactions

Prepare general journal entries to record the transactions, assuming use of the periodic inventory system

  Global reporting initiative

Compare the view espoused by the economist Milton Friedman about the social responsibilities of business with the views express by Stigler.

  Explain the iasb conceptual frameworks

Explain the IASB Conceptual Framework's perspective of users and their decisions.

  Determine the company''s financial statements

T he focus of the report is to determine the extent to which you are comfortable relying on the financial statements as presented by management .

  Computation of free cash flow

Computation of Free Cash Flow

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