Reference no: EM132770085
Problem 1: When the investment of a new partner exceeds the new partners' initial capital balance and there are no partnership assets to be revalued, who will receive the bonus?
A. The new partner
B. The old partners in their old profit and loss ratio
C. The old partners in their new profit and loss ratio
D. The old and new partners in their new profit and loss ratio
Problem 2: In the LM Partnership, Laura and Maria had a capital ratio of 3:1 and a profit and loss ratio of 2:1, respectively. They used the bonus method to record Nora's admittance as a new partner. What ratio should be used to allocate, to Laura and Maria, the excess of Nora's contribution over the amount credited to Nora's capital account?
A. Laura and Maria's new relative capital ratio
B. Laura and Maria's new relative profit and loss ratio
C. Laura and Maria's old capital ratio
D. Laura and Maria's old profit and loss ratio
|
Describe the organization environment
: Describe the organization's environment, and evaluate its preparedness for virtualization.
|
|
How should the difference be treated
: When a partner retires and receives settlement in cash less than his capital balance, how should the difference be treated? The difference should be credited.
|
|
Who gets the bonus under the bonus method
: The fair values of the assets he contributed exceed his initial capital balance. In this case who gets the bonus under the bonus method?
|
|
Discuss benefits of virtualization software
: Discuss the benefits of virtualization software, as described in the text. Do you agree/disagree with these benefits,
|
|
What ratio should be used to allocate
: What ratio should be used to allocate, to Laura and Maria, the excess of Nora's contribution over the amount credited to Nora's capital account?
|
|
How much is the gain on the reversal impairment loss
: At the beginning of Year 1, a government entity acquires an intangible asset for 100,000. How much is the gain on the reversal impairment loss
|
|
Which conditions constitute legal dissolution of partnership
: Which conditions constitute a legal dissolution of a partnership? When admitting a new partner into an existing partnership, any allocation of bonus to the old
|
|
Ethical considerations-explain ethics
: Explain ethics, and describe why it is important. Illustrate the difference between morals, ethics, and law.
|
|
Opinions of community members and contact details
: Opinions of community members and contact details. This will assist in ongoing community engagement - Database for community engagement
|