What was the net income of the financial brokers partnership

Assignment Help Accounting Basics

Reference no: EM13135701

Shue, a partner in the Financial Broker Partnership, has a 30% share in partnership profits and losses. Shue's capital account had a net decrease of $100,000 during 2003. During 2003, Shue withdrew $240,000 as withdrawals and contributed equipment valued at $50,000 to the partnership. What was the net income of the Financial Brokers Partnership for 2003?

Reference no: EM13135701

Questions Cloud

Calculate the dividends per share : Calculate the dividends per share on each class of stock for each of the four years. Round all answers to nearest whole cent. If no dividends are paid in a given year, enter 0.

Find sales representatives in pharmaceutical industry sample : If you must estimate the population mean within 2 days, how many sales representatives in the pharmaceutical industry should you sample? Use the 90% confidence interval.

How much cash did haden receive from its customers : Haden Inc. had cash sales of $300,000 and credit sales of $1,050,000. The accounts receivable balance increased $15,000 during the year. How much cash did Haden receive from its customers during the year?

Calculate the frequency in s-1 of the photon : A mole of photons in the blue visible region of the electromagnetic spectrum has an energy of 2.54 × 10 2 kJ/mol, calculate the frequency in s-1 of the photon.

What was the net income of the financial brokers partnership : Shue, a partner in the Financial Broker Partnership, has a 30% share in partnership profits and losses. Shue's capital account had a net decrease of $100,000 during 2003. During 2003, Shue withdrew $240,000 as withdrawals and contributed equipment..

Capitalize and depreciate them over the estimated life : The proper accounting for these restoration costs is: Expense them as incurred. Capitalize and depreciate them over the estimated life of the mine. Add them into the depletion base of the mine.

Action can manifest into unethical behaviors : How in some situations individuals are ruled by impulse over reason and explain how this action can manifest into unethical behaviors.

Culturally acceptable business practices in china : When East meets West the potential for misunderstandings, miscommunication and conflict is very real and almost unavoidable. Chinese culture, as is true in most eastern societies, values relationships, tradition and formality.

Problem regarding consolidated return : The Alpha-Beta affiliated group has a consolidated regular tax amount of $52,000 and a tentative minimum tax amount of $50,000 in the current year. The maximum general business credit that can be used on the consolidated return is:

User Account

All Pages