User Account

All Pages

What was the net income of the GBC Partnership for year

Assignment Help Accounting Basics
Reference no: EM133125048

Question - Choji, a partner in the GBC Partnership, has a 30% participation in partnership profits and losses. Choji's capital account has a net decrease of P 60,000 during the calendar year 2019. During 2019, Choji withdrew P130,000 (charged against his capital account) and contributed property valued at P25,000 to the partnership. What was the net income of the GBC Partnership for year 2019?

Reference no: EM133125048

Questions Cloud

How much are the retained earnings at year-end : The auditor determines that an error occurs on the recording of expenses last year. How much are the retained earnings at year-end
What is the estimate of the overheads : Kleaners Kingdom is trying to ascertain the cost of cleaning 18300 square meters for the next project. What is the estimate of the overheads
Good hypothesis for tornadoes affecting the economy : What is a good hypothesis for Tornadoes affecting the economy? With Direct and Indirect losses as well as Economic Stimuli.
Discuss canadian trade agreements around the world : 1. Briefly discuss Canadian trade agreements around the world
What was the net income of the GBC Partnership for year : Choji, a partner in the GBC Partnership, has a 30% participation in partnership profits and losses. What was the net income of the GBC Partnership for year
Different members of kingdom animalia fish : Different members of kingdom Animalia Fish, horse, frog, dolphin, butterfly, pigeon, dog, bat, and snake.
How can regulations increase efficiency in tort law : How can regulations increase efficiency in Tort law?
Mitigate the problems of that common resource : 1. What do these economists mean when they sing, "Good for me, good for you, bad forus?"
Indicate the effect of each transaction and the balances : Opened a business bank account with a deposit of $25,000 from personal funds. Indicate the effect of each transaction and the balances after each transaction

Reviews

Write a Review

Accounting Basics Questions & Answers

  How much control does fed have over this longer real rate

Hubbard argues that the Fed can control the Fed funds rate, but the interest rate that is important for the economy is a longer-term real rate of interest.   How much control does the Fed have over this longer real rate?

  Coures:- fundamental accounting principles

Coures:- Fundamental Accounting Principles: - Explain the goals and uses of special journals.

  Accounting problems

Accounting problems,  Draw a detailed timeline incorporating the dividends, calculate    the exact Payback Period  b)   the discounted Payback Period. the IRR,  the NPV, the Profitability Index.

  Theory of interest - term structure of interest rates

Term Structure of Interest Rates

  Write a report on internal controls

Write a report on Internal Controls

  Prepare the bank reconciliation for company

Prepare the bank reconciliation for company.

  Cost-benefit analysis

Create a cost-benefit analysis to evaluate the project

  Theory of interest

Theory of Interest: NPV, IRR, Nominal and Real, Amortization, Sinking Fund, TWRR, DWRR

  Liquidity and profitability

Distinguish between liquidity and profitability.

  What is the expected risk premium on the portfolio

Your Corp, Inc. has a corporate tax rate of 35%. Please calculate their after tax cost of debt expressed as a percentage. Your Corp, Inc. has several outstanding bond issues all of which require semiannual interest payments.

  Simple interest and compound interest

Simple Interest, Compound interest, discount rate, force of interest, AV, PV

  Capm and venture capital

CAPM and Venture Capital

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