User Account

All Pages

What will be the distribution of income to Eba

Assignment Help Financial Accounting
Reference no: EM132940921

Question - Partners Adan and Eba have capital balances in a partnership of P400,000 and P600,000, respectively. They agree to share profits and losses as follows:

 

Adan

Eba

As salaries

P100,000

P120,000

As interest on capital at the beginning of the year

10%

10%

Remaining profits or losses

50%

50%

Required -

a. If income for the year was P500,000, what will be the distribution of income to Eba?

b. If income for the year was P300,000, what will be the distribution of income to Adan?

c. If net loss for the year was P20,000, what will be the distribution to Eba?

Reference no: EM132940921

Questions Cloud

Prepare a schedule computing estimated lower of cost : Using the conventional retail method, prepare a schedule computing estimated lower of cost or market (LCM) inventory for October 31, 2021.
Provide the ROI percent : Provide the ROI percent for the following info: Cash $5A/R $10, Inventory $20, Fixed Assets $40, Total Investment $75, Profit $3.8
Which is an example of a shock that could shift : Which is an example of a shock that could shift the IS curve to the left? Government expenditure increases./ Consumer confidence improves.
Difference between watching children play or work : What is thecand observing them?
What will be the distribution of income to Eba : Partners Adan and Eba have capital balances in a partnership of P400,000 and P600,000, What will be the distribution of income to Eba
What is aggregate expenditure : Find What is aggregate expenditure? The sum of household and business purchases of domestically produced goods and services.
How will the slope of the is curve be affected : If consumption spending becomes more sensitive to changes in the real interest rate, how will the slope of the IS curve be affected?
What is the purpose of assessment in an early childhood : What is the purpose of assessment in an early childhood education & care (ECEC) setting and How does assessment contribute to the educator's role in supporting
Provide a pro-forma income statement for six years : Please provide a pro-forma income statement for six years the following: Sales = 5,750,000 with 5% annual growth. Discount rate =4%

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