User Account

All Pages

When a new partner is admitted through purchase

Assignment Help Accounting Basics
Reference no: EM132772348

Problem 1: Which of the following is correct when a new partner is admitted through purchase of interest from existing partners?

a. The incoming partner's contribution is recorded in the partnership books.
b. Partnership capital is increased by the incoming partners
c. The incoming Partner's contribution is not recorded in the partnership books
d. this is not allowed under the law. The new partner can only purchase interest from the partnership and not from the partners themselves.

Reference no: EM132772348

Questions Cloud

Recruit software engineer and a data engineer : He wants to invest in a scalable system and he is thinking to recruit a software engineer and a data engineer (you).
Does your analysis support the student purchasing computer : Use the present value tables provided in Appendix A in performing your analysis. Does your analysis support the student purchasing the computer
How much is the capital balance of a after admission of c : C purchases 20% interest in the partnership from A for P 120,000. How much is the capital balance of A after the admission of C?
Improved authentication and authorization : At present, there is a banking service that is needs improved authentication and authorization.
When a new partner is admitted through purchase : Which is correct when a new partner is admitted through purchase of interest from existing partners? Partnership capital is increased by the incoming partners
Diverse skills and mindset of ethical hacker : Given the rich and diverse skills and mindset of an ethical hacker (technical, administrative, and physical measures),
How much is the share of a in the profits : Partnership earned profit of P200,000 before deduction for salaries. B beginning capital balance was P60,000 how much is the share of A in the profits?
What are two examples we can observe of derived relational : What are two examples we can observe of derived relational responding when working with a learner in ABA therapy? Be sure to include descriptions of the.
Protection of patient data : Protection of patient data has become a critical part of the scope of practice of all healthcare professionals.

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