Reference no: EM132790180
Question - YES Partnership had the following condensed financial position prior to liquidation:
Assets Liabilities and Capital
Cash P588,000 Liabilities P328,000
Noncash assets 2,880,000 Loan payable to NY 180,000
NY, Capital (25%) 776,000
RB, Capital (40%) 1,320,000
IS, Capital (35%) 864,000
Total P3,468,000 Total P3,468,000
Assuming noncash assets with a book value of P1,360,000 were sold for P1,660,000 and that all available cash was distributed.
Which of the following statements is false for Partner NY to receive a total of P704,000 cash after liquidation?
A. The proceeds from the sale of the remaining noncash assets amount to P212,000
B. The loss on realization on the sale of the remaining noncash assets amount to P708,000
C. Partner RB will receive the amount of P832,000 on the first distribution of cash
D. Partner IS will receive a total of P511,200 cash after liquidation
|
Identify one example of a potential funding source
: Identify one example of a potential funding source that you believe is a good fit for your vision to meet the needs of a high-quality early childhood program.
|
|
Make a single journal entry to record these costs
: Cala Manufacturing purchases land for $389,000 as part of its plans to build a new plant. Make a single journal entry to record these costs
|
|
What is the npv of the project for jupiter inc
: What is the NPV of the project? Year 5 onward, the cash flow stream is going to stabilize at $5,500,000 which is going to continue forever.
|
|
Critically evaluate and discuss the governments decision
: Critically evaluate and discuss the Government's decision for not introducing a particular regulation and motivation for using an alternative measure of profit
|
|
Which of the statements is false for Partner NY
: Which of the following statements is false for Partner NY to receive a total of P704,000 cash after liquidation
|
|
Evaluate the pro forma income statement
: What ethical issues do you believe are present in these procedures and how does the SOX Act address these concerns? You should also discuss judgmental approch.
|
|
What amount should culver report the land and the building
: Culver Co. purchased for $2,244,000 property, What amount should Culver report the land and the building at the end of the year?
|
|
What is the firm WACC
: If it decreases leverage, rs will be 6%. What is the firm's WACC if it moves to the high leverage capital structure
|
|
Create a journal entry to record the cash dividend
: Create a journal entry to record the cash dividend. Flounder Corporation has outstanding 200,000 common shares that were issued at $11 per share.
|