Already have an account? Get multiple benefits of using own account!
Login in your account..!
Remember me
Don't have an account? Create your account in less than a minutes,
Forgot password? how can I recover my password now!
Enter right registered email to receive password!
Illustration of Admission of a new partner
XYZ have been trading as equal partners having capital contributions of £300,000, £250,000 and £200,000 respectively. They agreed to admit W who agrees to pay capital of £350 which is inclusive of his share of goodwill. The new profit sharing ration will not be X:Y:Z:W : 4:3:2:1. Goodwill has been agreed at £200,000.Required:Prepare the partners capital accounts to record admission of W and assuming that Goodwill is not to be retained in the accounts.
Capital account
X
Y
W
Z
Goodwill
80
160
40
20
Bal. b/d
300
250
200
-
Bal c/d
286.667
256.667
226.666
330
66.667
66.666
bank
350
366.667
316.667
266.666
226.667
Critical Thinking Exercise Instructions: select a company , Wendy''s or McDonald''s . Perform a Google search, key in McDonalds or Wendys Key financial ratios. I suggest you use f
State the types of business organizations There are numerous types of business organizations: Service business-doctors, lawyers, barber shop etc. Merchandising busin
Journal Entries for Dissolutions The following journal entries are relevant for the purpose of recording all dissolutions: 1) DR. Revaluation account CR. Asset account
Develop a paper that explains the emerging role of international financial reporting standards and how it affects your particular organization. Your paper should assess the adequac
Ask questSarah is the sole distributor agent in her area for Holmes Kitchen Tiles. Sarah purchases the titles at a trade discount and annually in May receives an agency commission
No. Account Title Debit Credit 101 Cash . . . . .
Accounting objectives Accounting has two main objectives: To assist control over the assets and liabilities, and the income and expenditure of the enterprise; and To
The standard EOQ model supposes that materials can be procured immediately and thus implies that the firm may place an order for replenishment as the inventory level drops to zero.
Distribution to a beneficiary Before distribution to a beneficiary, the investments will be re-valued and the profits or losses divided between the beneficiaries as follows:-
redemption of debentures by sinking fund method
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!
whatsapp: +1-415-670-9521
Phone: +1-415-670-9521
Email: [email protected]
All rights reserved! Copyrights ©2019-2020 ExpertsMind IT Educational Pvt Ltd