User Account

All Pages

Calculate the capital balances upon formation

Assignment Help Accounting Basics
Reference no: EM132626807

Question - Malou, Ivy and Beth are forming a new partnership engaged in providing school service to elementary and high-school students. Malou is to invest cash of P100,000 and an L-300 van originally costing P120,000 but has a second-hand value in the market at P50,000. Ivy is to invest cash of P160,000, while Beth, whose family engaged in the buy and sell of used car is to contribute cash of P50,000 and a van to be used by the partnership with a regular cash price of P120,000 but which cost their family's business P100,000. Partners agree to share profits equally. Calculate the capital balances upon formation?

Reference no: EM132626807

Questions Cloud

Threat modeling : A new medium-sized health care facility just opened and you are hired as the CIO. The CEO is somewhat technical and has tasked you with creating threat model.
Information governance and legal functions : Information Governance and Legal Functions: According to the authors, Smallwood, Kahn, and Murphy, IG is perhaps one of the functional areas
Procedures for implementing access control change : Create a guide that security personnel will use that includes procedures for implementing an access control change.
Change organization culture relating to security : Give an example of what may lead management to implement policies to change an organization culture relating to security?
Calculate the capital balances upon formation : Malou is to invest cash of P100,000, Partners agree to share profits equally. Calculate the capital balances upon formation
Discovered several methods to attack-defeat cryptosystems : Malicious individuals have discovered several methods to attack and defeat cryptosystems. Share an applicable personal experience
Find the Graces capital account at March : The van was a subject to a chattel mortgage of P25,000 that was assumed by the partnership. Find the Graces' capital account at March 1, 2020
Population associates blockchain with cryptocurrency bitcoin : The vast majority of the population associates Blockchain with cryptocurrency Bitcoin; however, there are many other uses of blockchain; such as Litecoin,
How much should be the capital balance of peabo right : The land was sold for P100,000 immediately after the formation of the partnership. How much should be the capital balance of Peabo right

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: +91-977-207-8620

Phone: +91-977-207-8620

Email: [email protected]

TERMS & POLICIES

HELP & SUPPORT

All rights reserved! Copyrights ©2019-2020 ExpertsMind IT Educational Pvt Ltd