User Account

All Pages

Determine the amount of Mendenilla deficit

Assignment Help Accounting Basics
Reference no: EM133033754

Question - After all the partnership assets were converted into cash and all available cash distributed to creditors, the ledger of the Eugenio, Lim and Mendenilla partnership showed the following balances: Accounts Payable of P20,000; Eugenio, Capital of P10,000 credit; Lim, Capital of P60,000 credit; and Mendenilla, Capital of P90,000 debit. The partners share profits and losses in 30:30:40 ratio, respectively. The partners have personal net worth amounting to P0, P10,000, and P60,000, respectively. Determine the amount of Mendenilla's deficit after contributing the relevant amount.

Reference no: EM133033754

Questions Cloud

Difference between mentoring and coaching : Why is it important for health care leaders to have a strong and positive mentor? Provide specific examples.
Definition of a secular religion : 1) Give any two difference between the race in Brazil and the race in USA.
What the net income earned by the consignor on the shipment : The goods cost P450,000 and are normally sold at a 50% markup based on cost. What the net income earned by the consignor on the shipment
Define the future of e-commerce : Describe the key factors that will define the future of e-commerce. Support your answer with an example of each factor.
Determine the amount of Mendenilla deficit : The partners have personal net worth amounting to P0, P10,000, and P60,000, respectively. Determine the amount of Mendenilla's deficit
Karl marx-meaning of poor : Problem: Karl Marx starts this passage with the statement: "We shall begin from a contemporary fact. The worker becomes poorer the more wealth he produces and t
QSP5MQC Measurement and Quantification of Construction Work : QSP5MQC Measurement and Quantification of Construction Work Assignment Help and Solution, University College of Estate Management - Assessment Writing Service
Credit card and mortgage worksheet : You have a credit card with a current balance of $150. The interest rate is 13.99% and you use this card to pay your cell phone bill of $89 each month.
Case study on stemcell technologies : You are an event planner for Stemcell Technologies, a Canadian biotechnology firm headquartered in Vancouver, British Columbia

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