User Account

All Pages

Find what are the capital balances of the remaining partners

Assignment Help Accounting Basics
Reference no: EM132625270

Problem 1: A, B, and C were partners with capital balances on January 2, 2020 of P 100,000, P 150,000, and P 200,000, respectively. Their profit and loss ratio is 5:3:2. On July 1, 2020, A retires from the partnership on the date of retirement the partnership net income is P 140,000 and the partners agreed that inventories are to be revalued at P 70,000 from its original cost of P 50,000. The partners agreed further to pay A P 195,000 in settlement of her interest. What are the capital balances of the remaining partners after the retirement of A?

Reference no: EM132625270

Questions Cloud

Reproducing structured inequality between men and women : The unequal involvement in housework and child rearing experienced by Malia and Ron is reproduced by their children through a process of role socialization
Organization and ultimately overall productivity levels : Analyze the impact on overall morale, relationships within the organization and ultimately overall productivity levels.
What is one major area that a sociologist can assist in : What is one major area that a sociologist can assist in? Example like a mental health field and why please explain why
Discuss the concept of being color brave versus color-blind : Discuss the concept of being color brave versus color-blind, did this have any impact on how you understand the term "color-blind"?
Find what are the capital balances of the remaining partners : A, B, and C were partners with capital balances on January 2, 2020, What are the capital balances of the remaining partners after the retirement of A?
Develop segmentation scheme : Develop a segmentation scheme for bulletproof backpacks and include the most important segment descriptors
Define the term of nuclear family : Define the term of nuclear family. What changes happened in this type of family since the industrial revolution to the present day.
Explain the importance of researches in the social sciences : Explain the importance of researches in the social sciences and humanities in the society and prove that researches
Find what are capital balances of a and b and c respectively : Admit C as a partner with a one-third interest in the capital and profits, what are the capital balances of A, B, and C respectively?

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