User Account

All Pages

How much cash does each partner receive

Assignment Help Accounting Basics
Reference no: EM131775416

Problem - A local partnership has only two assets (cash of 10000 and land with a cost of 35000). All liabilities have been paid and the following capital balances are currently being recorded. The partners share profits and losses as follows. All partners are insolvent

Brown, capital 40% 25000

Fish, Capital 30% 15000

Stone, Capital 30% 5000

a. if the land sold for 25000, how much cash does each partner receive in a final settlement?

Reference no: EM131775416

Questions Cloud

Unit product cost under absorption method : How do you compute the unit product cost under absorption method?
Compute the gross margin percentage and net profit margin : Compute the gross margin percentage and net profit margin ratio. Caldor Company's assets at the beginning of the year were $900,000
For what values will there be a profit : Profit For a certain product, the revenue is given by R 5 40x and the cost is given by C = 20x + 1600. To obtain a profit, the revenue must be greater.
Absorption and variable cost method : What are the differences between absorption and variable cost method?
How much cash does each partner receive : A local partnership has only two assets (cash of 10000 and land with a cost of 35000). How much cash does each partner receive in a final settlement
Discussion question responses : Select one (cost, profit, investment or revenue center) and give an example and how this center impacts the financial statement.
Calculate the current ratio and debt ratio : Create a classified balance sheet in good form for the year ended 2013, Calculate the current ratio and debt ratio and explain your findings
Overapplied or underapplied manufacturing overhead : What should be done with overapplied or underapplied manufacturing overhead at the end of the year if the amount is considered material?
Compute the net income for the current year : Compute the net income for the current year, assuming that there were no entries in the Retained Earnings account except for net income

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