User Account

All Pages

How much cash should be paid to kent

Assignment Help Accounting Basics
Reference no: EM13512509

Jane, Kent, and Tracy have income ratios of 5 :3 :2 and capital balances of $34,000, $31,000, and $28,000, respectively. Noncash assets are sold at a gain. After creditors are paid, $119,000 of cash is available for distribution to the partners. How much cash should be paid to Kent?

Reference no: EM13512509

Questions Cloud

Explain what is the value of ka for ha : An unknown monoprotic weak acid, HA, has a molar mass of 55.0. A solution contains 2.50 g of HA dissolved 800. mL of solution. The solution has a pH of 2.000. What is the value of Ka for HA
How much cash should be paid to l mitchell : Wynne is unable to pay any of the capital deficiency. If the income sharing ratios are 5 : 3 : 2, respectively, how much cash should be paid to L. Mitchell?
Issues in international accounting : The key factor of difference between the Anglo-American and continental models appears to be between capital-based financial markets and credit-based financial markets.
What is the amount of the overstatement earnings : Elliott Corp failed to record accrued salaries for 2009, $2,000; 2010, $2,100; and 2011, $3,900 what is the amount of the overstatement or understatement of Retained Earnings at December 31, 2012?
How much cash should be paid to kent : Jane, Kent, and Tracy have income ratios of 5 :3 :2 and capital balances of $34,000, $31,000, and $28,000, respectively. Noncash assets are sold at a gain. After creditors are paid, $119,000 of cash is available for distribution to the partners. ..
What is the height of the branch it lands on : A squirrel is resting in a tall tree when it slips from a branch that is 44 m above the ground. What is the height of the branch it lands on
Find out the concentration of the species present : For propanoic acid (HC3H5O2, Ka = 1.3 multiplied by 10-5), determine the concentration of the species present, the pH, and the percent dissociation of a 0.27 M solution.
Record the division of net income : If Andrea Gant withdraws $30,000 in cash for personal use in lieu of salary, which account is debited and which is credited?
What is the normal force between the two bumpers : Your friend's car has broken down, and you volunteer to push it to the nearest repair shop, If the mass of your friend's car is 1050 kg, what is the normal force between the two bumpers

Reviews

Write a Review

 

Accounting Basics Questions & Answers

  Prepare the adusting entry to record bad debt expense for

at each calender year end maize supply co uses the percent of accounts receivable method to estimate bad debts.on 31

  Analyzing revenue recognition methods

Describe different revenue recognition methods under GAAP and IFRS. Define ADR firms.

  They begin by offering clinics for basic outdoor activities

tony and suzie graduate from college in may 2012 and begin developing their new business. they begin by offering

  Cherokee companys auditor discovered some errors in 2008

cherokee companys auditor discovered some errors in 2008 when preparing adjusting entries for 2008. prepare the

  Prepare separate properly labeled schedules detailing the

the company purchased land with a building for 1250000. at the time of the purchase the fair value of the land was at

  Journal entry to record depreciation expense on building

On January 1, 2003, ABC co. purchased a building and machinery that have the following useful lives, salvage value, and costs-Prepare the journal entry necessary to record the depreciation expense on the building in 2008

  Brandon corporation had the following stockholders equity

brandon corporation had the following stockholders equity accounts on january 1 2012 common stock 5 par 510700 paid-in

  Partnership interest following distribution

The partners' relative interests in the Sec. 751 assets do not change as a result of the current distribution. The basis of her partnership interest following the distribution is:

  How much would george have to deposit

How much would George have to deposit in the bank today if he will beearning a 6% annual rate of return and wants to have $5,000 in the bank at the end of five years?

  At the end of 2013 an error was made in the physical count

at the end of 2013 an error was made in the physical count of inventory at carter corporation which resulted in ending

  Where would the capital lease be reported in the government

Assume a government leases equipment to be used in governmental activities under a noncancelable lease, meeting the requirements for classification as a capital lease. Where would the capital lease be reported in the government's financial stateme..

  What are ratios how could liquidity ratios be used by

what are ratios? how could liquidity ratios be used by investors to determine whether or not to invest in a

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: +1-415-670-9521

Phone: +1-415-670-9521

Email: [email protected]

TERMS & POLICIES

HELP & SUPPORT

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