User Account

All Pages

How much is the asset revaluation

Assignment Help Accounting Basics
Reference no: EM132641318

Question - HYUN and JIN are partners sharing profits and losses 3:1. Their respective capital balances were 200,000 and 300,000. At this time, they decided to admit FELIX for an investment of 250,000. The investment of FELIX will give him a 25% interest in the partnership. How much is the asset revaluation?

A. 250,000

B. 150,000

C. 200,000

D. 362,500

Reference no: EM132641318

Questions Cloud

Describe the methods of connecting a mechanical equipment : Describe the methods of connecting a mechanical equipment to service supplies (such as electrical, fluid power, compressed air, oil and fuel supplies)
How much is the adjusted share in profit of the JV Inc : GSW owns 20% in JV Inc. and uses the equity method to account for its interest in the joint venture. How much is the adjusted share in profit of the JV Inc
Prepare one journal entry summarizing the recognition : Prepare one journal entry summarizing the recognition of uncollectible accounts expense for the entire year under each of the above independent assumptions.
How would you characterize overall position of perspective : How would you characterize the overall position of perspective of the current United States Supreme Court (USSC)? Note: One might say that the Warren Court.
How much is the asset revaluation : The investment of FELIX will give him a 25% interest in the partnership. How much is the asset revaluation
How did the hacker get into the network : You are hired by JLA Enterprise to conduct a Forensic Examination after a network intrusion occurs at their corporate office. Your job is to determine.
Extreme by design episode-a real world challenge : What problem was the team presented with in this episode? What problem might they have thought they should solve if they hadn't listened carefully?
What are inventories and the related accounts payables : After reviewing the assets sales, impairments, and restructuring activities, what conclusions can be drawn about the Estee Lauder Companies?
Identify events that led to the creation of the document : Identify events that led to the creation of the document. Explain the need that was felt by the founders used to justify why it was written as it was.

Reviews

Write a Review

Accounting Basics Questions & Answers

  How may the maturity date of a promissory note be stated

Your roommate is uncertain about the advantages of a promissory note. Compare the advantages of a note receivable with those of an account receivable.

  Rebate expense and liability

What is the rebate expense and liability, respectively, shown on the 2007 financial statements dated December 31?

  The entire original cost of the asset would be depreciated

a company is considering purchasing an asset for 50000 that would have a useful life of 5 years and would have a

  Identify the internal control principle being applied

Identifying Internal Control Principles in Cash Payment Processes Home Repair Corp. (HRC) operates a building maintenance and repair business.

  Treasury stock transactions-presentation-jodz company

Jodz Company had the following stockholders' equity as of January 1, 2004. Prepare the journal entries to record the treasury stock transactions in 2004, assuming Jodz uses the cost method.

  Prepare the bank reconciliation for eee electric

Use the information below to prepare the bank reconciliation for EEE Electric for month of September. The bank statement indicated bank service charges of $63

  What is an example of a gain contingency what is the

what is an example of a gain contingency? what is the accounting treatment for gain contingencies? please discuss the

  Bridgette is known as the doll lady she started collecting

bridgette is known as the doll lady. she started collecting dolls as a child always received one or more dolls as gifts

  Calculate the company depletion expense

n 20X5, Barton Iron Ore Co purchased a mine for $200 million ($30 million was applicable to the land). Calculate the company's depletion expense for 20X5

  Why is public accounting often viewed as a guarantor

Why is public accounting often viewed as a guarantor of results, or even as a provider of assurance that one's investment is of high quality?

  Valente company is about to issue 3000000 of 5-year bonds

1.loom inc. has outstanding a 1000 face value bond with a 5 contract interest rate. the bond has 10 years remaining

  Each of the following international transaction

Indicate how each of the following international transaction is entered in to the US. BOP with double entry bookkeeping:(a) the us government gives a $100 cash balance in abus bank to a developing nation as part of the us foreign aid program.

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