User Account

All Pages

Journalize the entries to record the admission of daria

Assignment Help Accounting Basics
Reference no: EM132903314

Admission by purchase of Interest and Investment of Assets

The capital accounts of Loida and Cris have balances of P150,000 and P110,000, respectively. Daria and Helen are to be admitted to the partnership. Daria buys one-fifth of Loida's interest for P35,000 and one forth of Cris' interest for P25,000. Helen contributes P70,000 cash to the partnership, for which she is to receive an ownership equity of P70,000.

Required:

Problem 1. Journalize the entries to record the admission of Daria and Helen.

Problem 2. What are the capital balances of each partner after the admission of the new partners?

Reference no: EM132903314

Questions Cloud

What amount of dividend revenue be reported for current year : 5,000 shares of C Company in lieu of cash dividend of P20 per share. What amount of dividend revenue should be reported for the current year?
How should the entity account for the cost : An entity acquired a machine on Jan. When should the entity start depreciating the machine and how should the entity account for the P8,000 costs, respectively?
Determine the capital balances of man mon and gal : Determine the capital balances of Man, Mon and Gal after Gal's admission. On October 1, Gal was admitted to a 35% interest in the partnership.
Describe poverty and inequality : Outline 32 situation where the state has failed in the market and economy. Provide clear refrences and examples
Journalize the entries to record the admission of daria : What are the capital balances of each partner after the admission of the new partners? Journalize the entries to record the admission of Daria and Helen.
Conceptual data modeling and logical database design : 1. Conceptual data modeling: produce an ERD for your case. (Book P180-185, P193-197)
Labor force trends might influence xron staffing planning : What labor force trends might influence Xron's staffing planning, in your opinion?
Explain the triple bottom line benefits : 1.Before you can begin to solve a problem, you need to identify the cause. There are four basic things that we do has a human society that are unsustainable.
Capitalism is economic and political system : Capitalism is an economic and political system in which a country's trade and industry are controlled by private owners for profit,

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