User Account

All Pages

Liquidating partnerships-capital deficiency

Assignment Help Accounting Basics
Reference no: EM13534177

Liquidating partnerships-capital deficiency

Arnold, Peters, and Suzuki are partners sharing income 3:2:1. After the firm's loss from liquidation is distributed, the capital account balances were: Arnold, $18,000 Dr.; Peters, $75,000 Cr.; and Suzuki, $55,000 Cr. If Arnold is personally bankrupt and unable to pay any of the $18,000, what will be the amount of cash received by Peters and Suzuki upon liquidation?

Reference no: EM13534177

Questions Cloud

Find the maximum potential difference between the disks : Two 5.3cm x 5.3cm metal plates are separated by a 0.20--thick piece of Teflon. What is the maximum potential difference between the disks
Distribution of cash upon liquidation : How should the money be distributed and assuming that the partnership has only $600 instead of $1,800, do any of the three partners have a capital deficiency? If so, how much?
Find what average force does the punter exert on the ball : A football punter accelerates a football from rest to a speed of 13 m/s during the time in which his toe is in contact with the ball (about 0.20 s). what average force does the punter exert on the ball
Explain concentrations from highest to lowest : If one mole of the following compounds were each placed into separate beakers containing the same amount of water, rank the Cl?(aq) concentrations from highest to lowest
Liquidating partnerships-capital deficiency : If Arnold is personally bankrupt and unable to pay any of the $18,000, what will be the amount of cash received by Peters and Suzuki upon liquidation?
Define high quality materials such as duranium a highly heat : An imperial cruiser fires its lasers at the rebel frigate 12X10^30 photons of 505nm wavelength slam into the frigate. The frigate was mostly constructed from high quality materials such as duranium a highly heat
Determine the force exerted by the trailer on the car : A 1,030-kg car is pulling a 285-kg trailer. Together, the car and trailer have an acceleration of 2.00 m/s2 in the positive x-direction. determine the force exerted by the trailer on the car
Journalize the partnerships entry for kimbles investment : An analysis of the accounts receivable indicated that the allowance for doubtful accounts - Journalize the partnership's entry for Kimble's investment.
Explain any acids or bases present and types of acids : For the following reactions identify any acids or bases present and types of acids or bases present. A, Arrhenius, BL, Bronsted Lowry, L, Lewis abbreviations for types.

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