User Account

All Pages

Prepare a cash distribution schedule

Assignment Help Accounting Basics
Reference no: EM131780132

Question - The Fistman Company reports net income of $42,000. Interest allowances are Stewart $4,500 and Bliss $7,500; partner salary allowances are Stewart $27,000 and Bliss $15,000 and the remainder is shared equally.

Instructions: Indicate the division of net income to each partner, and prepare the entry to distribute the net income.

Question - Door Company at december 31 has cash $48,000, noncash assets $240,000, liabilities $132,000, and the following capital balances: Dolson $108,000 and Meier $48,000. The firm is liquidated, and $288,000 in cash is received for the noncash assets. Dolson and Meier income ratios are 60% and 40%, respectively.

Instructions: Prepare a cash distribution schedule.

Reference no: EM131780132

Questions Cloud

Compute the annual rate of return for each project : Compute the annual rate of return for each project, Compute the cash payback period for each project
Number of valence electrons in the dot structure : What is the name of the 3-dimensional shape this molecule forms? (you may figure this out on scrap paper and just write the correct answer)
Record the entry for the premium payment : What type of intangible assets is subject to amortization? What are three different methods of amortization? Record the entry for the premium payment.
How much of the indirect costs should be allocated : This amount has been included in the $250,000 of indirect costs. How much of the $250,000 indirect costs should be allocated to the Consumer Department
Prepare a cash distribution schedule : Door Company at december 31 has cash $48,000, noncash assets $240,000, Prepare a cash distribution schedule
Determine the equation of motion using virtual work : The hinge is restrained from rotation by a torsion al spring K and supports a mass M held up by another spring k to a position where the bars are horizontal.
Compute the acquisition cost of the equipment : Instruction: Compute the acquisition cost of the equipment and prepare the journal entry to record the purchase
Expect for epigallocatechin gallate in green tea : What chemical changes you expect for epigallocatechin gallate in green tea when the tea exposes to air overnight?
Prepare the journal entries to record the exchange : Prepare the journal entries to record the exchange of Marco Company office equipment which has a calendar year end

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