Already have an account? Get multiple benefits of using own account!
Login in your account..!
Remember me
Don't have an account? Create your account in less than a minutes,
Forgot password? how can I recover my password now!
Enter right registered email to receive password!
Question - ACCOUNTING: PARTNERSHIPDIRECTION: On January 1, 2019 Megan and Maria formed a partnership with Megan contributing $900,000 cash and Maria contributing land valued at $300,000 and a building valued $500,000. The partnership will assume Maria's $200,000 long term note payable associated with the land and building. The partners agree to share income on a 3:2 basis, respectively. Before the year ended, Megan and Maria withdrew cash of $30,000 and $25,000 respectively. At the end of the year, total revenues amounted to $375,000 and total operating expenses amounted to $125,000.
Required -
1. Prepare journal entries to record the partners'
a. Initial Capital Investments;
b. Cash Withdrawals; and
c. Determine Net Income and Record Share in the Profit
2. Show the Statement of Partners' Equity for the year just ended.
Financial Statement Analysis and Preparation
Describe the ways that a person can become a shareholder of a company. Why Wal-Mart would split its stock?
An understanding of financial and accounting principles can be a valuable tool for managers. While not all managers will find themselves calculating financial ratios or preparing annual financial data.
Prepare a Statement of Cash Flow using the Direct Method and Prepare the Operations section of the Statement of Cash Flow using the Indirect Method.
This assignment has one case study and two question apart from case study. Questions related to document Liquidation question and Company financial statements question - Torquay Limited
Prepare general journal entries for Goela Ltd
Prepare the journal entry to record the acquisition of the assets.
Prepare general journal entries to record the transactions, assuming use of the periodic inventory system
Compare the view espoused by the economist Milton Friedman about the social responsibilities of business with the views express by Stigler.
Explain the IASB Conceptual Framework's perspective of users and their decisions.
T he focus of the report is to determine the extent to which you are comfortable relying on the financial statements as presented by management .
Computation of Free Cash Flow
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!
whatsapp: +1-415-670-9521
Phone: +1-415-670-9521
Email: [email protected]
All rights reserved! Copyrights ©2019-2020 ExpertsMind IT Educational Pvt Ltd