User Account

All Pages

Prepare the necessary journal entries on the books

Assignment Help Accounting Basics
Reference no: EM131723563

Question - On June 30, a partnership has total partnership capital as follows:

Partner #1, capital                       100,000

Partner #2, capital                       200,000

Total partnership capital               300,000

The partners allocate income and losses 40% to partner #1 and 60% to partner #2. On June 30, the partners agree to admit a new partner (partner #3) who pays $50,000 to the partnership for a 12% interest in the partnership. Please help prepare the necessary journal entries on the books of the partnership on June 30.  Journal entries on the books of the partnership on June 30.

Reference no: EM131723563

Questions Cloud

How many signs to sell to break even : Company estimates selling 7,000 signs. Selling $75 each and require variable costs of $25. How many signs to sell to break even
Calculating the appropriate? z-score : If someone receives a bag with 40 blue jelly? beans, would he be doubtful of the? company's claim? Answer by calculating the appropriate? z-score.
Should the local culture affect ethical practices : What is meant by international business ethics? Should the local culture affect ethical practices?
Examine the resume themes : Examine the resume themes, letter themes, fax themes, report themes, and any additional themes that you find interesting
Prepare the necessary journal entries on the books : Please help prepare the necessary journal entries on the books of the partnership on June 30. Journal entries on the books of the partnership on June 30
Unusual to obtain a sample proportion : Assume that? 20% of students at a university wear contact lenses. We randomly pick 200 students. Would it be unusual to obtain a sample proportion of? 22%
Difference between the average purchases of all customers : A 95% confidence interval estimate for the difference between the average purchases of all customers using the two different credit cards is?
Determine how easy it would be to perform dumpster : determine how easy it would be to perform dumpster diving in order to gain access to information at the site. Are trash receptacles easy to gain access to
Announced new plans to develop oil and gas projects : Royal Dutch Shell has been doing business in Nigeria since the 1920s, and has announced new plans to develop oil and gas projects there.

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