Show the calculations to add dave vader to the partnership

Assignment Help Accounting Basics

Reference no: EM133369808

Question: Theresa Trueheart and Ethel Hardachre wish to add a new partner to their partnership. Dave Vader wants to join, and the current partners decide to give a 22.5% interest in the company, for a cash investment of $36,600. Any bonus/deficit on admitting Dave will be split by Theresa and Ethel in direct ratio to their capital accounts. Additional information: Partner equity, Theresa Trueheart: $48,800 Ethel Hardachre: $35,400.

Required: Show the calculations to add Dave Vader to the partnership and the journal entry to record the transaction.

Reference no: EM133369808

Questions Cloud

Psychology perspective does soccer team : In a psychology perspective Does a soccer team have a specific goal or purpose? what is the purpose?

Procedures followed to carry out demolition procedures : Procedures followed to carry out demolition procedures in accordance with safe and effective processes of deconstructing or demolishing a minor building

Implement the normal extraction we have been using : Implement the normal extraction we have been using so far; the second one should extract only non-stop words with z

Sociological and anthropological perspectives : How can you describe a soccer team in the form of storytelling that include psychological, sociological, and anthropological perspectives ?

Show the calculations to add dave vader to the partnership : Show the calculations to add Dave Vader to the partnership and the journal entry to record the transaction. Theresa Trueheart and Ethel Hardachre wish to add

Implementing content-based recommendation engine : What kind of information would businesses need to collect about their products before implementing a content-based recommendation engine?

Discuss the ucc vis-a-vis common law of contracts : Discuss the key differences/similarities in the approach taken by the UCC vis-a-vis the common law of contracts toward the contracts formation process.

Calculate your weighted grade : CSCI 1041 Hawaii Pacific University calculate your weighted grade. For this discussion post, please compose a post that describes how you'd do that

Define audit quality based on the pcaob definition : define "audit quality" based on the PCAOB definition, and discuss how audit quality can be improved by applying data analytics in auditing. You should explain

User Account

All Pages