The connection between accomplices

Assignment Help Financial Management
Reference no: EM13906630

A, B and C initiated business on first April, 2010. They consented to share the benefits and misfortunes in the proportion of 2: 2: 1. Their capitals were Rs. 30,000, Rs. 22,500 and Rs. 15,000 individually. The association deed given to enthusiasm on capital at 6% for every annum. Amid 2010-11 the firm earned a benefit of Rs. 20,050 (preceding accommodating enthusiasm on capital). Amid the year the accomplices' drawings were A – Rs.7,000; B – Rs. 6,250; and C – Rs. 4,000. 

The connection between accomplices was bad. They chose to disintegrate the firm on 31st March, 2011. The benefits were sold which acknowledged Rs. 75,000. There were loan bosses to the degree of Rs. 12,000 which were paid off at a rebate of 5%. Costs of acknowledgment added up to Rs. 1,200. 

Set up the fundamental records to close the books of the firm.

Reference no: EM13906630

Questions Cloud

Ascertain the quality 10 years subsequently of a store : Ascertain the quality 10 years subsequently of a store of Rs.20,000 made today if the interest rate is (a) 4 percent, (b) 6 percent, (c) 8 percent, and (d) 9 percent.
The firm was broken down : The firm was broken down on this date because of C's indebtedness. Resources acknowledged Rs. 32,000. Costs of disintegration came to Rs. 200. C's bequest paid half of what  was because of C.
What is the rate of development that can be supported : What is the rate of development that can be supported with inward value?
What is the rate of development that can be managed : What is the rate of development that can be managed with inner value?
The connection between accomplices : The connection between accomplices was bad. They chose to disintegrate the firm on 31st March, 2011. The benefits were sold which acknowledged Rs. 75,000. There were loan bosses to the degree of Rs. 12,000 which were paid off at a rebate of 5%.
What is the level of aggregate resources for meridian : What is the level of aggregate resources for Meridian at this point?
What is the level of aggregate resources for headstrong : What is the level of aggregate resources for Headstrong at this point?
Determine the outside trusts prerequisite for kamath : Determine the outside trusts prerequisite for Kamath Enterprises for the year 20x8.How ought to the organization raise its outside trusts prerequisite, if the accompanying confinements apply?
The considerable number of accomplices : Pass Journal passages to close the books of the firm and show Realization Account, Bank Account, and the Capital Accounts of the considerable number of accomplices.

Reviews

Write a Review

Financial Management Questions & Answers

  Decreasing the portfolio volatility

Start with asset A which has an expected return of 10% and a volatility of 30%. Suppose that we introduce asset B with an expected return of 10% and a volatility of 30%. The correlation between the two asset returns is 0.9. What is the optimal combin..

  What must the coupon rate be on these bonds

Rhiannon Corporation has bonds on the market with 16.5 years to maturity, a YTM of 6.30 percent, and a current price of $1,036. The bonds make semiannual payments. What must the coupon rate be on these bonds?

  What is the y-intercept of your company

What percent of variation in returns is explained by the market index? What is the y-intercept of your company? What does it mean? Is it significantly greater than zero? Does CAPM appear to explain the returns of your company very well?

  Calculate the retailer selling price

Within a given distribution channel, the following information is available concerning trade margins and costs. A wholesaler has a unit selling price of $27 and a unit cost of $18. The retailer requires a 32% mark up on selling price. The manufacture..

  Is this a discount or premium bond

Compute the price of a 4.9 percent coupon bond with 15 years left to maturity and a market interest rate of 7.6 percent. What is the bond price? Is this a discount or premium bond?

  Equity cost of capital for the company that released shares

A stock is expected to pay $0.80 per share every year indefinitely. If the current price of the stock is $18.90, and the equity cost of capital for the company that released the shares is 6.4%, what price would an investor be expected to pay per shar..

  Ordinary annuity cash flow

What is the future value in 27 years of an ordinary annuity cash flow of $704 every quarter of a year at the end of the period, at an annual interest rate of 8.89 percent per year, compounded quarterly?

  Maintaining asset value

One of the functional responsibilities assumed by central banks is that of "maintaining asset value." What does this term mean? Should it be a responsibility of central banks?

  What is the sustainable rate of growth

Little Miss Matched has a 6.4% after-tax profit margin and a 20% dividend payout ratio. The debt-equity ratio is 0.65 and the total asset turnover is 1.8. What is the sustainable rate of growth?

  International workforce and its impact on strategy

The workforce management is far more complicated in companies with operations in multiple countries than their domestic counterparts. There are political, economic, social-cultural, technological, and legal issues that add substantial challenges t..

  What is after-tax cost of capital for this debt financing

Great Seneca Inc. sells $100 million worth of 21-year to maturity 8.91% annual coupon bonds. The net proceeds (proceeds after flotation costs) are $988 for each $1,000 bond. The firm's marginal tax rate is 40%. What is the after-tax cost of capital f..

  Simply return the capital invested in the project

If a project has a NPV of zero, will that project provide a return on the investment or will it simply return the capital invested in the project? Explain your answer.

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!

All rights reserved! Copyrights ©2019-2020 ExpertsMind IT Educational Pvt Ltd