Reference no: EM133115041
Questions -
Q1. Abada and Acosta form a partnership. Abada contributed cash of P3,000,000 and an equipment costing P6,000,000. Acosta contributed land costing P6,000,000.
The current market value of the assets are as follows: equipment - P4,500,000; land P7,500,000. The partnership will assume a P1,500,000 liability on the land contributed by Acosta. The capital accounts of the partners will be credited as follows:
A. P9,000,000 to Abada; P4,500,000 to Acosta
B. P3,000,000 to Abada; P7,500,000 to Acosta
C. P7,500,000 to Abada; P6,000,000 to Acosta
D. P3,000,000 to Abada; P6,000,000 to Acosta
Q2. On May 1, 2021, Cobb and Mott formed a partnership and agreed to share profits and losses in the ratio for 3:7, respectively. Cobb contributed a parcel of land that cost him P10,000. Mott contributed P40,000 cash. The land was sold for P18,000 on May 1, 2021, immediately after formation of the partnership. What amount should be recorded in Cobb's capital account on formation of the partnership?
A. P18,000
B. P17,400
C. P15,000
D. P10,000
|
What are borrower alternative options
: On the day the return of the capital notes is due, the borrower decides that it does not want to buy back the capital notes. What are borrower alternative optio
|
|
Ownership structures of project finance vehicles
: Ques. Given below is a list of ownership structures of project finance vehicles. Given that you now understand the advantages and disadvantages of using project
|
|
What amount of depreciation should be recognized
: BITCO purchased a vehicle for $30,000 on July 1, 2020. BITCO's fiscal year ends on December 31, 2020. What amount of depreciation should be recognized
|
|
Marshall missing with respect to leadership abilities
: What is Marshall missing with respect to his leadership abilities? How do you explain his poor leadership behavior?
|
|
What amount should be recorded in cobb capital account
: Cobb contributed a parcel of land that cost him P10,000. What amount should be recorded in Cobb capital account
|
|
Reflecting on management skills
: Of what department is he or she a member and at what level of management is this person?
|
|
Describe external environment-primary tasks
: Describe the external environment, primary tasks, size and technology of an organization that you (or someone you know) have been a member
|
|
Determine the horizontal and vertical components
: Determine the horizontal and vertical components of reaction at the support and Determine the forces in members 17, 19, 20, 16 and 21. State if the members
|
|
Political tactics for gaining power
: Which political tactics for gaining power have you seen operate in an organization or group you are/were associated with?
|