User Account

All Pages

What is kerrys share of income

Assignment Help Financial Accounting
Reference no: EM132317520

Question

Kerry is a partner in the Kerry, Davis, Smith & Jones Partnership. Kerry owned 25% from January 1, 2018, to June 30, 2018, when he bought Jones's 25% interest. He owned 50% for the rest of the year.

The partnership had ordinary income of $146,000 and $18,000 in long-term capital gains. Barring any special allocations in a partnership agreement, what is Kerry's share of income?

(Do not round any division. Round other computations to the nearest whole dollar value.)

Reference no: EM132317520

Questions Cloud

Identify troubleshooting tools needed to verify : Identify troubleshooting tools needed to verify and manage your security settings. Identify at least three tools. Overall, the presentation will have 10 to 12.
Create a list of characteristics in contemporary business : Topic - Managing strategy. Create a list of characteristics of the general environment in contemporary business, drawing on your general knowledge
Define the terms expenditures and expenses : Distinguish between and define the terms "expenditures" and "expenses", within the GASB accounting standards as well as other appropriate references.
What commands are used to apply the trunk configurations : What commands are used to apply the VLANs and Trunk configurations? Provide an example from one of the labs. Combine these slides with the slides from Weeks.
What is kerrys share of income : The partnership had ordinary income of $146,000 and $18,000 in long-term capital gains. Barring any special allocations in a partnership agreement.
What should be the balance in accounts receivable : What should be the balance in accounts receivable at December 31, 2017, before subtracting the allowance for doubtful accounts?
Explain what expenses and costs facing today air industry : TLMT311 - In 2-3 pages (not counting cover and references), explain what expenses and costs facing today's air industry. In addition, evaluate what the current.
How planning might be adapted for vuca world : Topic - Organisational Planning. How and why organisational planning is done. How planning might be adapted for VUCA world
Compose a short paragraph about why the article is credible : Locate one professional journal article on Google Scholars, Pubmed.gov, or EBSCO Host where the audience could be the consumer or for professionals.

Reviews

Write a Review

Financial Accounting Questions & Answers

  Financial statement analysis and preparation

Financial Statement Analysis and Preparation

  Shareholder of a company

Describe the ways that a person can become a shareholder of a company. Why Wal-Mart would split its stock?

  Financial and accounting principles

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

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.

  Financial accounting assignment

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

Prepare general journal entries for Goela Ltd

  Principles of financial accounting

Prepare the journal entry to record the acquisition of the assets.

  Prepare general journal entries to record the transactions

Prepare general journal entries to record the transactions, assuming use of the periodic inventory system

  Global reporting initiative

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 frameworks

Explain the IASB Conceptual Framework's perspective of users and their decisions.

  Determine the company''s financial statements

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

Computation of Free Cash Flow

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