User Account

All Pages

What is the capital balance of the remaining three partners

Assignment Help Accounting Basics
Reference no: EM131581971

Question - The E.N.D. partnership has the following capital balances as of the end of the current year:

Pineda$320,000  

Adams 280,000  

Fergie 250,000  

Gomez 230,000       

Total capital$1,080,000

a. Assume that the partners share profits and losses 3:3:2:2, respectively. Fergie retires and is paid $305,000 based on the terms of the original partnership agreement. If the goodwill method is used, what is the capital balance of the remaining three partners?

b. Assume that the partners share profits and losses 4:3:2:1, respectively. Pineda retires and is paid $350,000 based on the terms of the original partnership agreement. If the bonus method is used, what is the capital balance of the remaining three partners?

Reference no: EM131581971

Questions Cloud

Define state health inspection services : In which line (or lines) of Table (the product approach) would the value of each of the following be counted? "Not counted in any category" is also an option.
What are the primary audiences for written communication : What are the primary audiences for written communication? What kind of tone would be most appropriate for this workplace?
Prepare a plan for utilizing active directory : Prepare a plan for utilizing Active Directory and Group Policy Objects to achieve the goals of setting secure permissions on business unit resources.
Resort when preparing chart : Do check year 2017's calendar and note the major festive season(s), public holidays and other events that are deemed relevant to the resort when preparing your.
What is the capital balance of the remaining three partners : Assume that the partners share profits and losses 3:3:2:2, respectively. If the goodwill method is used, what is the capital balance of remaining three partners
Define emerging technology in law enforcement : Provide one article or detailed advertisement regarding an application of emerging technology in law enforcement.
Paula wishes te grant te her daughter : Paula wishes te grant te her daughter, Sandy, the ability te live in a heme Paula purchased years age as an investment.
Define the history of the national accounts : If you look at the government-supplied statistical tables regarding the national accounts, you might find that they often go into considerable detail about.
Discuss the impact of such americanization in your country : Is it true in your country? Why?) Then, discuss the impact of such Americanization in your country. If you haven't visited your country recently.

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