User Account

All Pages

What is the net income or net loss of abc partnership

Assignment Help Financial Accounting
Reference no: EM132882940

On January 1, 20x20, A, B and C formed ABC Partnership with total agreed capitalization of P1,000,000. The capital interest ratio of the ABC Partnership is 5:1:4 while the profit or loss ratio is 3:2:5, respectively for A, B and C.

During 20x20, A and B made additional investments of P200,000 and P500,000, respectively. At the end of 20x20, B and C made drawings of P300,000 and P100,000, respectively. On December 31, 20x20, the capital balance of B is reported at P200,000.

Problem 1: What is the net income or net loss of ABC Partnership for the year ended December 31, 20x20?

Problem 2: What is the capital balance of C on December 31, 20x20?

Reference no: EM132882940

Questions Cloud

How a manager motivates employees with reference : 1. Explain how a manager motivates employees with reference to Herzberg's two-factor theory.
Research and select three leadership theories : Research and select three leadership theories. Explain how you will implement those theories in your leadership style.
How much must Shanklin deposit each year : How much must Shanklin deposit each year, assuming that the fund will earn 12% interest a year compounded annually
What kind of industry has a shorter cash cycle : What kind of industry has a shorter cash cycle? what kind of industry has a longer cash cycle? Why cash cycle is important to the company?
What is the net income or net loss of abc partnership : What is the net income or net loss of ABC Partnership for the year ended December 31, 20x20? What is the capital balance of C on December 31, 20x20?
Should performance reviews and salary be transparent : Is professional development the responsibility of the employer or the employee? Should performance reviews and salary be transparent?
What is the NPV associated with leasing the equipment : What is the NPV associated with leasing the equipment versus financing it with the lease equivalent? loan? Suppose Procter and Gamble? (P&G) is considering
Discuss how the regression model can provide valid insights : Discuss how the regression model can provide valid insights to the firm - what is the goodness of fit of this model? What does it show? Explain to the manager
Implementing an open-access schedule : 1a) Discuss the process for implementing an open-access schedule within a healthcare organization.

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: +1-415-670-9521

Phone: +1-415-670-9521

Email: [email protected]

TERMS & POLICIES

HELP & SUPPORT

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