User Account

All Pages

What will be total amount credited to joe capital account

Assignment Help Financial Accounting
Reference no: EM132579337

Question 1: Joe and James agreed to share profits and losses in their partnership on a 7:3 basis, respectively, after a salary allowance of $25,000 is allocated to Joe. Earnings for the period total S115,000. What will be the total amount credited to Joe Capital account when the Income Summary account is closed?

Option A) $52,000

Option B) $90,000

Option C) $63,000

Option D) $88,000

Reference no: EM132579337

Questions Cloud

Containing a single type of macromolecule : You are working in a lab and have been given a tiny specimen to evaluate. You have been told only that it is a biological specimen
Provide revenue to healthcare providers : Identify 6 major third-party payers who provide revenue to healthcare providers.
Generate more means of recycling carbon : Considering the extra carbon created by humans, how might it be possible (or is it?) to generate more means of recycling carbon?
What are the dangers-benefits to areas : How would these effects manifest themselves? What are the dangers/benefits to these areas?
What will be total amount credited to joe capital account : Earnings for the period total S115,000. What will be the total amount credited to Joe Capital account when the Income Summary account is closed?
Sketch out a cross section of a cell membrane : Sketch out a cross section of a cell membrane showing a proposed transporter involved in either facilitated diffusion or active transport
How would the carbon levels in the soil change : In fifty years, if deforestation were decreased 50%, how would the carbon levels in the soil change?
Leveraging its strategic information resources : What is another company that is achieving dominance in its market by properly leveraging its strategic information resources?
Justify which projects should be selected and give reason : Does current WACC rate of 17% is irrelevant or relevant? Justify your answer. Justify which projects should be selected and give reason.

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