Already have an account? Get multiple benefits of using own account!
Login in your account..!
Remember me
Don't have an account? Create your account in less than a minutes,
Forgot password? how can I recover my password now!
Enter right registered email to receive password!
Illustration of Admission of a new partner
XYZ have been trading as equal partners having capital contributions of £300,000, £250,000 and £200,000 respectively. They agreed to admit W who agrees to pay capital of £350 which is inclusive of his share of goodwill. The new profit sharing ration will not be X:Y:Z:W : 4:3:2:1. Goodwill has been agreed at £200,000.Required:Prepare the partners capital accounts to record admission of W and assuming that Goodwill is not to be retained in the accounts.
Capital account
X
Y
W
Z
Goodwill
80
160
40
20
Bal. b/d
300
250
200
-
Bal c/d
286.667
256.667
226.666
330
66.667
66.666
bank
350
366.667
316.667
266.666
226.667
Cost of goods sold minus sales
Thatcher Corporation's bonds will mature in 12 years. The bonds have a face value of $1,000 and an 11.5% coupon rate, paid semi-yearly. The price of the bonds is $1,050. The bonds
Review - Accounting service which provides some assurance as to reliability of financial information. In a review, a CERTIFIED PUBLIC ACCOUNTANT (CPA) doesn't conduct an examinatio
what are five modern techniques of accounting
Presented below are four independent situations which you as a Manager Trainee employed with Your Company have been asked to evaluate. Evaluate each situation based on what each re
The family next door just received a $300,000,000 cash payout after winning the lottery. You talked with them and are trying to convince them to let you manage a portfolio of inves
Focus Company issued a $30,000, 20 year bond with a stated interest rate of 7%. Assume interest payments are made annually. What is the selling price of the bond if the market ra
Real Estate Investment Trust (REIT) - Investor-owned TRUST that invests in real estate and, in place of paying income tax on its income, reports to each of its owners her or his pr
Appointment of Liquidator The liquidator is appointed by the court after the above meetings have been held: if the meetings do not agree, the court must settle the issue: if no a
IFRS guidelines IFRSs Gives the guideline on the content and the accounting statements of certain events and transactions in the financial statements. The following IFRSs are r
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!
whatsapp: +91-977-207-8620
Phone: +91-977-207-8620
Email: [email protected]
All rights reserved! Copyrights ©2019-2020 ExpertsMind IT Educational Pvt Ltd