pedro has $46000 capital and farrin has $18000 capital in the pedro & farrin partnership
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pedro has $46000 capital and farrin has $18000 capital in the
pedro & farrin partnership
Marigold Corp. is considering the following alternatives: Alternative A $30000 18000 10000 Alternative B $46000 18000...
Marigold Corp. is considering the following alternatives: Alternative A $30000 18000 10000 Alternative B $46000 18000 16000 Revenues Variable costs Fixed costs What is the incremental profit? $10000 $2000 O $6000
Highrise partnership has a total partnership equity of $490,000, which is made up of Susan, Capital,...
Highrise partnership has a total partnership equity of $490,000,
which is made up of Susan, Capital, $210,000
Question 13 Highrise partnership has a total partnership equity of $490,000, which is made up of Susan, Capital, $210,000 and Joe, Capital, $280,000. The partners share profit/losses in a ratio 30% to Susan and 70% to Joe. On April 30, 2020, Jackie was admitted to the partnership and given a 20% interest in equity. Prepare the journal entries under the following unrelated assumptions,...
At year-end, the Circle City partnership has the following capital balances: $160,000 Manning Capital Gonzalez Capital...
At year-end, the Circle City partnership has the following capital balances: $160,000 Manning Capital Gonzalez Capital Clark, Capital Freeney Capital 140,000 110,000 100,000 Profits and losses are split on a 3:3:2:2 basis, respectively. Clark decides to leave the partnership and is paid $126,000 from the business based on the original contractual agreement. The payment made to Clark beyond his capital account was for Clark's share of previously unrecognized goodwill. After recognizing partnership goodwill, what is Manning's capital balance after Clark...
The Prince-Robbins partnership has the following capital account balances on January 1, 2018: Prince, Capital $...
The Prince-Robbins partnership has the following capital account balances on January 1, 2018: Prince, Capital $ 110,000 Robbins, Capital 100,000 Prince is allocated 70 percent of all profits and losses with the remaining 30 percent assigned to Robbins after interest of 8 percent is given to each partner based on beginning capital balances. On January 2, 2018, Jeffrey invests $61,000 cash for a 20 percent interest in the partnership. This transaction is recorded by the goodwill method. After this transaction,...
The Prince-Robbins partnership has the following capital account balances on January 1, 2018: Prince, Capital $...
The Prince-Robbins partnership has the following capital account balances on January 1, 2018: Prince, Capital $ 125,000 Robbins, Capital 115,000 Prince is allocated 70 percent of all profits and losses with the remaining 30 percent assigned to Robbins after interest of 6 percent is given to each partner based on beginning capital balances. On January 2, 2018, Jeffrey invests $70,000 cash for a 20 percent interest in the partnership. This transaction is recorded by the goodwill method. After this transaction,...
A local dental partnership has been liquidated and the final capital balances are as follows: Atkinson,...
A local dental partnership has been liquidated and the final capital balances are as follows: Atkinson, capital (40% of all profits and losses) $ 83,000 Kaporale, capital (30%) 43,000 Dennsmore, capital (20%) (57,000 ) Rasputin, capital (10%) (69,000 ) If Rasputin contributes additional cash of $24,500 to the partnership, what should happen to it? (Do not round intermediate calculations.)
Ali, Beck and Chris are equal partners in a partnership business engaged in shampoos. The capital...
Ali, Beck and Chris are equal partners in a partnership business engaged in shampoos. The capital accounts balances on 1 January 2017 were as follows: Ali $ 14000 Beck $ 13000 Chris $ 8500 No separate current accounts are kept and accounts are closed on 31st December each year. On 30 June 2017, Chris wanted to start his own business and he retired from the partnership. Ali and Beck agreed to continue to be equal partners. It was also agreed...
The Prince-Robbins partnership has the following capital account balances on January 1, 2018: Prince, Capital…………………………………………………………………………..$70,000...
The Prince-Robbins partnership has the following capital account balances on January 1, 2018: Prince, Capital…………………………………………………………………………..$70,000 Robbins, Capital………………………………………………………………………..$60,000 Prince is allocated 80 percent of all profits and losses with the remaining 20 percent assigned to Robbins after interest of 10 percent is given to each partner based on beginning capital balances. On January 2, 2018, Jeffrey invests $37,000 cash for a 20 percent in the partnership. This transaction is recorded by the goodwill method. After this transaction, 10 percent...
23. 23 in the partnership of Danvers and Edwards, Danvers has a capital of $10,000 and...
23. 23 in the partnership of Danvers and Edwards, Danvers has a capital of $10,000 and Edwards has a capital of $15,000. If Furgal wishes to invest $11,0000 and thereby receive a 1/4 interest in the business, the goodwill in the business has been computed to be worth A. $19,000 B. $33,000 D $8,000 C. $14,000
The Prince-Robbins partnership has the following capital account balances on January 1, 2015: Prince, Capital...
The Prince-Robbins partnership has the following capital account balances on January 1, 2015: Prince, Capital $ 145,000 Robbins, Capital 135,000 Prince is allocated 80 percent of all profits and losses with the remaining 20 percent assigned to Robbins after interest of 10 percent is given to each partner based on beginning capital balances. On January 2, 2015, Jeffrey invests $82,000 cash for a 20 percent interest in the partnership. This transaction is recorded by the goodwill method. After...
Marigold Corp. is considering the following alternatives: Alternative A $30000 18000 10000 Alternative B $46000 18000 16000 Revenues Variable costs Fixed costs What is the incremental profit? $10000 $2000 O $6000
Highrise partnership has a total partnership equity of $490,000,
which is made up of Susan, Capital, $210,000
Question 13 Highrise partnership has a total partnership equity of $490,000, which is made up of Susan, Capital, $210,000 and Joe, Capital, $280,000. The partners share profit/losses in a ratio 30% to Susan and 70% to Joe. On April 30, 2020, Jackie was admitted to the partnership and given a 20% interest in equity. Prepare the journal entries under the following unrelated assumptions,...
At year-end, the Circle City partnership has the following capital balances: $160,000 Manning Capital Gonzalez Capital Clark, Capital Freeney Capital 140,000 110,000 100,000 Profits and losses are split on a 3:3:2:2 basis, respectively. Clark decides to leave the partnership and is paid $126,000 from the business based on the original contractual agreement. The payment made to Clark beyond his capital account was for Clark's share of previously unrecognized goodwill. After recognizing partnership goodwill, what is Manning's capital balance after Clark...
Ali, Beck and Chris are equal partners in a partnership business engaged in shampoos. The capital accounts balances on 1 January 2017 were as follows: Ali $ 14000 Beck $ 13000 Chris $ 8500 No separate current accounts are kept and accounts are closed on 31st December each year. On 30 June 2017, Chris wanted to start his own business and he retired from the partnership. Ali and Beck agreed to continue to be equal partners. It was also agreed...
23. 23 in the partnership of Danvers and Edwards, Danvers has a capital of $10,000 and Edwards has a capital of $15,000. If Furgal wishes to invest $11,0000 and thereby receive a 1/4 interest in the business, the goodwill in the business has been computed to be worth A. $19,000 B. $33,000 D $8,000 C. $14,000
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