Homework Answers
137: option b ,the basis of income ratios before admission of new partner.
153: option a, neither salaries to patners nor partners capital are expenses of patnership firm.
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Please I need them for tonight.. Multiple Choice Question 137 When admitting a new partner by investment, a bonus t...
These are all multiple choice questions. I need your help, and I need them for tonight....
These are all multiple choice questions. I need your help, and
I need them for tonight. Please... Thank you ?
We were unable to transcribe this imageMultiple Choice Question 136 When admitting a new partner by investment, a bonus to old partners is sometimes justified because goodwill may exist and it is not reflected in the accounts. is usually unjustified because book values clearly reflect partnership net worth. results if the debit to cash is equal to the new partner's...
Multiple Choice Question 136 When admitting a new partner by investment, a bonus to old partners is sometimes justi...
Multiple Choice Question 136 When admitting a new partner by investment, a bonus to old partners is sometimes justified because goodwill may exist and it is not reflected in the accounts. is usually unjustified because book values clearly reflect partnership net worth. results if the debit to cash is equal to the new partner's capital credit. results if the debit to cash is less than the new partner's capital credit. O
26. In admission of a new partner by investment, bonus is recorded when A total agreed...
26. In admission of a new partner by investment, bonus is recorded when A total agreed capital is less than total contributed capital B. total agreed capital is equal to total contributed capital and the capital credit of the new parner s greater than his capital contribution C. total agreed capital is equal to total contributed capital. D. total agreed capital is equal to total contributed capital and the capital credit of the old partners is equal to their capital...
CP 12–3 Assume the following information just prior to the admission of new partner I: Assets...
CP 12–3 Assume the following information just prior to the admission of new partner I: Assets Liabilities Cash 5,000 Accounts Payable 8,000 Accounts Receivables 43,000 Partners’ Capital G, Capital 30,000 H, Capital 10,000 40,000 48,000 48,000 Required: Prepare journal entries to record the following unrelated scenarios: 1. New partner I purchases partners G’s partnership interest for $40,000. 2. New partner I receives a cash bonus of $2,000 and a one-tenth ownership share, allocated equally from the partnership interests of G...
Admitting New Partner With Bonus Cody Jenkins and Lacey Tanner formed a partnership to provide landscaping...
Admitting New Partner With Bonus Cody Jenkins and Lacey Tanner formed a partnership to provide landscaping services. Jenkins and Tanner shared profits and losses equally. After all the tangible assets have been adjusted to current market prices, the capital accounts of Cody Jenkins and Lacey Tanner have balances of $69,000 and $90,000, respectively. Valeria Solano has expertise with using the computer to prepare landscape designs, cost estimates, and renderings. Jenkins and Tanner deem these skills useful; thus, Solano is admitted...
having trouble of how to go about this problem... *Problem 12-04A a-b At April 30, partners'...
having trouble of how to go about this problem...
*Problem 12-04A a-b At April 30, partners' capital balances in Pharoah Company are G. Donley $53,400, C. Lamar $45,000, and J. Pinkston $20,600. The income sharing ratios are 5 : 4:1, respectively. On May 1, the PDLT Company is formed by admitting ). Terrell to the firm as a partner. Journalize the admission of Terrell under each of the following independent assumptions. (Credit account titles are automatically indented when amount is...
At April 30, partners' capital balances in Oriole Company are G. Donley $45,200, C. Lamar $49,200,...
At April 30, partners' capital balances in Oriole Company are G. Donley $45,200, C. Lamar $49,200, and J. Pinkston $20,000. The income sharing ratios are 5 : 4:1, respectively. On May 1, the PDLT Company is formed by admitting J. Terrell to the firm as a partner. Journalize the admission of Terrell under each of the following independent assumptions. (Credit account titles are automatically indented when amount is entered Do not indent manually. Round answers to 0 decimal places, e.g....
At April 30, partners' capital balances in Sheridan Company are G. Donley $51,000, C. Lamar $48,200,...
At April 30, partners' capital balances in Sheridan Company are G. Donley $51,000, C. Lamar $48,200, and J. Pinkston $17,200. The income sharing ratios are 5:4:1, respectively. On May 1, the PDLT Company is formed by admitting J. Terrell to the firm as a partner. Journalize the admission of Terrell under each of the following independent assumptions. (Credit account titles are automatically indented when amount is entered. Do not indent manually. Round answers to 0 decimal places, e.g. 5,275.) (1)...
17. A deficient partner A s assumed to be always insolvent B who is solvent and...
17. A deficient partner A s assumed to be always insolvent B who is solvent and has a loan to the st a tes the right of C should inmediately withdraw from the partnership D may invest additional cash The partners did not agree is to how t h e guided then ch should be divided among partners A based on original capital to B arbitrary ratio C equally D. based on ending capital ratio 19. The total partners' equity...
Admitting new partner with bonus Instructions Chart of Accounts Starting Que Instructions Cody Jenkins and Lacey...
Admitting new partner with bonus Instructions Chart of Accounts Starting Que Instructions Cody Jenkins and Lacey Tanner formed a partnership to provide landscaping services. Jenkins and Tanner shared profits and losses equally. After all the tangible assets have been adjusted to current market prices, the capital accounts of Cody Jenkins and Lacey Tanner have balances of $75,100 and $36.000, respectively. Valeria Solano has expertise with using the computer to prepare landscape designs, cost estimates, and renderings. Jenkins and Tanner deem...
These are all multiple choice questions. I need your help, and
I need them for tonight. Please... Thank you ?
We were unable to transcribe this imageMultiple Choice Question 136 When admitting a new partner by investment, a bonus to old partners is sometimes justified because goodwill may exist and it is not reflected in the accounts. is usually unjustified because book values clearly reflect partnership net worth. results if the debit to cash is equal to the new partner's...
Multiple Choice Question 136 When admitting a new partner by investment, a bonus to old partners is sometimes justified because goodwill may exist and it is not reflected in the accounts. is usually unjustified because book values clearly reflect partnership net worth. results if the debit to cash is equal to the new partner's capital credit. results if the debit to cash is less than the new partner's capital credit. O
26. In admission of a new partner by investment, bonus is recorded when A total agreed capital is less than total contributed capital B. total agreed capital is equal to total contributed capital and the capital credit of the new parner s greater than his capital contribution C. total agreed capital is equal to total contributed capital. D. total agreed capital is equal to total contributed capital and the capital credit of the old partners is equal to their capital...
Admitting New Partner With Bonus Cody Jenkins and Lacey Tanner formed a partnership to provide landscaping services. Jenkins and Tanner shared profits and losses equally. After all the tangible assets have been adjusted to current market prices, the capital accounts of Cody Jenkins and Lacey Tanner have balances of $69,000 and $90,000, respectively. Valeria Solano has expertise with using the computer to prepare landscape designs, cost estimates, and renderings. Jenkins and Tanner deem these skills useful; thus, Solano is admitted...
having trouble of how to go about this problem...
*Problem 12-04A a-b At April 30, partners' capital balances in Pharoah Company are G. Donley $53,400, C. Lamar $45,000, and J. Pinkston $20,600. The income sharing ratios are 5 : 4:1, respectively. On May 1, the PDLT Company is formed by admitting ). Terrell to the firm as a partner. Journalize the admission of Terrell under each of the following independent assumptions. (Credit account titles are automatically indented when amount is...
At April 30, partners' capital balances in Oriole Company are G. Donley $45,200, C. Lamar $49,200, and J. Pinkston $20,000. The income sharing ratios are 5 : 4:1, respectively. On May 1, the PDLT Company is formed by admitting J. Terrell to the firm as a partner. Journalize the admission of Terrell under each of the following independent assumptions. (Credit account titles are automatically indented when amount is entered Do not indent manually. Round answers to 0 decimal places, e.g....
At April 30, partners' capital balances in Sheridan Company are G. Donley $51,000, C. Lamar $48,200, and J. Pinkston $17,200. The income sharing ratios are 5:4:1, respectively. On May 1, the PDLT Company is formed by admitting J. Terrell to the firm as a partner. Journalize the admission of Terrell under each of the following independent assumptions. (Credit account titles are automatically indented when amount is entered. Do not indent manually. Round answers to 0 decimal places, e.g. 5,275.) (1)...
17. A deficient partner A s assumed to be always insolvent B who is solvent and has a loan to the st a tes the right of C should inmediately withdraw from the partnership D may invest additional cash The partners did not agree is to how t h e guided then ch should be divided among partners A based on original capital to B arbitrary ratio C equally D. based on ending capital ratio 19. The total partners' equity...
Admitting new partner with bonus Instructions Chart of Accounts Starting Que Instructions Cody Jenkins and Lacey Tanner formed a partnership to provide landscaping services. Jenkins and Tanner shared profits and losses equally. After all the tangible assets have been adjusted to current market prices, the capital accounts of Cody Jenkins and Lacey Tanner have balances of $75,100 and $36.000, respectively. Valeria Solano has expertise with using the computer to prepare landscape designs, cost estimates, and renderings. Jenkins and Tanner deem...
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