Liquidating Partnerships Prior to liquidating their partnership, Todd and Dunn had capital accounts of $62,000 and...
Liquidating Partnerships Prior to liquidating their partnership, Todd and Dunn had capital accounts of $62,000 and $119,000, respectively. Prior to liquidation, the partnership had no cash assets other than what was realized from the sale of assets. These partnership assets were sold for $216,000. The partnership had $7,000 of liabilities. Todd and Dunn share income and losses equally.
Homework Answers
As profit and loss of Todd and Dunn share equally the profit of $28000.
$28,000 * 50% = $14,000
Todd share of capital is 62,000 + 14000 = $76,000
Dunn Share Capital is 119,000 + 14,000 = $133,000.
Add Answer to:
Liquidating Partnerships Prior to liquidating their partnership, Todd and Dunn had capital accounts of $62,000 and...
Liquidating Partnerships Prior to liquidating their partnership, Todd and Dunn had capital accounts of $66,000 and...
Liquidating Partnerships Prior to liquidating their partnership, Todd and Dunn had capital accounts of $66,000 and $101,000, respectively. Prior to liquidation, the partnership had no cash assets other than what was realized from the sale of assets. These partnership assets were sold for $149,000. The partnership had $8,000 of liabilities. Todd and Dunn share income and losses equally. Determine the amount received by Todd as a final distribution from liquidation of the partnership. $ Prior to liquidating their partnership, Pepper...
Prior to liquidating their partnership, Todd and Dunn had capital accounts of $42,000 and $66,000, respectively....
Prior to liquidating their partnership, Todd and Dunn had capital accounts of $42,000 and $66,000, respectively. Prior to liquidation, the partnership had no cash assets other than what was realized from the sale of assets. These partnership assets were sold for $121,000. The partnership had $4,000 of liabilities. Todd and Dunn share income and losses equally. Determine the amount received by Todd as a final distribution from liquidation of the partnership. $
Liquidating Partnerships Prior to liquidating their partnership, Todd and Brooks had capital accounts of $56,000 and...
Liquidating Partnerships Prior to liquidating their partnership, Todd and Brooks had capital accounts of $56,000 and $91,000, respectively. Prior to liquidation, the partnership had no cash assets other than what was realized from the sale of assets. These partnership assets were sold for $165,000. The partnership had $6,000 of liabilities. Todd and Brooks share income and losses equally. Determine the amount received by Todd as a final distribution from liquidation of the partnership.
Liquidating Partnerships Prior to liquidating their partnership, Ellis and Dunn had capital accounts of $59,000 and...
Liquidating Partnerships Prior to liquidating their partnership, Ellis and Dunn had capital accounts of $59,000 and $100,000, respectively. Prior to liquidation, the partnership had no cash assets other than what was realized from the sale of assets. These partnership assets were sold for $140,000. The partnership had $6,000 of liabilities. Ellis and Dunn share income and losses equally. Determine the amount received by Ellis as a final distribution from liquidation of the partnership. $
Liquidating Partnerships Prior to liquidating their partnership, Perkins and Dunn had capital accounts of $68,000 and...
Liquidating Partnerships Prior to liquidating their partnership, Perkins and Dunn had capital accounts of $68,000 and $117,000, respectively. Prior to liquidation, the partnership had no cash assets other than what was realized from the sale of assets. These partnership assets were sold for $206,000. The partnership had $6,000 of liabilities. Perkins and Dunn share income and losses equally. Determine the amount received by Perkins as a final distribution from liquidation of the partnership.
Liquidating Partnerships Prior to liquidating their partnership, Ellis and Dunn had capital accounts of $59,000 and...
Liquidating Partnerships Prior to liquidating their partnership, Ellis and Dunn had capital accounts of $59,000 and $100,000, respectively. Prior to liquidation, the partnership had no cash assets other than what was realized from the sale of assets. These partnership assets were sold for $140,000. The partnership had $6,000 of liabilities. Ellis and Dunn share income and losses equally. Determine the amount received by Ellis as a final distribution from liquidation of the partnership. $
Liquidating Partnerships Prior to liquidating their partnership, MacPherson and Dunn had capital accounts of $35,000 and...
Liquidating Partnerships Prior to liquidating their partnership, MacPherson and Dunn had capital accounts of $35,000 and $66,000, respectively. Prior to liquldation, the partnership had no cash assets other than what was realized from the sale of assets. These partnership assets were sold for $120,000. The partnership had $3,000 of liabilities. MacPherson and Dunn share Income and losses equally. Determine the amount recelved by MacPherson as a final distribution from liquidation of the partnership.
Liquidating Partnerships Prior to liquidating their partnership, Todd and Gentry had capital accounts of $20,000 and...
Liquidating Partnerships Prior to liquidating their partnership, Todd and Gentry had capital accounts of $20,000 and $29,000, respectively. Prior to liquidation, the partnership had no cash assets other than what was realized from the sale of assets. These partnership assets were sold for $46,000. The partnership had $1,000 of liabilities. Todd and Gentry share income and losses equally. Determine the amount received by Todd as a final distribution from liquidation of the partnership. Check My Work 1. Begin with Todd...
Liquidating Partnerships Prior to liquidating their partnership, MacPherson and Dunn had capital accounts of $35,00...
Liquidating Partnerships Prior to liquidating their partnership, MacPherson and Dunn had capital accounts of $35,000 and $66,000, respectively. Prior to liquidation, the partnership had no cash asse other than what was realized from the sale of assets. These partnership assets were sold for $120,000. The partnership had $3,000 of liabilities. MacPherson and Dunn share Income and losses equally. Determine the amount received by MacPherson as a final distribution from liquidation of the partnership. X 1. Begin with MacPherson equity prior...
Prior to liquidating their partnership, Todd and Brooks had capital accounts of $52,000 and $94,000, respectively....
Prior to liquidating their partnership, Todd and Brooks had capital accounts of $52,000 and $94,000, respectively. Prior to liquidation, the partnership had no cash assets other than what was realized from the sale of assets. These partnership assets were sold for $130,000. The partnership had $7,000 of liabilities. Todd and Brooks share income and losses equally. Determine the amount received by Todd as a final distribution from liquidation of the partnership. $_____
Liquidating Partnerships Prior to liquidating their partnership, Todd and Brooks had capital accounts of $56,000 and $91,000, respectively. Prior to liquidation, the partnership had no cash assets other than what was realized from the sale of assets. These partnership assets were sold for $165,000. The partnership had $6,000 of liabilities. Todd and Brooks share income and losses equally. Determine the amount received by Todd as a final distribution from liquidation of the partnership.
Liquidating Partnerships Prior to liquidating their partnership, Perkins and Dunn had capital accounts of $68,000 and $117,000, respectively. Prior to liquidation, the partnership had no cash assets other than what was realized from the sale of assets. These partnership assets were sold for $206,000. The partnership had $6,000 of liabilities. Perkins and Dunn share income and losses equally. Determine the amount received by Perkins as a final distribution from liquidation of the partnership.
Liquidating Partnerships Prior to liquidating their partnership, MacPherson and Dunn had capital accounts of $35,000 and $66,000, respectively. Prior to liquldation, the partnership had no cash assets other than what was realized from the sale of assets. These partnership assets were sold for $120,000. The partnership had $3,000 of liabilities. MacPherson and Dunn share Income and losses equally. Determine the amount recelved by MacPherson as a final distribution from liquidation of the partnership.
Liquidating Partnerships Prior to liquidating their partnership, Todd and Gentry had capital accounts of $20,000 and $29,000, respectively. Prior to liquidation, the partnership had no cash assets other than what was realized from the sale of assets. These partnership assets were sold for $46,000. The partnership had $1,000 of liabilities. Todd and Gentry share income and losses equally. Determine the amount received by Todd as a final distribution from liquidation of the partnership. Check My Work 1. Begin with Todd...
Liquidating Partnerships Prior to liquidating their partnership, MacPherson and Dunn had capital accounts of $35,000 and $66,000, respectively. Prior to liquidation, the partnership had no cash asse other than what was realized from the sale of assets. These partnership assets were sold for $120,000. The partnership had $3,000 of liabilities. MacPherson and Dunn share Income and losses equally. Determine the amount received by MacPherson as a final distribution from liquidation of the partnership. X 1. Begin with MacPherson equity prior...
Most questions answered within 3 hours.
-
By 2025, annual consumption in emerging markets will total $30
trillion and contribute more than ________...
asked 11 seconds ago -
When rolling a die 129 times, what is the probability of rolling
a 6 no more...
asked 2 minutes ago -
At what point does reformation cease to be a viable option for
those who are oppressed...
asked 4 minutes ago -
Place letters corresponding to amounts in the proper order for
lightest to heaviest samples:
a) 2100...
asked 8 minutes ago -
Consider the multicore processor with 6 heterogeneous cores
labelled C1, C2, C3, C4, C5, and C6....
asked 11 minutes ago -
Document system components according to standards and procedures
(Implement and hand over system components) IT administrative
asked 11 minutes ago -
The college asked 700 students if they wanted a longer spring
break and 600 students said...
asked 10 minutes ago -
Determine the temperature (in Celsius) at which 1.00 mole of an
ideal gas will have a...
asked 35 minutes ago -
Japan’s combination of X and Y
Canada’s combination of X and Y
100x and 0y
50x...
asked 27 minutes ago -
[1] Household statistics include individuals living alone or in
groups in:
A) apartments.
B) military barracks....
asked 38 minutes ago -
What is the % w/v when 80 mL of a 2.0% solution is mixed with 50...
asked 42 minutes ago -
How can I solve the following using a TI83
Claim: Most adults would erase all of...
asked 54 minutes ago