TheBalance Sheet of L and M who share profits and losses in the ratio of 2:3 as at 31.3.2015was as under:BALANCE SHEETas at 31.03.2015Liabilities$Assets$Creditors25,000 | Cash40,000N's Loan55,000 | Debtors50,000L's Capital80,000 Stock47,000M's Capital70,000 | Furniture30,000Machinery43,000Goodwill15,000Profit and Loss A/c5,0002,30,0002,30,000On 1.4.2015, N was admitted into partnership forth share, on the following terms :-(a) That N's Loan should be treated as his capital.(b) N could not bring $35,000 as his share of goodwill in cash. It was decided not toshow goodwill account anywhere in books and for this purpose existing goodwillshould also be written off.(c) Assets be revalued as under:Machinery $ 52,000; Furniture $ 20,000; Stock $ 50,000.Prepare Revaluation Account, Partners’ Capital Accounts and Balance Sheet ason 1.4.2015.

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Balance Sheet of L and M who share profits and losses in the ratio of 2:3 as at 31.3.2015 vas as under: BALANCE SHEET as at 31.03.2015 Liabilities $ Assets $ Creditors 25,000 Cash 40,000 d's Loan 55,000 | Debtors 50,000 's Capital 80,000 Stock 47,000 I's Capital 70,000 | Furniture 30,000 Machinery 43,000 Goodwill 15,000 Profit and Loss A/c 5,000 2,30,000 2,30,000 1 On 1.4.2015, N was admitted into partnership for – th share, on the following terms :- 4 (a) That N's Loan should be treated as his capital. (b) N could not bring $35,000 as his share of goodwill in cash. It was decided not to show goodwill account anywhere in books and for this purpose existing goodwill should also be written off. (c) Assets be revalued as under: Machinery $ 52,000; Furniture $ 20,000; Stock $ 50,000. Prepare Revaluation Account, Partners’ Capital Accounts and Balance Sheet as

Balance Sheet of L and M who share profits and losses in the ratio of 2:3 as at 31.3.2015 vas as under: BALANCE SHEET as at 31.03.2015 Liabilities $ Assets $ Creditors 25,000 Cash 40,000 d's Loan 55,000 | Debtors 50,000 's Capital 80,000 Stock 47,000 I's Capital 70,000 | Furniture 30,000 Machinery 43,000 Goodwill 15,000 Profit and Loss A/c 5,000 2,30,000 2,30,000 1 On 1.4.2015, N was admitted into partnership for – th share, on the following terms :- 4 (a) That N's Loan should be treated as his capital. (b) N could not bring $35,000 as his share of goodwill in cash. It was decided not to show goodwill account anywhere in books and for this purpose existing goodwill should also be written off. (c) Assets be revalued as under: Machinery $ 52,000; Furniture $ 20,000; Stock $ 50,000. Prepare Revaluation Account, Partners’ Capital Accounts and Balance Sheet as

Cornerstones of Financial Accounting

4th Edition

ISBN:9781337690881

Author:Jay Rich, Jeff Jones

Publisher:Jay Rich, Jeff Jones

Chapter9: Long-term Liabilities

Section: Chapter Questions

Problem 89E: Ratio Analysis Rising Stars Academy provided the following information on its 2019 balance sheet and...

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Hello, I have the following: Consolidated Balance Sheet Dec 31, 2017, 2016 2015 (in millions) 2017 2016 2015 Current Assets $734 $ 959 $ 813 Other Assets $2,421 $ 1,928 $ 1727 Total Assets $3,155 $2,887 $ 2,540 Current Liab. $585 $ 838 $ 731 Long Term Liab. $ 1,555 $ 1,015 $ 883 Stockhldrs Equity $ 1,015 $1,034 $ 926 Total Liab & S.E. $3,155 $2,887 $2,540 Selected Income Statement ending Dec 31, 2017 and 2016. in millions. 2017…
Hello, I have the following: Consolidated Balance Sheet Dec 31, 2017, 2016 2015 (in millions) 2017 2016 2015 Current Assets $734 $ 959 $ 813 Other Assets $2,421 $ 1,928 $ 1727 Total Assets $3,155 $2,887 $ 2,540 Current Liab. $585 $ 838 $ 731 Long Term Liab. $ 1,555 $ 1,015 $ 883 Stockhldrs Equity $ 1,015 $1,034 $ 926 Total Liab & S.E. $3,155 $2,887 $2,540 Selected Income Statement ending Dec 31, 2017 and 2016. in millions. 2017…
Hello, I have the following: Consolidated Balance Sheet Dec 31, 2017, 2016 2015 (in millions) 2017 2016 2015 Current Assets $734 $ 959 $ 813 Other Assets $2,421 $ 1,928 $ 1727 Total Assets $3,155 $2,887 $ 2,540 Current Liab. $585 $ 838 $ 731 Long Term Liab. $ 1,555 $ 1,015 $ 883 Stockhldrs Equity $ 1,015 $1,034 $ 926 Total Liab & S.E. $3,155 $2,887 $2,540 Selected Income Statement ending Dec 31, 2017 and 2016. in millions. 2017…
Hello, I have the following: Consolidated Balance Sheet Dec 31, 2017, 2016 2015 (in millions) 2017 2016 2015 Current Assets $734 $ 959 $ 813 Other Assets $2,421 $ 1,928 $ 1727 Total Assets $3,155 $2,887 $ 2,540 Current Liab. $585 $ 838 $ 731 Long Term Liab. $ 1,555 $ 1,015 $ 883 Stockhldrs Equity $ 1,015 $1,034 $ 926 Total Liab & S.E. $3,155 $2,887 $2,540 Selected Income Statement ending Dec 31, 2017 and 2016. in millions. 2017…
From the following balance sheet of Sohel & Co Ltd as at 31st March 2013 and also comment on the ratios. You may use online sources to write about the ratios. Liabilities Amount (RO) Assets Amount (RO) Equity shares capital 6%Preference share capital 7%Debentures 8% Public Debt Bank over draft Creditors Outstanding expenses Proposed dividend Reserves Provision for taxation Net Profit 100,000 100,000 40,000 20,000 40,000 60,000 7,000 10,000 150,000 20,000 20,000 567,000 Cash in hands Cash at bank Bills Receivable Short term investment Debtors Stocks Furniture Machinery Land and Building Good will Preliminary Expenses 3,000 9,000 30,000 20,000 70,000 40,000 30,000 100,000 220,000 35,000 10,000 567,000 Net Sales - 200000 d) Return on Equity