From the records of the DTA Partnership, *please refer on the image below a. P2,000; P200, respectively b. P5,000; P-0-, respectively c. P1,500; P1,000, respectively
Q: If a new partner was admitted into the partnership by purchasing the interest of an existing partner…
A: Partnership refers to the contract among the parties who are interested in carrying out the…
Q: A and B formed a partnership. The partnership agreement stipulates the following: * First, A shall…
A: Respective Shares of both the partners is computed as under:
Q: Using the bonus method, provide the journal entry to record the initial investments of the partners.
A: Partnership is the legal form of business organization formed under the guidelines of relevant…
Q: The partnership capital is 300,000 and its total liabilities are 100,000. if the assets of the…
A: Current valuation of asset = partnership capital + current valuation of Liabilities Current…
Q: TM and SJ, having capital balances of P980,000 and P525,000 respectively, decided to admit GD into…
A: Amount by which SJ’s capital is credited on admission of GD = Change in capital balance…
Q: Determine the amount of consideration that Clayton should have to convey in order to acquire 20% of…
A: Given information is: Share of new partner = 20% Value of assets and liabilities is also given
Q: el, Ere and Inie are in partnership sharing profits and losses in the ratio 3:2:1 respectively. The…
A: Partnership refers to the legal act of agreement between two or more partners who have mutually…
Q: The AB Partnership has the following plan for the distribution of partnership net income (loss) as…
A: Partnership refers to the agreement or contract among two or more individuals or persons who wants…
Q: 5. Assume that a partnership had assets with a book value of P240,000 and a market value of…
A: Liquidation of Partnership Firm: Liquidation of the Partnership firm means dissolution of the the…
Q: 4 The partnership agreement of 0, YY&z provides for the yearend allocation of net income in the…
A: Here in this question, we are required to calculate the share in net income earned by the XX.…
Q: Martinsburg Town Partnership has two equal partners with capital accounts and outside bases as…
A: A partnership is a type of business run by the partners like two or more individuals, in an…
Q: 2. A and B agreed to form a partnership. A shall contribute ₱80,000 cash while B shall contribute…
A: Partnership is the legal form of business organization formed under the guidelines of relevant…
Q: Problem: ABC Partnership was formed in year 2021. Just before distribution of profit and loss, the…
A: The partnership comes into existence when two or more persons agree to do the business and share…
Q: Give the entry to record the investment of Alonzo into the partnership under each of the following…
A: "As per the policy of our company, In case of multiple questions asked then, we are allowed to…
Q: 14. banero formed a partnership with each contributing the following assets: Cabañero P502,500…
A: PARTNERSHIP : It is an arrangement between two or more people who are in the contract or agreement…
Q: Xavier and Yolanda have original investments of $50,300 and $107,800, respectively, in a…
A: Total interest = total capital x interest rate = (50300+107800) *20% = $31620 Interest to Yolanda =…
Q: this is partnership fomation 1. the asset contribution of the partnership, and any related…
A: Step 1 Hello. Since your question has multiple parts, we will solve first question for you. If you…
Q: On December 31, 202, the Statement of Financial Position of UFC Partnership shows the following data…
A: Profit or loss of the company is measured by preparing income statement which shows the difference…
Q: LCX, MRD, and NTJ are partners in LMN Partnership. The partnership contract stipulated that profit…
A: Salaries to Partners are given out of net profits. It is shown in profit and loss appropriation…
Q: If an existing asset of ABC partnership is not properly valued, what is the capital balance of B…
A: Information Provided: A capital = 2,800,000 B capital = 1,400,000 C capital = 1,800,000 D capital…
Q: On April 1, 2021, A1, A2, A3 formed a partnership by combining their separate business…
A: The assets contributed by partners are recorded at the fair market value of particular assets. Any…
Q: X, Y, and Z formed a partnership on Jnauary 1, 2021, and contributed P150,000; P200,000; P300,000,…
A: Lets understand the basics. Partnership is an agreement between two or more person who works…
Q: Shoyo and Tobio are combining separate businesses to form a partnership. Cash and non-cash assets…
A: Partnership means where two or more person comes together to do some common business activity and…
Q: 1. The ABC Partnership reports net income of P60,000. If Partners A, B, and C have income ratio of…
A: “Since you have asked multiple questions, we will solve the first question for you. If you want any…
Q: On September 1, 20xx, Darren and Darryl agreed to combine their businesses and form a partnership.…
A: For Darren : For Darryl :
Q: In the ABC partnership (to which D seeks admittance), the capital balances of A, B, and C, who share…
A: A partnership business is the form of business, where two or more parties enter into an agreement to…
Q: In the ABC partnership (to which D seeks admittance), the capital balances of A, B, and C, who share…
A: Estimated amount to be invested by D for a 20% interest = Total capital of the partnership after…
Q: Required: 1. Determine the distribution of partnership income assuming the partnership income is…
A: Partnership is a business in which two or more than more persons join hands to carry out common…
Q: 22. The balance sheet as of September 30, 2030, for the partnership of DDD, EEE and FFF shows the…
A: Following is the answer to the given question
Q: MM, NN, and OO have a partnership. Their capital 'balances are P90,000, P130,000, and P170,000,…
A: BONUS METHOD: The bonus method is applied to permit a new add-on partner with additional capital in…
Q: The balance sheet as of July 31, 2018 for the partnership of X, Y, and Z show the following…
A: The bonus to the partner is the amount paid to the partner over the amount attributable to him at…
Q: 3. A and B agreed to form a partnership. A contributed P40,000 cash while B contributed equipment…
A: Working Notes: 1. As the partners agreed that they should initially have an equal interest in the…
Q: The partnership agreement provides of Xx, YY and ZZ provides for the year end allocation of net…
A: Solution: Profits of partnership are allocated among partners as per the terms of partnership. In…
Q: Mr. A, Mr. Band Mr. C agreed to form a partnership. Mr. A will contribute cash in the amount of…
A: The correct option is second which is P 1,400,000. Total assets of Partnership = Cash contributed…
Q: The balance sheet as of September 30, 2030, for the partnership of DDD, EEE and FFF shows the…
A: Following is the answer to the given question
Q: Clayton is attempting to consider the price to be paid for a partnership interest. The exiting…
A: Step 1 Partnership is the agreement between the two or more partners which carried the business…
Q: In the AB partnership, A's capital is P150,000 and B's capital P50,000 and they share income in a…
A: Initial capital balance of partners is = P150,000 + P50,000 = P200,000 Revised total capital will be…
Q: the amount of liabilities is 165,000 and the percentage of owner’s claim in the total partnership’s…
A: Solution: As per general accounting equation, assets are equal to the sum of liabilities and equity.…
Q: PARTNERSHIP INCOME DISTRIBUTION: For partnership Y, if total partners salary allowances are 300,000,…
A: Given: Salary allowance 300,000 Total interest 400,000 Remainder of the partnership net income…
Q: 1) C is admitted in the partnership of A and B by investing P120,000 for an interest equal to…
A: In partnership fair value of assets decrease in revaluation then decrease in partners capital…
Q: On June 30, 2030, the statement of financial position for the partnership of XYZ, together with…
A: Following is the answer to the given question.
Q: Which of the following items is NOT separately stated on a general partnership's Schedule K? a)…
A: The question is multiple choice question. Required Choose the Correct Option.
Q: The equal DEF partnership has the following balance sheet: Cash and other assets $400,000 Recourse…
A: Introduction: Partnership: Its an agreement between two or more partners for forming a business and…
Q: X, Y, and Z formed a partnership on Jnauary 1, 2021, and contributed P150,000; P200,000; P300,000,…
A: Partners Capital Account is an account created in the books of a partnership firm. It records each…
Q: ______ If the amount of liabilities is P165,000 and the percentage of owner’s claim in the total…
A: Balance sheet means where all assets , liabilities and capital is shown. Balance sheet always match…
Q: How much should A and C receive upon liquidation of the partnership?
A: Partnership is the legal form of business organization which is established by multiple individuals…
Q: What is the journal entry to record the formation of the partnership? Charlie and Brown form a…
A: Partnership:- It is the formal agreement between two or more people to jointly operate a company.…
Q: X, Y, and Z formed a partnership on Jnauary 1, 2021, and contributed P150,000; P200,000; P300,000,…
A: Lets understand the basics. Average capital can be calculated based on the how much period how much…
Step by step
Solved in 2 steps
- Refer to the information for Cornett Company above. What amount should Cornett report on its statement of cash flows as net cash flows provided by investing activities? a. $(5,200) b. $55,200 c. $144,800 d. None of theseCashbalance,beginning.....................P9 P ? P ? P? P?Add collectionsfromcustomers..... ? ? 125 ? 391Totalcash available................... 85 ? ? ? ?Less disbursements:Purchaseofinventory..................... 40 58 ? 32 ?Operatingexpenses............... ? 42 54 ? 180Equipmentpurchases................... 10 8 8 ? 36Dividends.......................... 2 2 2 2 ?Totaldisbursement.................... ? 110 ? ? ?Excess (deficiency) of cash availableOrdisbursements... ...................... (3) ? 30 ? ? Financing:Borrowings......................... ? 20 - - ?Repayments (including interest)*.. - - (?) (7) (?)Total financing......................... ? ? (?) (?) ?Cash balance, ending................... P ? P ? P ? P ? P ? *Interest will total P4, 000 for the year.LiabilitiesOMRAssetsOMRShare capital400,000Land and building280,000Net profit60,000Plant and machinery700,000General reserve80,000Stock400,000Debentures840,000Debtors200,000Creditors200,000Bills receivables20,000Bills payable100,000Cash80,000Total1,680,000Total1,680,000 1>calculate total current liabilites 2>calculate total Current assets
- Under the indirect method, how much should be reported as cash flows from operating activities? a. P 780,000b. P 550,000c. P 600,000d. P 750,000What is the total cash received from the financing of receivables and the amount of loss, respectively? P1,420,000 and P150,000 P1,320,000 and P150,000 P1,320,000 andP50,000 P1,420,000 and P50,000Comment on the Cash flows from operating activities R756 000; Increase in receivables (R396 000) and Cash flows from investing activities (R1 368 000)
- answers are given. Only need solutions What is the net cash provided by operating activities? a) P90,000b) P108,000c) P153,000-answerd) P75,000 51. Using the data in no. 50, what is the net cash provided (used) by investingactivities?a) (P108,000)-answerb) P90,000c) P18,000d) (P132,000) 52.Using the data in no. 50, what is the net cash provided (used) by financing activities?a) (P162,000)-answerb) P72,000c) (P90,000)d) P18,000How many IRRs could the following cash flows produce? YR CF 0 -200,000 1 -50,000 2 80,000 3 90,000 4 120,000 5 70,0003. Following information is available in respect of A LtdParticulars As on 31.3.2019(Rupees. In Lacs)As on 31.3.2020(Rupees. In Lacs)Investment in FinancialAssets- 100Equity Share Capital 150 160Long term Loans taken 100 200Dividend paid - 26Dividend received - 10Interest received - 15a. Prepare the cash flow from financing activities from the above information and givereasons for each element whether these elements belongs to financing activities or not. b. Calculate the relationship between the debt and equity for the year 2019 and 2020, andcomment
- 3. Following information is available in respect of A LtdParticulars As on 31.3.2019(Rupees. In Lacs)As on 31.3.2020(Rupees. In Lacs)Investment in Financial Assets - 100Equity Share Capital 150 160Long term Loans taken 100 200Dividend paid - 26Dividend received - 10Interest received - 15a. Prepare the cash flow from financing activities from the above information and give reasons for each element whether these elements belongs to financing activities or notXander Inc. has prepared the following sensitivity analysis: Line Item Description Amount Amount Amount Estimated Annual Net Cash Flow $500,000 $600,000 $700,000 Present value of annual net cash flows (× 4.487) $2,243,500 $2,692,200 $3,140,900 Present value of residual value 50,000 50,000 50,000 Total present value $2,293,500 $2,742,200 $3,190,900 Amount to be invested (3,000,000) (3,000,000) (3,000,000) Net present value $(706,500) $(257,800) $190,900 In addition, it has assigned the following likelihoods to the three possible annual net cash flows: $500,000, 70%; $600,000, 20%; and $700,000, 10%. Based on an expected value analysis, which of the following statements is accurate? a. The expected value of the annual net cash flow is $540,000, and the project should be accepted. b. The expected value of the annual net cash flow is $660,000, and the project should be accepted. c. The expected value of the annual net cash flow is $660,000, and the project…A. How much is the net cash flow from operating? O P1,315,000 O P1,405,000 O P1,565.000 O P1,155,000 B. How much is the net cash flow from investing? O P 600,000 O (P250,000) O P450.000 O (P850,000)