Arzadon, Ballada and Castro are partners. Their contributions are as follows: Arzadon - P600,000.00 Ballada -    400,000.00 Castro- services Partners Arzadon, Ballada and Castro agreed to divide profits or losses in the ratio of 35:25:40, respectively. How should a loss of P100,000 be shared by the partners?

Q: 9. How much is the equipment contributed by Rogers? * Romanoff and Barton are partners with capital…

A:

Q: Profit Distribution.                    Almazar and Viray  are partners in a business.  Almazar's…

A: Almazar and Viray are partners  Capital contribution of  Almazar = P400000 Viray = P600000 Interest…

Q: 10. Rowena and Xarr formed a partnership and agreed to divide initial capital equally, even though…

A: Answer is option d. P0

Q: 18. Gibo, Homer and Igno formed a partnership, Gibo being an induatrial partner while Homer and Igno…

A: Introduction: Partnership: It's an agreement between two or more partners for forming a business and…

Q: ag, Lee and Bench are partners having the following capital balances of P 11,200, P13,000 and P5,800…

A: In partnership accounting, two or more partners collectively run a business to earn profit with the…

Q: Hewitt and Patel are partners, sharing gains and losses equally. They decide to terminate their…

A: The partnership is an agreement between two or more partners where partners are agreed to work…

Q: A and B were partners sharing profits and losses in the ratio of 3:2. They admit C for 1/5th share…

A:

Q: considered. (Enter all allowances as positive values. Enter losses and capital deficits, if any, as…

A: Appropriation of profit indicates the allocation of net profit or loss incurred (after deducting…

Q: None

A: Understanding where specific information items are typically found in financial reports is crucial…

Q: Jerry and Chan have formed a partnership. Jerry contributed cash of 630,000 and computer equipment…

A: A partnership is an agreement between two or more persons in which they invest their capital, run a…

Q: Bing is trying to decide whether to accept a salary of P120,000 or a salary of P75,000 plus a bonus…

A: Partnership means where two or more person comes together to do some common business activity and…

Q: 2. How much cash must be contributed by each of the partners after they contributed their properties…

A: At the time of formation of Partnership the Assets and Liabilities will be taken at the Current Fair…

Q: The partners Aces, Hearts, Cloves and Joker share profit and loss equally.  Capital balances before…

A: The loss absorption proportion is calculated by prioritizing the payment to the partner by using a…

Q: Mr. J, Mr. K, Mr. E and Mr. S are partners in a firm sharing profits and losses in the ratio of 2:…

A: Gaining ratio = New ratio - Old Ratio

Q: A, B and C are partners with C as the industrial partner. A contributed P50,000 and B contributed…

A: In case of industrial partners ,profit are divided according to agreement. In case of losses,the…

Q: repare the opening journal entry in the books of the partnership.

A: Assets invested  other than cash and liabilities brought in by the partners  should be recorded  at…

Q: Mr. Azeem, Mr. Hashim and Mr. Shakeel are partners sharing profits in the ratio of 4:3:2. Mr. Azeem…

A: When a partner retires from partnership the profit share of the partner is divided among partners in…

Q: Mr. Ali and Mr. Sahil are partners sharing profit in the ratio of 3: 2. They agree to admit Mr.…

A: A partnership firm has the option to admit partners or remove them as and when required.

Q: ancis, Gary, and Joel are partners who share profits and losses in the ratio of 2:3:5. The partners…

A: Liquidation means where the business of firm is closed down , assets are sold out and liabilities…

Q: Orange and Lemon share profits and losses equally. They decided to liquidate their partnership when…

A: Liquidation means selling all the assets in the time of distress in order to pay the liabilities and…

Q: Phox and Ranch have decided to form a partnership.  They are in the process of agreeing on how the…

A: Partnership: Partnership is a form of business organization in which two or more two individuals…

Q: E, F, and G are partners sharing profits and losses. The combined salaries of E and G is P175,000…

A: (1) Combined Salaries of E and G = P 175,000 (2) Combined Salaries of E and F = P 165,000 (3) Total…

Q: How much is the total equity of the partnership immediately after the admission of C?

A: Admission of a partner into the partnership means that a new partner is entered into the business…

Q: Gerald and Julia are joining their separate businesses to form a partnership and they agreed to…

A: At the time of formation of Partnership the Assets and Liabilities will be taken at the Current Fair…

Q: Ranran, Sansan, and Tantan are forming a new partnership. The following are their contributions:…

A: The partnership comes into existence when two or more persons agree to do the business and further…

Q: 10. Tanya, Ursula and Vanessa are partners sharing profit and losses in the ratio 6:4:2 and with…

A: In the given question, T, U and V are partners and their profit and loss sharing ratio is 6:4:2 and…

Q: A, B and C are partners with C as industrial partner. A and B contribu P20,000 and P30,000…

A: Given Capital balance of A 20000 Capital balance of B 30000 Profit of year 1…

Q: 7. Flor and Gerby formed a partnership. Flor contributed cash of P30,000 and a computer costing…

A: Partnership It is an agreement by two or more parties to manage and operate business and profits are…

Q: A, B, and C are partners who each donated P6,000.00, P4,000, and P4,000, respectively, and…

A: The Accounting Information System (AIS) provides data that is needed for decision-making. It…

Q: capital of $50,000 each and share profits in a 40:20 ratio. Vroyn paid Hyun $2,000 for 1/2 of his…

A: The partnership comes into existence when two or more persons agree to do the business and further…

Q: Abram, Macher, and Bailey have capital balances of $20,000, $30,000, and $50,000, respectively. The…

A: Capital Allocation:Abram = 30000*20000 / (20000 + 30000 + 50000) = $6,000Macher = 30000*30000 /…

Q: Wong and White are partners. They have agreed to share profits based on a formula where the first…

A: Following is the  profit distribution.