Atkinson, capital (40% of all profits and losses). Kaporale, capital (30%).. Dennsmore, capital (20%) Rasputin, capital (10%).. $70,000 30,000 (42,000) (58,000)
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A local dental
If Rasputin contributes additional cash of $20,000 to the partnership, what should happen to it?
![Atkinson, capital (40% of all profits and losses).
Kaporale, capital (30%)..
Dennsmore, capital (20%)
Rasputin, capital (10%)..
$70,000
30,000
(42,000)
(58,000)](/v2/_next/image?url=https%3A%2F%2Fcontent.bartleby.com%2Fqna-images%2Fquestion%2F4e52cce9-8987-4970-8d23-6482e5857468%2F0003e3af-75a5-47e2-b2ef-73a23d5333d1%2Fmt0dkr.jpeg&w=3840&q=75)
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- H2. Please also try to answer c.A partnership is liquidating. The partners share profits and losses equally. After liquidating the assets and paying the liabilities, cash of $77,000 remains and the partners' capital accounts are as follows: (refer to image attached) How much cash will Fleet receive?Our topic is about partnership dissolution. What is the total capital balance after retirement of Marlin? What is the capital balance of Marvin after retirement of Marlin? What is the capital balance of Martin after retirement of Marlin? Thank you!!!
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- A Base and Zad are sharing income and loss in a 4:3:2 ratio respectively and decided to liquidate their partnership. Prior to the final distribution of cash to the partners. All has a capital balance of $(10,000), Basel has a capital balance of $24,000, and Ziad has a capital balance of $36,000. Also, cash balance is $50,000. All is NOT able to pay the amount he owes the partnership ?Which of the following two journal entries are right to record this liquidation case 6,000 4,000 Basel Capital A O Ziad Capital 10,000 All Capital 18,000 Basel capital 32,000 Ziad capital Cash 50,000 4,000 Basel Capital B O Ziad Capital 6,000 10,000 All Capital 18,000 32,000 Basel capital Ziad capital Cash 50,000 Basel Capital .CO Ziad Capital All Capital Basel capital Ziad capital Cash Basel Capital .D O Ziad Capital Ali Capital Basel capital Ziad capital Cash 50,000 10,000 50,000 10,000 50,000 السؤال 6 6,000 4,000 32,000 18,000 5,000 5,000 19,000 31,000Capital balances in the CARE Partnership are C’s capital P500,000, A’s capital P400,000, R’s capital P300,000, and E’s capital P200,000, and income ratios are 4:3:2:1, respectively. E withdraws from the firm following payment of P290,000 in cash from the partnership. A’s capital balance after recording the withdrawal of E is?Please I need answer for question No. 2 which is related to question No. 1 which already solved. Thanks Salim and Rashid form a partnership, investing OR 80,000 and OR 120,000, respectively. Required: Determine their shares of net income: Net income is OR 60,000. The first OR 30,000 is shared on the basis of partner capital balances. The next OR 20,000 is based on partner services, with Salim getting 40% and Rashid 60%. The remainder is shared equally. Step 1: Calculate the share of net income (OR30,000) based on partners’ capital balance. Step 2: Calculate the share of net income (OR 20,000) based on the percentage of partners’ service. Step 3: Calculate the share of net income (OR 10,000=(60,000–30,000–20,000)) based on equal share. Step 4: Prepare a statement showing the allocation of profit. 2. How can partnership profits and losses be allocated.
- Estephanie, Flordeliza, and Geralyn formed a partnership. Geralyn made a cash investment amounting to P 80,000. Given this information, how much is the expected total capital of the partnership if they desire equal capital balances?What is the journal entry to record the formation of the partnership? Charlie and Brown form a partnership and invest the following assets and liabilities Fair Market Value Carrying Value Mary Cash $ 50,000 $50,000 Land 70,000 40,000 Dawn Cash 16,000 16,000 Building 100,000 90,000 Mortgage Payable (60,000) (60,000) Assuming that the partners will share income and losses equally, prepare the entry to record the formation of the partnership.The following balance sheet is for a local partnership in which the partners have become very unhappy with each other. To avoid more conflict, the partners have decided to cease operations and sell all assets. Using this information, answer the following questions. Each question should be viewed as an situation related to the partnership’s liquidation. The $10,000 cash that exceeds the partnership liabilities is to be disbursed immediately. If profits and losses are allocated to Adams, Baker, Carvil, and Dobbs on a 2:3:3:2 basis, respectively, how will the $10,000 be divided? The $10,000 cash that exceeds the partnership liabilities is to be disbursed immediately. If profits and losses are allocated on a 2:2:3:3 basis, respectively, how will the $10,000 be divided? The building is immediately sold for $70,000 to give total cash of $110,000. The liabilities are then paid, leaving a cash balance of $80,000. This cash is to be distributed to the partners. How much of this money will each…
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