How much was cash was distributed to the partners?

Q: Which one of the following is a gain to the partnership firm? a. Interest on loan from bank b.…

A: Partnership firm is considered as a separate entry from its partnership. So even when interest on…

Q: Cash basis net income and Accrual basis net income will equal in the long run.   Question 1…

A: Cash basis net income: In cash basis accounting only, those transactions are recorded where there…

Q: Increase in the value of bills payable will be: a. Credited to partners' capital account b. Debited…

A: The revaluation account is prepared to adjust the change in values of assets and liabilities.

Q: Guaranteed payments to partners go on what two lines of the Form 1065? What type of interest goes on…

A: A partnership is a form of business in which two or more than persons agree to carry common…

Q: How does partnership accounting differ from corporate accounting?

A: Accounting: Accounting is a system, or a process of collecting and organizing economic transactions,…

Q: for the cash flow to shareholders wouldnt the addition to retain earning be included?

A: Cash flow is the movement of cash. It can be inflow or outflow. Where cash comes comes, it is called…

Q: When can partnership/S corporation income can be used. Choose best answer  A) Rental income and…

A: (1) S corporation is considered as a closely held corporation by the Internal Revenue Code (IRC) of…

Q: How would you advise the partners in developing a method for dividing income?

A: Partnership:   Partnership is firm where two or more persons come together to business to share the…

Q: During a liquidation, in what instance when cash may be distributed to any of the other partners?

A: When two or more persons join their hands for one business that is known as partnership.

Q: Identify which one of the following term is falling under the meaning of wealth maximization: a.…

A: Option Explanation a The government's Wealth is the wealth accrued to Government. b…

Q: How should losses in a partnership be divided between the capitalist partners? The ranking should…

A: Partnership is an agreement between persons, who invest their money, run business and then share…

Q: None

A: Partners typically when it comes allocating the share of profit and expenses to each of partner…

Q: Interest on capital

A: Which one of the following is a gain to the partners ? Correct Answer :- D Interest on Capital

Q: Which of the following statements correctly gives the account to be debited and the account to be…

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

Q: How does the Fed manage money?

A: The monetary policy of the Federal Reserve System controls the amount of money in circulation. It…

Q: ortion

A: Corporation earning can we sub divided into parts  Use to distribute the dividend  Retain the…

Q: Which one of the following is a gain to the partnership firm? a.Interest on drawings b.Interest on…

A: Solution: Interest on capital is expense or division of profit by partnership to partners. Interest…

Q: Where does the idle cash is invested by the managers?

A: Idle cash refers to the cash which is kept aside without using for any payment or investment.

Q: 10. A schethle of cash distrilution is prepared, When the cash is sufficient, to determine among the…

A: Answer :- correct answer is true .

Q: When a partner makes a cash withdrawal that is intended to be a permanent reduction in his or her…

A: Financial accounting refers to the type of accounting which is primarily used by the outsiders to…

Q: What methods can be used to speed up a firm’s cash inflows?

A: Cash inflows:Cash inflow can be defined as cash or money attained by an institution, firm or company…

Q: How to determine the distribution of available cash when one or more partners has a deficit capital…

A: Distribution of cash during liquidation/termination of the partnership is a whole process in which…

Q: Which one of the following will be added to the current liabilities in the balance sheet? a.…

A: Answer: Current liabilities are the liabilities which are expected to be cleared off within the…

Q: When is the intra-entity’s profits recognized on transfers between the investor and investee?

A: The period in which intra-entity’s profits recognized on transfers between the investor and investee…

Q: What is private placement of public equity (PIPE)?

A: When an investor buys shares of publicly traded companies at mutual and negotiated terms of…

Q: how did you get the numbers for cash dividend preferred and cash dividend common

A:

Q: What does issue of debentures for consideration other that cash means?

A: Debenture Issued for consideration other than cash:A company can purchase assets from other…

Q: 21. The purpose of preparation of Profit and loss appropriation account is: a. To know the balance…

A: Answer -   P&L Appropriation Account is basically prepared to show the appropriation or…

Q: 1.  How did you calculate the depreciation? 2. How did you calculate the profit in the partner's…

A: Depreciation is calculated by various methods like the straight-line method, declining balance…

Q: Generally speaking, what events or activities would normally result in a partner’s capital account…

A: Partners’ Capital has a credit balance in normal. So, any credit will increase the partners’ capital…

Partnership Accounting

A partnership is a kind of arrangement between two or more people whereby they agree to manage the business operations and share its profits and losses in an agreed ratio between them. The agreement that is drafted and signed by the partners of the firm is termed as partnership deed and contains various important clauses agreed between the partners such as profit/loss sharing, interest on capital, remuneration allocation of each partner, drawings, admission of a new partner, etc. 

Partner Admission and Withdrawal

A partnership is a kind of arrangement between two or more people whereby they agree to manage the business operations and share its profits and losses in an agreed ratio between them. The agreement that is drafted and signed by the partners of the firm is termed as a partnership deed and contains various important clauses agreed between the partners such as profit/loss sharing, interest on capital, remuneration allocation of each partner, drawings of a partner, etc.