The partnership capital is 300,000 and its total liabilities are 100,000. if the assets of the partnership are undervalued by 20% and the liabilities are overvalued by 10%, how much is the correct amount of Partner B’s capital if his interest in the partnership is 40%

Q: partnership of $18,000. Lou's basis in the land after the distribution is: a. $35,000 C. $25,000 b.…

A: Given :> Lou's Outside basis = $ 35,000> following  distributions to Lou    > Cash and…

Q: PARTNERSHIP INCOME DISTRIBUTION: For partnership H, if Partner D’s total share of the partnership’s…

A: The net income of the partnership business is distributed among the partners, in form of interest on…

Q: A, B and C partnership shows the following profit and loss ratios and capital balances: A 60%…

A: Solution: Total partnership assets after revaluation = $90,000 / 20% = $450,000 Existing book value…

Q: P invests $60,000 for one-third interest in the PQR Partnership. During the period, P's…

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Q: Given the stated fair values, if Rowe were to sell one-half of her interest in capital to someone…

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Q: Partners Mcdo and Jobbe have capital balances ofP150,000 and P45,000 and share income in a ratio of…

A: Since, It is given in question that Total Capital will be P267,000.Therefore, Capital Balance of…

Q: The old partnership of A & B reported the following: Partners A B Capital 200,000 Profit or Loss…

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Q: A and B will contribute 150,000 each and C will contribute 50,000 plus his skill. They agreed to…

A: Correct amount of the total partnership capitalization = Amount contributed by A + Amount…

Q: Partners Mcdo and Jobbe have capital balances ofP150,000 and P45,000 and share income in a ratio of…

A: Total capital of firm before the admission of Greenwich = 150000 + 45000 = 195000 The Greenwich is…

Q: Presented below is the condensed balance sheet of the partnership of A, B, and C who share profits…

A: Solution: % of share of C given to D = 10% Amount of share in capital of C given to D = 170,000*10%…

Q: In the ABC partnership (to which D seeks admittance), the capital balances of A, B, and C, who share…

A: Existing partners = A, B and C ABC profit sharing ratio = 5:3:2 Admission of New partner = D…

Q: 55,200 P 155,200 P 173,200 P 86,400 P 86,400 P 98,400 P 48,000 P 41,600 P 41,600 P 47,600 P 32,000 P…

A: Here asked for multi question we will solve for first question accordance with the guidelines if you…

Q: if X and Y agree to establish a new partnership with a capital of 50,000 divided equally, X partner…

A: A partnership is a formal arrangement by two or more parties to manage and operate a business and…

Q: Capital balances in the WXY partnership are W, Capital P 60,000, X Capital P 50,000 and Y Capital…

A: Solution A partnership is an agreement in which two or more partners agreed to carry on business and…

Q: Capital balances in the WXY partnership are W. Capital P 60,000; X Capital P 50,000 and Y. Capital…

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

Q: The AB Partnership has the following plan for the distribution of partnership net income (loss) as…

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Q: D1, D2, and D3 are partners whose capital balances are P250,000, 150,000, and P125,000 respectively…

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Q: The Threesome Partnership shows the following profit and loss ratios and capital balances: Jerry…

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Q: A partnership has the following capital balances: Jeng: Capital P60,000 Pong: Capital   P30,000 PJ…

A: The principal balance of a new mortgage at any given time, multiplied by the applicable interest…

Q: A partner invests into a partnership a building with a P25,000 carrying value and P40,000 fair…

A: Investment in partnership means to invest the cash or any other asset in the partnership firm. It is…

Q: Capital balances in the WXY partnership are W, Capital P 60,000; X Capital P 50,000 and Y Capital…

A: Capital Balance of W P60,000 Capital Balance of X P50,000 Capital Balance of Y P40,000 Amount…

Q: P, L, and O are partners with capital balances of $50,000, $30,000 and $20,000 and who share in the…

A: According to the Partnership Act 1932, a new partner may only be accepted into the business if all…

Q: , B and C partnership shows the following profit and loss ratios and capital balances: A 60%…

A: Solution: Total capital after D admission = 90000/20% = 4500000 Existing capital = 300000 + 120000 +…

Q: artnership

A: Correct answer :- D 15000

Q: For a partnership, assume for a certain time period, the Income Statement has Sales of $100,000,…

A: Net income: It implies to the earnings that is left with a business after subtracting or deducting…

Q: X is indebted to the partnership for P10,000.00 and to the managing partner, Y, for P20,000.00. Y…

A: The answer for the multiple choice question and relevant explanation are presented hereunder : X is…

Q: 5. Charlie and Brown form a partnership and invest the following assets and liabilities Fair Market…

A: The non cash assets invested by partners are recorded at fair market value, and liabilities related…

Q: P invests $60,000 for one-third interest in the PQR Partnership. During the period, P's…

A: Given: P capital = $60,000 Partnership income = $120,000 P with drawl = $75,000

Q: The following facts were available about the XY Partnership on January 1st 2021 Existing Partners X…

A: Partnership is a form of business in which two or more people decide to operate a business and agree…

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: resented below is the condensed balance sheet of the partnership of A, B, and C who share profits…

A: Solution: Share of B transferred to D = 10% Capital reduction of B on transfer  =120,000 * 10% =…

Q: apital balances: ABC, Capital DEF, Capital GHI, Capital P 110,000 80,000 110,000 According to the…

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Q: In a partnership ABC, engaged in the flowershop business, the liabilities of the partners are as…

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Q: In a partnership firm there are two partners – X and Y. They share profit in the ratio of 55% and…

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Q: 15. L is a partner with an outside basis = $30,000. The basis is made up of a $10,000 contribution…

A: To determine the amount of partnership loss that L can deduct in the current year, we need to…

Q: nce sheet is presented for the partherst a the ratio of 60:40, respectively

A: Correct Answer is :- D 195,000

Q: A, B and C partnership shows the following profit and loss ratios and capital balances: A 60%…

A: At the time of admission, if the partner directly paid the amount to the partner then the capital…

Q: How much is

A:

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: T2 would like to purchase a partnership interest from T1. At the time of the purchase, T1's outside…

A: T2’s initial outside basis in the partnership interest: cash paid for acquisition + liabilities of…

Q: A partnership has the following capital balances: Jeng, Capital P60,000 Pong, Capital   P30,000 PJ,…

A: A partnership may or may not include a partnership deed. If there is a partnership deed all…