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: 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…

A: Partnership: This is the form of business entity which is formed by an agreement, owned and managed…

Q: A 60% P300,000 B 30% P120,000 10% P50,000 The partners decided to sell D 20% of their respective…

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

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

A: You have asked multiple questions under a single question but we can provide under a single solution…

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

A: Profit and loss sharing in case of partnership shall be done in accordance with sharing ratio…

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

A: Bringing in new partners or partners into a partnership firm in exchange for a share of the profits…

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

A: Profit Sharing Ratio : Particulars Ratio  Jerry 60%  Jerome 30% Jessie 10%

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: TM and SJ, having capital balances of P980,000 and P525,000 respectively, decided to admit GD into…

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

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

A: Capital balance of A after admission of the new partner = Existing capital - 10% of existing capital…

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: 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: The GHK partnership has the following balance sheet: Cash                            $ 30,000…

A: Allocation of recourse liability will be on the loss allocation ratio. G's share of recourse…

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

A: Partnership- Partnership refers to a form of organization that is incorporated under a common assent…

Q: Alpha and Beta are partners who share income in the ratio of 12 and have capital balances of $40,000…

A: Alpha and Beta (1:2) None cash asset           $110,000 Sales amount.                $ 50,000

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: The balance sheet of the partnership of Aethan, Ping, and Moi, who share in the Profits and losses…

A: A partnership is an agreement term which allows two or more persons to form a partnership firm to…

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…

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

A: Solution: Existing capital of partnership before admission of Z = P60,000 + P50,000 + P40,000 =…

Q: The ABC Partnership shows the following profit and loss ratios and capital balances of its partners:…

A: Solution: When new partner is admitted in partnership, the partnership is reconstituted. There are…