Answered step by step
Verified Expert Solution
Link Copied!

Question

1 Approved Answer

201911918 Answer the following questions points SQ1 Assume that A Company and B Company each invested S(your student Number) for a 50% interest in an

image text in transcribed
201911918
Answer the following questions points SQ1 Assume that A Company and B Company each invested S(your student Number) for a 50% interest in an unincorporated joint venture on January 2, 2020. AB achieved net profit 15% of your student number and paid cash dividends 4% of your student number Required: Record the journal entries in the books of the ventures A and B and compute the ending balance of investment in AB JV" by using: Equity method of accounting. points 502 The following balances pertain to Ali and Kamal Limited Liability partnership: Beginning capital balance of Ali = your student number Beginning capital balance of Kamal = [4] * [your student number] Suppose that the contract of the partnership shows the following facts 1- There is a 10% interest on the beginning capital of partners 2. The is a monthly salary of Ali S2000 3. There is a 20% bonus of Kamal of income after the bonus. 4- The remainder is divided based on the balances of beginning capital Required: 1- Record the journal and closing entries? 2. What are the balances of ending capital? points 503 Summarize the accounting treatment of the investment in the voting common stocks (theoretical discussion)

Step by Step Solution

There are 3 Steps involved in it

Step: 1

blur-text-image

Get Instant Access to Expert-Tailored Solutions

See step-by-step solutions with expert insights and AI powered tools for academic success

Step: 2

blur-text-image

Step: 3

blur-text-image

Ace Your Homework with AI

Get the answers you need in no time with our AI-driven, step-by-step assistance

Get Started

Recommended Textbook for

Accounting And Causal Effects Econometric Challenges

Authors: Douglas A Schroeder

1st Edition

1441972242, 9781441972248

More Books

Students also viewed these Accounting questions

Question

What are the diff erences between groups and teams?

Answered: 1 week ago

Question

If you were Dans friend, what might you say to alter his behaviors?

Answered: 1 week ago