FREE Trial
Answered step by step
Verified Expert Solution
Link Copied!

Question

1 Approved Answer

I NEED IT ASAP PLS PROFIT ALLOCATED TO THE PARTNERS 2. Prepare the closing entry that distributes the profit among the partners' capital accounts.(3meks) 3.

image text in transcribed

I NEED IT ASAP PLS

PROFIT ALLOCATED TO THE PARTNERS 2. Prepare the closing entry that distributes the profit among the partners' capital accounts.(3meks) 3. Assuming there was no formal partnership agreement made when the business began, how would the profits be allocated? (2 marks) PART B Corporations (30 marks)

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_2

Step: 3

blur-text-image_3

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

Expert Systems In Auditing

Expert Systems In Auditing

Authors: J C Van Dijk, Paul Williams, Michael P. Cangemi

1st Edition

1349124761, 978-1349124763

More Books

Students also viewed these Accounting questions

Question

★★★★★
Cranwell Company's inventory records for a particular development program show the following at May 31: May 1 Beginning inventoryl ........................... 6 units $150 = $ 900 15 Purchase...

Answered: 1 week ago

Question

★★★★★
When we throw simultaneously three identical dice, the number of distinguishable outcomes is (a) (9) (b) (9) (9) (9) (d) 63 (e) 62

Answered: 1 week ago

Question

★★★★★
What are the pros and cons of telephone sur- veys and face-to-face interviews?

Answered: 1 week ago

Question

★★★★★
Elaine Jackson just had a visit from her cousin Phil. He wanted to apologize. Last year he had regaled her with stories about a small company he had discovered that had just invented a high-tech...

Answered: 1 week ago

Question

★★★★★
I NEED IT ASAP PLS PROFIT ALLOCATED TO THE PARTNERS 2. Prepare the closing entry that distributes the profit among the partners' capital accounts.(3meks) 3. Assuming there was no formal partnership...

Answered: 1 week ago

Question

★★★★★
art management database fields and tables examples

Answered: 1 week ago

Question

★★★★★
Explain how the communication tone, structure and style may impact on others. Provide an example of each. Question Explain how the communication tone, structure and style may impact on others. (40-80...

Answered: 1 week ago

Question

★★★★★
1-2: The test data of a pressure sensor is shown in the following table, calculate the nonlinear error, hysteresis and repeatability error. Output value/mV Pressure First cycle Second cycle Third...

Answered: 1 week ago

Question

★★★★★
Breach of Human Rights? L.B Hospitality Hotel offers customers free toiletries, coffee and snack basket for each night clients stay at their hotel. These items are left in each room by the...

Answered: 1 week ago

Question

★★★★★
A water storage tank has a cylindrical shape. The diameter of the base of the tank is 0.568 m. The height of the tank is 0.855 m. This is shown in the following diagram. -0.568 m 0.855 m (a) Write...

Answered: 1 week ago

Question

★★★★★
A company is studying the effectiveness of their text message advertisements by counting the number of visits to their website that originate from a link in one of the texts. The function A(r) gives...

Answered: 1 week ago

Question

★★★★★
the Business Leaders Programme, which addresses the needs of the changing roles of newly appointed managers and professionals, and develops business understanding and leader skills in the changing...

Answered: 1 week ago

Question

★★★★★
The new Growth, Employment and Redistribution policy (GEAR) which was presented to parliament in June 1996 has continued to attract criticism from the trade union movement for its implications for...

Answered: 1 week ago

Question

★★★★★
The number of people completing their artisan training in 1992 was 5,588: less than half the 1985 figure.

Answered: 1 week ago

Previous Question Next Question