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

Question

1 Approved Answer

JUST NEED OPTION no need explain NO need for explanation i will rate you Almutaz and Rashid are partners sharing profit and losses in the

JUST NEED OPTION

no need explain

NO need for explanation

i will rate you

image text in transcribed
image text in transcribed
Almutaz and Rashid are partners sharing profit and losses in the ratio of 5:3. Abdullah is admitted as a new partner for 1/5th share. Abdullah brings RO 15,000 as his Capital and goodwill 5,000 RO in cash. Goodwill already appears in the Balance Sheet of Almutaz and Rashid is RO 20,000. What is the share of Goodwill written off to Rashid which is already appears in the balance sheet? Th RO 20.000 b. RO 12.500 None of the options d RO 7500 estion 17 Which of the following is/are not to be shared in partnership? tyet wered rked out of 0 O a. Undistributed reserves b. None of the options Flag question c. Sale of fixed asset d. Charitable Activities revious page

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

Financial Accounting Tools For Business Decision Making WileyPLUS NextGen Card Single Semester

Financial Accounting Tools For Business Decision Making WileyPLUS NextGen Card Single Semester

Authors: Paul D. Kimmel ,Jerry J. Weygandt ,Donald E. Kieso

10th Edition

1119791022, 978-1119791027

More Books

Students also viewed these Accounting questions

Question

★★★★★
What is the reason for using a taper tap before a plug tap in tapping a hole?

Answered: 1 week ago

Question

★★★★★
2.27. An article in Solid State Technology, Orthogonal Design for Process Optimization and Its Application to Plasma Etching by G. Z. Yin and D. W. Jillie (May 1987) describes an experiment to...

Answered: 1 week ago

Question

★★★★★
Seattle Leisure Designs has designed a new athletic suit. The company plans to produce and sell 30,000 units of the new product in the coming year. Annual fixed costs are $600,000, and variable costs...

Answered: 1 week ago

Question

★★★★★
JUST NEED OPTION no need explain NO need for explanation i will rate you Almutaz and Rashid are partners sharing profit and losses in the ratio of 5:3. Abdullah is admitted as a new partner for 1/5th...

Answered: 1 week ago

Question

★★★★★
4 points Save Answer The following is the income statement for Manning Corp. Suppose that Manning is preparing its 2 0 2 0 income statement and has forecasted sales of $ 7 , 5 0 0 for 2 0 2 0 . What...

Answered: 1 week ago

Question

★★★★★
P. 6-1 The financial statements of an actual capital projects fund leave it to the report reader to draw inferences on key transactions. The accompanying statements of the parks, recreations, and...

Answered: 1 week ago

Question

★★★★★
An infinite solid circular cylinder is initially at a uniform temperature of 150 C. At time t = 0 the temperature around the entire boundary is suddenly reduced to 0C, and maintained thereafter....

Answered: 1 week ago

Question

★★★★★
6. Germs Co. revalued its building with historical cost of P40,000,000 and accumulated depreciation of P10,000,000 to a fair value of P48,000,000. Income tax rate is 30%. Requirements: a. Compute for...

Answered: 1 week ago

Question

★★★★★
In a report, 2-3 pages single-spaced, describe the purpose of the audit software and describe its capabilities.Provide at least two examples of how companies have used the software as it relates to...

Answered: 1 week ago

Question

★★★★★
15} A logging contractor has three feller bunchers. On any given day, each machine has a 90% chance of working. The contractor is considering buying a fourth feller buncher to offset the possibility...

Answered: 1 week ago

Question

★★★★★
What is the importance of training employees? What type of training have you received as an employee? Was it successful? Have you ever trained another employee? cussion Boards

Answered: 1 week ago

Question

★★★★★
3. Assess your goals for employment, and then design (or revise) a rsum for the job you are most interested in. Use the guidelines in this chapter to make it clear and action-oriented. Prepare...

Answered: 1 week ago

Question

★★★★★
4. Create a questionnaire that you will use the next time you visit a physician. Focus your questions on what is already known about your condition, and what you want to know about possible...

Answered: 1 week ago

Previous Question Next Question