Answered step by step

Verified Expert Solution

Link Copied!

Question

1 Approved Answer

Posted on Jun 22, 2024

What is the capital balance of Beng after the admission of Dong? Ang, Beng and China are partners sharing prots in the ratio of 3:3:2.

What is the capital balance of Beng after the admission of Dong?
Ang, Beng and China are partners sharing prots in the ratio of 3:3:2. On June 30, 2020 their capital balances are as follows: Ang, P 600,000; Beng, P400,000; and Ching, P300,000. The partners agree to admit Dong on the following agreement: a. Dong is to pay Ang P400300 for K interest of Ang's interest. b. Dong is also to invest P300,000 in the partnership. c. The total capital of the partnership is to be P2,000,000, of which Dong's interest is to be 25%

Step by Step Solution

There are 3 Steps involved in it

Step: 1

Get Instant Access to Expert-Tailored Solutions

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

Step: 2

Step: 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

Financial Accounting An Integrated Statements Approach

Authors: Jonathan E. Duchac, James M. Reeve, Carl S. Warren

2nd Edition

324312113, 978-0324312119

Students also viewed these Accounting questions

Question

★★★★★

Use the following information for The Windshield Pro, a retail merchandiser of auto windshields, to compute the cost of goods sold: Web Site Maintenance.......$ 7,000 Delivery Expense......... 800...

Answered: 1 week ago

Question

★★★★★

Fill in the blanks to make the following statements correct. a. The term natural monopoly refers to an industry in which only a single firm can operate at its b. A regulated natural monopoly that is...

Answered: 1 week ago

Question

★★★★★

60. Two players alternate flipping a coin that comes up heads with probability p. The first one to obtain a head is declared the winner.We are interested in the probability that the first player to...

Answered: 1 week ago

Question

★★★★★

A thirty-year U.S. Treasury bond has a 4.0 percent interest rate. In contrast, a ten-year Treasury bond has an interest rate of 3.7 percent. If inflation is expected to average 1.5 percentage points...

Answered: 1 week ago

Question

★★★★★

With the following variables declared and initialized... double dVar1 = 25.0, dVar2 = 2.5; int iVar1 = 15, iVar2 = 30; String s1 = "hi", s2 = "there"; ...show what is printed for at least 5 of the 6...

Answered: 1 week ago

Question

★★★★★

Research and Writing: Brief Assignment 100 points PLEASE DRAFT YOUR ANSWERS IN A WORD PROCESSING PROGRAM AND SAVE IT TO YOUR COMPUTER. Submit your Answers in an Attachment. Assignment: Research and...

Answered: 1 week ago

Question

★★★★★

Prepare the statement of cash flows for the current month. Note: Cash outflows should be indicated with a minus sign. Required information [The following information applies to the questions...

Answered: 1 week ago

Question

★★★★★

find all matrices A (a) A = 13 (b) A + A = 213

Answered: 1 week ago

Question

★★★★★

Burdeno Appliances has two divisions, Sales and Financing. Sales is responsible for selling Burdeno's Inventory and maintaining Inventory for future sale. Financing Division takes loan applications,...

Answered: 1 week ago

Question

★★★★★

Golden Food Products produces special-formula pet food. The company carries no inventories. The master budget calls for the company to manufacture and sell 120,000 cases at a budgeted price of $60...

Answered: 1 week ago

Question

★★★★★

Please answer as per question otherwise it would be reported. Identify the elements that the Crown must prove for each of the offences that the accused was charged with on January 12, Y0. On January...

Answered: 1 week ago

Question

★★★★★

content area top Part 1 An exercise machine with an original price of $ 690 is on sale at 10 % off. a. What is the discount amount? b. What is the exercise machine's sale price? Question content area...

Answered: 1 week ago

Previous Question Next Question