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3 years ago

The first entry to liquidate a partnership would probably include

Business

2 answers:

Lorico [155]3 years ago

8 0

Property will not added when it liquidate

prisoha [69]3 years ago

7 0

The correct answer to your question is:

A debit to Cash, a debit or credit to Loss or Gain from Realization, and a credit to Individual Assets Sold.

You might be interested in

Production used 2.5 labor hours per finished unit, and the company actually paid $21 per hour, totaling $52.50 per unit of finis

jeka94

Answer:

Direct labor rate variance= (Standard Rate - Actual Rate)*Actual hours

Explanation:

Giving the following information:

The production used 2.5 labor hours per finished unit, and the company paid $21 per hour, totaling $52.50 per unit of finished product.

We weren't provided with enough information to solve the problem. We need estimated production hours and rates. But, I can leave the formula to solve it.

To calculate direct labor rate variance, we need to use the following formula:

Direct labor rate variance= (Standard Rate - Actual Rate)*Actual Hours

3 0

3 years ago

On January 1, 2018, Chamberlain Corporation pays $550,000 for an 80% ownership in Neville. Annual excess fair-value amortization

german

Answer:

The question is missing the options, which are contained in the attached question.

The consolidated net income attributable to the non-controlling interest i $30,000.00 with option D as the correct answer as found in the attached

Explanation:

Neville's net income for the year $175,000.00

less annual excess fair value amortization ($25,000.00)

Net income after excess fair amortization $150,000.00

Chamberlain's share of net income

80%*$150,000.00 ($120,000.00)

Non-controlling interest share of net income $30,000.00

Note that the non-controlling interest is a balancing figure.

Chamberlain consolidated income can be computed thus:

Chamberlain 100% net income $380,000.00

Plus share of Neville's net income $120,000.00

Consolidated net income $500000.00

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3 0

3 years ago

What does the new york stock exchange (nyse) do?

Sauron [17]

Hey there,
It is located on Wall street new lower Manhattan and it is the world's largest stock exchange by market capitalization of listed companies.

Hope this helps :))

~Top

8 0

3 years ago

Read 2 more answers

On February 1, 2021, Arrow Construction Company entered into a three-year construction contract to build a bridge for a price of

faltersainse [42]

Answer:

2021

revenue 2,666,667

we have cost for 2,000,000

income for 666,667

2022

revenue 3.278.400‬

cost 2,500,000

income 778.400‬

2023

revenue 2,054,933‬

cost 3,800,000

loss 1,745,067‬

Explanation:

2,000,000/ (2,000,000 + 4,000,000) = 1/3

in 2021 a third of the contract was complete therefore we recognize a third of revenue:

8,000,000 x 1/3 = 2,666,667

we have cost for 2,000,000

income for 666,667

2,500,000 / (2,500,000 + 3,600,000) = 0,4098

we recognize revenues for 40.98 of the total contract value.

8,000,000 x 40.98 = 3.278.400‬

cost 2,500,000

income 778.400‬

2023

we recognize the remaining revenue.

8,000,000 - 2,666,667 - 3,278,400 = 2.054.933‬ revenue

cost 3,800,000

loss 1,745,067‬

7 0

3 years ago

Amber Devices Ltd. has total assets worth $900 million and total liabilities worth $475 million at the end of December 31. What

natima [27]

Answer:

The current total assets of Amber devices are $900 million

IF they sell all their assets for 850 million they will have 850 million in cash. From this cash they have to pay their liabilities first, so

850 million -475 million = 375 million

The book value of the liabilities was 475 million and because Amber devices pays of all its outstanding debt at book value, the remaining cash left for the stock holders is 375 million

The stock holder receive $375 million after liquidation of assets and payment of debt.

Explanation:

6 0

3 years ago