Answer:
JOURNAL
1. Cash a/c... Dr. 350000
To C's Capital a/c 200000
To Premium for Goodwill a/c 150000
(Being capital and premium for goodwill brought in by C)
2. Premium for Goodwill a/c... Dr. 150000
To A's Capital a/c 110000
To B's Capital a/c 40000
(Being premium for goodwill distributed among the partners in the ratio of 11:4)
3. A's Capital a/c.... Dr. 55000
B's Capital a/c.... Dr. 20000
To Cash a/c 75000
(Being half of the premium for goodwill withdrawn by the partners)
Calculation of sacrificing ratio:
A's sacrifice= 3/5- 2/7= 11/35
B's sacrifice= 2/5- 2/7= 4/35
Sacrificing ratio= 11:4
It depends on how you reacted. Did you throw something and yell it? Then yes. Did you just say it standing there? Then no.
Answer:
$1,747
Explanation:
Given:
Generate Cash flows = $20,000 per year
Salvage value = $10,000
Interest = 10% = 0.10
Computation:
Net present value = PV of cash inflows - PV of cash outflow
= [($20,000 X 6.1446) + ($10,000 X 0.3855)] - $125,000
= [$122,892 + 3855] - $125,000
= $1,747
PV factor (for salvage value)
Inflow PV factor = 6.1446
Based on the description above, it is likely to be true and
correct it is because a common law does govern all contract and that there is
only an exemption if the law has been replaced or has been modified by someone
who is in authority to do so.