Ahmed's Capital will be

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The Distance Plus partnership has the following capital balances at the beginning of the current year: Tiger, (40% of profits and losses) $125,000 Phil (20% ) 95,000 Ernie (40%) 110,000 Each of the following questions should be viewed independently. a. If Sergio invests $150,000 in cash in the business for a 30 percent interest, what journal entry is recorded? Assume that the bonus method isused. b. If Sergio invests $140,000 in cash in the business for a 30 percent interest, what journal entry is recorded? Assume that the bonus method isused. c. If Sergio invests $150,000 in cash in the business for a 30 percent interest, what journal entry is recorded? Assume that the goodwill method isused.

Xavier and Yolanda have original investment of $50,000 and $100,000 respectively in a partnership. The articles of partnership include the following provisions regarding income; interest on original investment at 10%, salary allowances of $27,000 at $18,000 I have the remaining income how much of the net loss of $6000 alligator to Yolanda?

Samuel and Darci are partners. The partnership capital for Samuel is $58,900 and that of Darci is $72,100. Josh is admitted as a new partner by investing $54,800 cash. Josh is given a 25% interest in return for his investment. The amount of the bonus to the old partners is a. $54,800 b. $8,350 Oc. $61,933 Od. $0

Jose and Andres are partners with capital balances of P30,000 and P40,000 and sharing profits and losses 40% and 60% respectively. If Apol is admitted as paying P20,000 in exchange for 50% of Jose’s equity.

Cc. 187.

a) Tim and Michelle have decided to form a partnership with a 60/40 partnership interest ratio. Tim contributes $7500 cash and merchandise inventory with a market value of $1500. While journalizing this transaction ______. A) Tim, Capital will be debited for $9000 B) Tim, Capital will be credited for $9000 C) Tim, Capital will be credited for $6000 and Michelle, Capital will be credited for $4500 D) Tim, Capital will be debited for $6000 and Michelle, Capital will be debited for $4500   b) Which of the following is TRUE of a partnership balance sheet? A) Each partner's assets will be shown separately. B) Each partner's liabilities will be shown separately. C) Each partner's equity will be shown separately. D) Each partner's assets, liabilities, and equity will be shown separately.   c)The sum (or total) of the net income (loss) allocated to each partner should always equal the total net income (loss) of the partnership. -Bill and Bob share profits of their partnership in the ratio of…

Samuel and Darci are partners. The partnership capital for Samuel is $50,100 and that of Darci is $89,800. Josh is admitted as a new partner by investing $52,400 cash. Josh is given a 22% interest in return for his investment. The amount of the bonus to the old partners is a. $52,400 b. $64,100 c. $10,094 d. $0

Mr. X, Mr. Y and Mr. Z are partners in a partnership firm XYZ sharing havingcapitals of Rs. 400,000, Rs. 600,000 and Rs. 80,000 respectively. Theirpartnership agreement is as follows.i. Interest is allowed @ 9% on their capitalsii. Salary to X Rs. 60,000 and Y Rs. 30,000iii. Commission to Y Rs. 50,000 and Z Rs. 20,000iv. Bonus to X Rs. 24,000 and Z Rs. 36,000v. The reaming profit or loss is to be distributed in the ratio of their capitalNet loss of the firm is Rs. 200,000Required: Prepare income distribution summary and general journal entries