Guaranteed payments to partners go on what two lines of the Form 1065? What type of interest goes on line 5 of Schedule K? What types of dividends go on line 6a of Schedule K? What type goes on line 6b? Does line 6a include those on line 6b?

Q: 6. In partnership liquidation the first cash distribution should be made for A) partner capital B)…

A: Answer:-  Partnership liquidation meaning:- Liquidation of partnership takes place when partners…

Q: Given the stated fair values, if Rowe were to sell one-half of her interest in capital to someone…

A: You have asked multiple questions under a single question but we can provide under a single solution…

Q: A partnership borrowed P20,000.00 from "A” at clearly usurious interest. Can the creditor recover…

A: A partnership is a form of business organization in which two or more people work together for the…

Q: . For the risk-return principle implies that the riskier a given course of action, the higher the…

A: The question is related to true or false. The expected returns are subject to risk.  Since you have…

Q: A person may become a partner in a partnership by all of the following methods EXCEPT   Options:…

A: A person may become a partner in a partnership by all of the following methods as under: • Investing…

Q: The share of loss of partners will appear: a.On the credit side of the partners+IBk- capital account…

A: The partnership comes into existence when two or more persons agree to do the business and further…

Q: 1. Upon the partnership's formation, the respective capital of partners John and Jones would be? 2.…

A: “Since you have posted a question with multiple sub-parts, we will solve first three sub-parts for…

Q: In the ABC partnership (to which D seeks admittance), the capital balances of A, B, and C, who share…

A: Existing partners = A, B and C ABC profit sharing ratio = 5:3:2 Admission of New partner = D…

Q: After all partnership assets have been converted to cash and all liabilities paid, the remaining…

A: Given is: After all partnership assets have been converted to cash and all liabilities paid, the…

Q: profit or loss

A: .To compensate the partners for the difference in capital contributions, they may include which of…

Q: On Dissolution of a partnership firm, the claims of the partners on their capital will be listed for…

A: Answer

Q: 4. How shall the profits and losses of the partnership be distributed among the partners? a. It…

A: "Since you have asked multiple questions, we will solve first question for you. If you want any…

Q: Which of the following statements about paid-in capital is correct?    a) Shows the capital amounts…

A: Paid-in capital refers to the total amount of capital contributed by the owners of the entity in the…

Q: Liquidating Partnerships—Capital Deficiency Lewis, Zapata, and Fowler share equally in net income…

A: Capital deficiency refers to the situation when the debit balance of an insolvent partner's capital…

Q: Interest on capital

A: Which one of the following is a gain to the partners ? Correct Answer :- D Interest on Capital

Q: What is Phillip’s recognized gain or loss on the distribution? 2. What is the partnership’s…

A: Partnership refers to a legal act of agreement between two or more partners who have mutually agreed…

Q: he partnership’s net assets. Cash settlement is to be made between the partners. How much is the…

A: Admission of Partner For the admission of partner the admitted partner can bring the capital in form…

Q: The share of profit of partners will appear: a. On the credit side of the partners+IBk- capital…

A: Solution:  The share of profit of partners will appear "On the debit side of the profit and loss…

Q: The following are the capital balances and share in each profit of Ring Partnership:   Aragorn…

A: Total capital before admission of Gandalf= Aragorn + Legolas +Gimli  = 300+200+200 = 700

Q: Which of the following distribution would be made last in dividing profits to the partners when…

A: Based on Partnership Agreement Distribution shall be made in partnership P& L Appropriation…

Q: Which one of the following alternatives represents the new profit-sharing ratio after the admission…

A: Share of profits sacrificed by Mrbe and Johannes has been calculated as follows:

Q: 9. In the AA-BB partnership, AA and BB had a capital ratio of 3:1 and a profit and loss ratio of…

A: The partnership comes into existence when two or more persons agree to do the business and further…

Q: Which one of the following is a gain to the partnership firm? a.Interest on drawings b.Interest on…

A: Solution: Interest on capital is expense or division of profit by partnership to partners. Interest…

Q: On September 1, 20xx, Darren and Darryl agreed to combine their businesses and form a partnership.…

A: For Darren :   For Darryl :

Q: In the ABC partnership (to which D seeks admittance), the capital balances of A, B, and C, who share…

A: A partnership business is the form of business, where two or more parties enter into an agreement to…

Q: In the ABC partnership (to which D seeks admittance), the capital balances of A, B, and C, who share…

A: Estimated amount to be invested by D for a 20% interest = Total capital of the partnership after…

Q: Which one of the following item will be debited in profit and loss appropriation account? a.…

A: Interest On Capital ,Partners salary,Partners commission,partners bonus are debited to partners…

Q: 8. How much is the new capital of Max after the closing of nominal accounts? 9. How much is the new…

A: Partnership means two or more persons joins hands to handle and manage business and to share profits…

Q: The share of profit of partners will appear: a. On the credit side of the partners+IBk- capital…

A: Profit and loss account shows the total profit on the debit side. Profit and loss appropriation…

Q: What is a predistribution plan? Choose the correct.a. A list of the procedures to be performed…

A: Partnership: This is the form of business entity which is formed by an agreement, owned and managed…

Q: - The share of loss of partners will appear: a. On the credit side of the partners+IBk- capital…

A: Solution: Loss means debit balance of profit and loss appropriation account, once loss is…

Q: After realization and payment of external debt, how much cash would the partnership have left for…

A:

Q: What is the rule of offset? a) Loans to partners should be offset against their debit capital…

A: Liquidation means where the company decide to close out the operations , sell all the assets and…

Q: A statement of changes in partners' equity should Include all of the following except a. Beginning…

A: This question deals with the statement of changes of equity of the partner. Statement of changes in…

Q: Which one of the following will be recorded in the statement of financial position of the…

A: The statement of financial position is a statement that records the assets, liabilities, and capital…

Q: Guaranteed payments to partners go on what two lines of the form 1065? what type of interest goes on…

A: The two payments which are the guaranteed payments to partners which go on two lines of the form…

Q: 16. A person may become a partner in a partnership by all of the following methods except A.…

A: Since you have asked multiple questions, we will solve the first question for you. If you want any…

Q: What is the rule of offset? a. Loans from partners should be offset against their debit capital…

A: Answer: Concept Rule of offset Rule of offset means when there is loan from partner in the…

Q: The amount of drawings taken by each partner will be: O a. Credited to profit and loss account O b.…

A: a

Q: Which one of the following is a gain to the partnership firm? a. Interest on drawings b.

A: Solution: "Interest on drawings" is a gain to the partnership firm.

Q: What is June's capital balance just after the formation? What is the amount of the total current…

A: Partnership is the business which is started by the partners and to start there must be a minimum of…

Q: 1. Cash settlements between and among partners to equalize their initial capital credits are a.…

A: Partnership is an agreement in which 2 or more individuals associate with each other to operate…

Q: Douglas pays Selena $44,100 for her 27% interest in a partnership with net assets of $127,300.…

A: Partnership: The form of business entity which is formed by an agreement, owned and managed mutually…

Q: Statement : Non-cash contributions of the partners should be recorded at agreed value in the absence…

A: Generally, associate interest coverage magnitude relation of a minimum of 2 (2) is taken into…