Differentiate between the admission of a new partner through assignment of an interest and through investment in
Question:
Fantastic news! We've Found the answer you've been seeking!
Step by Step Answer:
Answer rating: 77% (9 reviews)
An interest in a partnership can be acquired either 1 B...View the full answer
Answered By
PALASH JHANWAR
I am a Chartered Accountant with AIR 45 in CA - IPCC. I am a Merit Holder ( B.Com ). The following is my educational details.
PLEASE ACCESS MY RESUME FROM THE FOLLOWING LINK: https://drive.google.com/file/d/1hYR1uch-ff6MRC_cDB07K6VqY9kQ3SFL/view?usp=sharing
3.80+
3+ Reviews
10+ Question Solved
Related Book For
Question Posted:
Students also viewed these Accounting questions
-
A partner assigned his partnership interest to a third party. Which statement BESTdescribesthe legal ramifications to the assignee? A. The assignment of the partnership interest does not entitle the...
-
Differentiate between a profit center and an investment center.
-
Differentiate between a profit center and an investment center. Discuss.
-
Question 4: Partners M, N, and O agreed to share the net income or loss in the ratio of 5:4:3 respectively. Their capital balances were Rs.80, 000, Rs. 70, 000 and Rs. 60, 000. They decided that "O"...
-
McKenzie Wood Products negotiated a $200,000 revolving line of credit with the Bank of Montreal at prime plus 2%. On the twentieth of each month, interest is calculated (up to but not including the...
-
1. An LPN is talking with her clinical instructor about her decision to return to school to become an RN. The clinical instructor iNnterprets the LPNs outcome priority based on which statement? a.My...
-
A flat plate is of planar dimension \(1 \mathrm{~m} \times 0.75\mathrm{~m}\). For parallel laminar flow over the plate, calculate the ratio of the average heat transfer coefficients over the entire...
-
A firm believes the sales volume (S) of its product depends on its unit selling price (P) and can be determined from the equation P = $100 - S. The cost (C) of producing the product is $1000 + lOS....
-
1. Identify a specific business that uses Artificial Intelligence and Robotics. 2. Why did you select this organization for your research project? 3. Identify three major issues for the use of...
-
. Venture Inc. is sitting on $100 million in liquidity and considering investing in two different start-ups: Company A and Company B. After 3 years, Venture plans to sell their stake in both...
-
Explain why a partnership is viewed in accounting as a "separate economic entity."
-
Describe the circumstances where neither the goodwill nor the bonus method should be used to record the admission of a new partner.
-
Find a vector function that represents the curve of intersection of the two surfaces. The cylinder x 2 + y 2 = 4 and the surface z = xy
-
The start-up firm you founded is trying to save $10,000 in order to buy a parcel of land for a proposed small warehouse expansion. In order to do so, your finance manager is authorized to make...
-
First, locate the financial statement (10 - K Annual Reporting) information for each company (listed below) that you will be investigating for your final project. This information can be found on...
-
Check that if you add (or multiply) two fractions in Z(2) you get a fraction that is not an arbitrary rational number but one that also lives in Z(2). What role does the fact that the denominators...
-
The global financial crisis of 2007-2009 lowered barriers to entry in the financial industry by making the regulatory environments more accommodative to financial innovation, lowering interest rates,...
-
Find the differential of the function. z = x 3 ln(y 2 )
-
In Problems, solve each system of equations. x + 2y + 3z = 5 y + 11z = 21 5y + 9z = 13
-
What is the energy of (a) a 400 -nm photon and (b) a 700-nm photon?
-
Acme Corporation (a U.S. company located in Sarasota, Florida) has the following import/export transactions in 2011: March 1 Bought inventory costing 50,000 pesos on credit. May 1 Sold 60 percent of...
-
Bartlett Company, headquartered in Cincinnati, Ohio, has occasional transactions with companies in a foreign country whose currency is the lira. Prepare journal entries for the following transactions...
-
Benjamin, Inc., operates an export/import business. The company has considerable dealings with companies in the country of Camerrand. The denomination of all transactions with these companies is...
-
The Pew Internet and American Life Project reported on the widespread use of the Internet to search for information regarding experimental treatments or medicines. From telephone interviews of 1005...
-
write the differences between Microprocessors and Microcomputers. compare between them and draw the block diagram for each one. B) define the interface and mention it's types with brief description....
-
Write a program that prompts the user for the constitutive parameters (relative permittivity, relative permeability, and conductivity) in medium 1 and medium 2 separated by a planar surface. You are...
Study smarter with the SolutionInn App