ABC partners, whose total capital balance was P400,000, decided to admit D who invested P100,000 for a

Fantastic news! We've Found the answer you've been seeking!

Question:

ABC partners, whose total capital balance was P400,000, decided to admit D who invested P100,000 for a 25% interest in a partnership. The effect of this transaction in the partnership is a/n

1. increase in total partnership assets only

2. increase in total partnership assets and equity

3. no change in total partnership assets and equity

4. increase in total partnership equity only

Related Book For answer-question

Horngrens Accounting

ISBN: 978-0133866889

11th edition

Authors: Tracie L. Miller-Nobles, Brenda L. Mattison, Ella Mae Matsumura

See More Books

Posted Date: Mar 02, 2022 05:20 AM

See More Questions

ABC partners, whose total capital balance was P400,000, decided to admit D who invested P120,000 cash for a 20% interest in a partnership. The partners agreed to revalue the assets. Find the correct...
ABC partners, whose total capital balance was P400,000, decided to admit D who invested P80,000 cash for a 15% interest in a partnership. total agreed capital will be equal to the capital...
ABC partners, whose total capital balance was P400,000, decided to admit D who invested P100,000 for a 25% interest in a partnership. This will result to a no bonus nor revaluation Bonus to A, B, and...
Explain how the demand for health insurance is related to the demand for health care. Would the demand for health care then depend also on whether the person paid for the insurance or alternatively...
How did people first learn about a new product? A random sample of 200 shoppers at a particular store was asked their age and whether they heard about the product from a friend or through a local...
A pet food company has the business objective of having the weight of a can of cat food come as close to the specified weight as possible. Realizing that the size of the pieces of meat contained in a...
Imagine you are working for a company that sells teleconferencing equipment. Draft a value proposition for selling your equipment to a sales manager who has ten salespeople traveling two weeks a...
At Wolf Company, employees are entitled to one days vacation for each month worked. In January, 80 employees worked the full month. Record the vacation pay liability for January assuming the average...
Question 1. As part of the marketing strategy, identify suitable market segments, selecting targets and branding that are critical to the success of any marketing plan. How do company and marketing...
The COVID-19 pandemic affected companies in the food industry in unique ways, particularly during 2020. Ruth's Hospitality Group (Ticker: RUTH) develops and operates fine dining restaurants under the...
Write an essay from the reading of Rayela from Julio Cortazar. Write an analysis of the relationship that exists between the life theory and the literary theory that is discussed in Rayuela.
Perform an analysis on Starbucks: Business-level strategies Evaluate Starbucks product line, target market. Identify and explain business-level strategies. Functional-level strategies Assess the...
University Vision A premier national university that develops leaders in the global knowledge economy. University Mission A university committed to producing leaders by providing a 21st century...
Linda A. Hill, Harvard Business School professor, discusses several paradoxes that exist having to do with innovation including fostering the need to experiment and discover while still meeting...
What are some environmental concerns created by supply chain logistics? Identify a company that is combating these issues. Name to company and describe its sustainability initiatives? How does this...
The new music solo artist , Grandma. A link to the videos: https://youtu.be/gBjmsupedLs 1. How could, or how does, Grandma use each step of the AIDA model? Be specific, discussing each step of the...
You are required to complete a Major Assignment for this Module, that consists of two parts. The Major Assignment consists of applying some of the key concepts you learned to date in several Modules...
Which internal control principle is especially diffi cult for small organizations to implement? Why?
The records of Meehan Company show the following at December 31, 2016: Requirements 1. Compute the missing amount for Meehan Company. You will need to work through owner's equity. 2. Did Meehan earn...
What is a lump-sum purchase, and how is it accounted for?
Prepare the statement of owner's equity for Drought Design Studio for the year ending December 31, 2016.
What is float?
What are three metrics commonly used to track operations? Describe them.
What is a dashboard?

ABC partners, whose total capital balance was P400,000, decided to admit D who invested P100,000 for a

Question:

Expert Answer:

ANSWER IS 4 increase in total partnership equity only EXPLANATION Partner... View the full answer

Horngrens Accounting

Students also viewed these accounting questions