Mr. A Mr. B and Mr. Care partners. Sharing Profit Equally On Mr. Cs retirement, his...
Fantastic news! We've Found the answer you've been seeking!
Question:
Transcribed Image Text:
Mr. A Mr. B and Mr. Care partners. Sharing Profit Equally On Mr. Cs retirement, his share is acquired by Mr. A and Mr. B in the ratio of 12. The New Profit Sharing Ratio between Mr. A and Mr. B will be: Mr. A Mr. B and Mr. Care partners. Sharing Profit Equally On Mr. Cs retirement, his share is acquired by Mr. A and Mr. B in the ratio of 12. The New Profit Sharing Ratio between Mr. A and Mr. B will be:
Expert Answer:
Answer rating: 100% (QA)
Answer to Question Particulars A B C Old Ratio 13 13 13 Cs share acquired in rat... View the full answer
Related Book For
Advanced Accounting
ISBN: 978-0538480284
11th edition
Authors: Paul M. Fischer, William J. Tayler, Rita H. Cheng
Posted Date:
Students also viewed these accounting questions
-
Partners Chito and Ditas share profits in the ratio of 6:4, respectively. On December 31, 2012, their capital balances were: Chito, P120,000 and Ditas, P100,000. On that date, Meng was admitted as...
-
Why are creditors interested in the ratio of stockholders equity to liabilities? Is it preferable to have a high ratio or a low ratio?
-
Why does an increase in the ratio of current assets to total assets decrease both profits and risk as measured by net working capital? How do changes in the ratio of current liabilities to total...
-
9. What is the coordination entity formed when excess of aqueous KCN is added to an aqueous solution of copper sulphate? Why is it that no precipitate of copper sulphide is obtained when H2S(g) is...
-
Tops Holding Corporation, the parent of Tops Markets, is a leading supermarket retailer in New York and Pennsylvania. Access the companys 10-K for the fiscal year ended January 1, 2011. You can find...
-
Why should bottom ash and fly ash be disposed of in a hazardous waste landfill?
-
Figure 10-22 depicts the activities performed in the revenue cycle by the Newton Hardware Company. Required 1 Identify the weaknesses in Newton Hardwares revenue cycle. Explain the resulting threat...
-
Augusta Industries manufactures and sells two products, golf balls and tennis balls. Fixed costs are $100,000, and unit sales are 60,000 sheaths of golf balls and 40,000 cans of tennis balls. The...
-
You are considering an investment that has a nominal annual interest rate of 10.98 percent, compounded semiannually. Therefore, the effective annual rate, or EAR (annual percentage yield) is_____....
-
Examine the Apartment worksheet, and apply appropriate names to cells D17:D20. 2. Set up the structure of a one-variable data table on the Analysis worksheet that shows the apartment rental price,...
-
What do you think about Judge's ability to issue a "Judgement notwithstanding a verdict"? Is this a wise check on juries or does it raise the potential for abuses of power? Why or why not?
-
Wilmington Company has two manufacturing departments--Assembly and Fabrication. It considers all of its manufacturing overhead costs to be fixed costs. The first set of data that is shown below is...
-
Discuss the following apparent contradiction: If at the start of an MS/OR project all costs and potential benefits were known accurately, the project would not get off the ground. However, if the...
-
Describe a business transaction and how you identify it . What are the different types of accounts a company uses? Discuss one type of account with examples.
-
Andrew worked in Sweden for 3 years and returned to the US on December 3 1 , 2 0 1 8 . On February 1 , 2 0 1 9 he received a $ 1 0 0 K bonus from the foreign employer for work performed in 2 0 1 8 ....
-
What design patterns and architectural principles do you employ when building microservices-based applications to ensure loose coupling, scalability, and fault isolation in a heterogeneous...
-
SN Noe IVSI SN 10M h 30M SN LION 215M
-
Explain the circumstances that could result in a long-term bank loan being shown in a statement of financial position as a current liability.
-
Pannier Company is the parent company that owns an 80% interest in Jodestar Company. The interest was acquired at book value, and the simple equity method is used to record the ownership interest....
-
You are maintaining a subsidiary ledger account for Police-Training Expenditures for 2013. The following columns are used: Inventory purchases are initially recorded as expenditures. Record the...
-
Subsidiary Company S has $1,000,000 of bonds outstanding. The bonds have 10 years to maturity and pay interest at 8% annually. The parent has an average annual borrowing cost of 6% and wishes to...
-
_________ are attempting to go beyond the basic assumptions of the traditional economic model and augment it with findings from psychology to gain a greater understanding of complex consumer behavior.
-
As an individual approaches consumer equilibrium, the ratio of marginal utility per dollar spent on different goods gets _________ apart across goods.
-
If the last dollar spent on good A provides more marginal utility per dollar than the last dollar spent on good B, total satisfaction would increase if _________ was spent on good A and _________ was...
Study smarter with the SolutionInn App