Question: please prepare the answer in tabular form as requested in the question (Items 1,2 , and 3 are independent.) 1. Suppose Roll pays Drop $35,000



(Items 1,2 , and 3 are independent.) 1. Suppose Roll pays Drop $35,000 to buy out Drop. Stop approves Roll as a partner. a. Record the transfer of equity on the partnership books on January 1,2016 b. Prepare the partnership balance sheet immediately after Roll is admitted as a partner 2. Suppose Roll becomes a partner by contributing $43,000 cash on January 1,2016 , to acquire a one-fourth interest in the business. a. Compute Roll's capital balance, and determine whether there's any bonus If so, who gets the bonus? b. Journalize Roll's contribution in the business c. Prepare the partnership balance sheet immediately after Roll is admitted as a partner. Include the heading 3. Assume the Stop \& Drop partnership liquidates by selling its non-cash assets for $112,000. Prepare the entries to liquidate the partnership on January 1,2016 The partnership of Stop \& Drop admits Roll as a partner on January 1, 2016 The partnership has these balances on December 31,2015 (Click on the icon to view the balance sheet.) Stop's share of profits and losses is 60% and Drop recerves 40% Read the b. Prepare the partnership balance sheet immediately after Roll is admitted as a partner. (Select the appropriate title for the first line of the header. Within the body of the statement, if a box is not used in the table leave the box empty, do not select a label or enter a zero.) Requirement 1. Suppose Roll pays Drop $35,000 to buy out Drop. Stop approves Roll as a partner a. Record the transfer of equity on the partnership books on January 1, 2016. (Record debits first, then credits Select the explanation on the last line of the journal entry table.)
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