Question: which amount is the correct amount recorded for closing off the balancing amount inthe valuation account tothe capital accounts of ariana,granadilla and kattie according ot

which amount is the correct amount recorded for closing off the balancing amount inthe valuation account tothe capital accounts of ariana,granadilla and kattie according ot their profit sharing ratio

Step by Step Solution

There are 3 Steps involved in it

1 Expert Approved Answer
Step: 1 Unlock blur-text-image
Question Has Been Solved by an Expert!

Get step-by-step solutions from verified subject matter experts

Step: 2 Unlock
Step: 3 Unlock

Students Have Also Explored These Related Accounting Questions!

Q:

Regular Bicycle ( 1 ) Deluxe Bicyle ( 2 ) 2 Wheels ( 1 ) 1 Head Light ( 2 ) 1 Wheels ( 1 ) 2 Tail Lights ( 2 ) 2 Handle Bars ( 1 ) 2 Handle Bars ( 1 ) Component On Hand Scheduled Receipt Head Light 1...

Q:

whiwhich of the following alternative will be included on the trade payables line item in the statement of financial position of Maputla traders for the year ended 28 February 2021as interest on...

Q:

Abstract Accounting frameworks follow stipulations of existing Accounting Theories. This exploratory research sets out to trace the evolution of accounting theories of Charge and Discharge Syndrome...

Q:

Abstract Accounting frameworks follow stipulations of existing Accounting Theories. This exploratory research sets out to trace the evolution of accounting theories of Charge and Discharge Syndrome...

Q:

Use the following information to answer questions 11 to 17. Ariana, Granadilla and Katie were in a partnership and traded as AGK Traders. AGK shared in the profits or losses of AG Traders in the...

Q:

Ch 1 1. Given the following dat Dec 31 Year 2 Dec 31 Year 1 Total liabilities S128,250 $120,000 Total stockholders oquity 95.000 80.000 compute the ratio of liabilities to stockholders' equity for...

Q:

1. Chapter 12Accounting for Partnerships and Limited Liability Companies Question MC #63 (Points: 1.75) Benson and Orton are partners who share income in the ratio of 2:3 and have capital balances of...

Q:

Question 1 Which one of the following alternatives is correct? A. Since partnerships are not governed by a law requiring that IFRS be applied, it is not possible to introduce a standardised...

Q:

HI I need help to with my assessment. Anyone can help me? T-1.8.1 Details of Assessment Term and Year T2 2017 Time allowed Week 2, 3, 4, 5, 6, 7, 8 Assessment No 1 Assessment Weighting 60% Assessment...

Q:

HI I need help to with my assessment. Anyone can help me? T-1.8.1 Details of Assessment Term and Year T2 2017 Time allowed Week 2, 3, 4, 5, 6, 7, 8 Assessment No 1 Assessment Weighting 60% Assessment...

Q:

HI I need help to with my assessment. Anyone can help me? T-1.8.1 Details of Assessment Term and Year T2 2017 Time allowed Week 2, 3, 4, 5, 6, 7, 8 Assessment No 1 Assessment Weighting 60% Assessment...

Q:

Using two modulo-16 counters plus whatever other logic that is needed (including a gates and flip-flop), design a system with following counting sequence: 0 1 2 . 1523 45 .. 15 4 5 6 . 15 .. 12 13 14...

Q:

A small object of uniform density rolls up a curved surface with an initial velocity 'v'. It reaches upto a

Q:

find an equation for the line that intersects ( 0 , 2 ) and ( 2 , 0 )

Q:

Let's define the following quantity, f(x + h) f(x - h) Dr 2h

Q:

3. What is an Earthing and explain the different types of earthing schemes available in electrical system. Illustrate your answer with sketches

Q:

Solve the second order differential equation. y'' = (y')^2(tan(y))

Q:

A loan of $120,000 is repayable by means of a sinking fund for 10 years. The interest payment is made at the end of each year at an annual effective rate of interest 6%. The sinking fund yields an...

Q:

If there is deficiency in the alpha granules of a blood platelets, what is the most logical conciseness for it ? Purpura Thrombocytopenia Thrombocythemia

Q:

Question 9 ( 1 point ) Person analysis does not usually overcome problems of employee training motivation KSA gaps development

Q:

Explain some issues associated with administering disciplinary action in other countries.

Q:

Describe the problems in the administration of disciplinary action.

Q:

Explain discipline and disciplinary action.