Business
Business, 13.11.2019 22:31, king6757

Sharp and townson had capital balances of $60,000 and $120,000, respectively, on january 1 of the current year. on may 8, sharp invested an additional $10,000 in the partnership. during the year, sharp and townson withdrew $25,000 and $45,000, respectively. the revenue account at the end of the year had a balance of $600,000, and the expense account had a balance of $510,000. sharp and townson have agreed to split net income on a 2: 1 basis.
a. prepare the statement of partnership equity for the current year. if an amount box does not require an entry, leave it blank.

answer
Answers: 2

Other questions on the subject: Business

image
Business, 22.06.2019 11:30, jacky852
On average, someone with a bachelor's degree is estimated to earn times more than someone with a high school diploma. a)1.2 b)1.4 c)1.6 d)1.8
Answers: 1
image
Business, 22.06.2019 19:10, jonmorton159
The stock of grommet corporation, a u. s. company, is publicly traded, with no single shareholder owning more than 5 percent of its outstanding stock. grommet owns 95 percent of the outstanding stock of staple inc., also a u. s. company. staple owns 100 percent of the outstanding stock of clip corporation, a canadian company. grommet and clip each own 50 percent of the outstanding stock of fastener inc., a u. s. company. grommet and staple each own 50 percent of the outstanding stock of binder corporation, a u. s. company. which of these corporations form an affiliated group eligible to file a consolidated tax return?
Answers: 3
image
Business, 22.06.2019 19:40, silasjob09
The martinez legal firm (mlf) recently acquired a smaller competitor, miller and associates, which specializes in issues not previously covered by mlf, such as land use and intellectual property cases. given the increase in the firm's size and complexity, it is likely that its internal transaction costs willa. decrease. b. increase. c. become external transaction costs. d. be eliminated.
Answers: 3
image
Business, 22.06.2019 20:20, dd123984
Levine inc., which produces a single product, has prepared the following standard cost sheet for one unit of the product. direct materials (9 pounds at $1.80 per pound) $16.20 direct labor (6 hours at $14.00 per hour) $84.00 during the month of april, the company manufactures 270 units and incurs the following actual costs. direct materials purchased and used (2,500 pounds) $5,000 direct labor (1,660 hours) $22,908 compute the total, price, and quantity variances for materials and labor.
Answers: 2
Do you know the correct answer?
Sharp and townson had capital balances of $60,000 and $120,000, respectively, on january 1 of the cu...

Questions in other subjects:

Konu
Mathematics, 01.06.2021 20:00
Konu
Mathematics, 01.06.2021 20:00
Konu
Health, 01.06.2021 20:00