Homework Answers
Answers:
130. d. The transaction is a personal transaction between the purchaser and the selling partner.
136. a. is sometimes justified because goodwill may exist and it is not reflected in the accounts.
137. b. the basis of income ratios before the admission of new partner.
153. a. Neither the salaries to partners nor the interest on partners' capital are expenses of the partnership .
48 . c. an act by a partner is judged as binding on other partners depending on whether the act appears to be appropriate for the partnership.
105. a, called as dividends in arrears.
106. d the right to vote
117. b. decrease in total assets and total shareholders' equity.
122. c. contra shareholders equity account
135. b.market value
55 . a. enhanced because of the limited liability and ease of share transferability.
125. c. declaration date
33 . d. Approval of stockholders
49 .c no entry is required
51 .a. current liability.
Add Answer to:
These are all multiple choice questions. I need your help, and
I need them for tonight....
Please I need them for tonight.. Multiple Choice Question 137 When admitting a new partner by investment, a bonus t...
Please I need them for tonight..
Multiple Choice Question 137 When admitting a new partner by investment, a bonus to old partners is allocated on the basis of the original investment of the old partners. the basis of income ratios before the admission of the new partner. a seniority basis. the basis of capital balances. Multiple Choice Question 153 Which of the following statements is correct? Neither salaries to partners nor interest on partners' capital are expenses of the partnership....
Multiple Choice Question 130 When a partnership interest is purchased all partners will receive some part...
Multiple Choice Question 130 When a partnership interest is purchased all partners will receive some part of the purchase price. the buyer receives equity equal to the amount of cash paid. every partner's capital account is affected. the transaction is a personal transaction between the purchaser and the selling partner(s).
Multiple Choice Question 136 When admitting a new partner by investment, a bonus to old partners is sometimes justi...
Multiple Choice Question 136 When admitting a new partner by investment, a bonus to old partners is sometimes justified because goodwill may exist and it is not reflected in the accounts. is usually unjustified because book values clearly reflect partnership net worth. results if the debit to cash is equal to the new partner's capital credit. results if the debit to cash is less than the new partner's capital credit. O
Matching Question 207 Match the following statements to the appropriate terms. Each partner is personally and...
Matching Question 207 Match the following statements to the appropriate terms. Each partner is personally and individually liable for partnership debts. Made on basis of partners' capital balances. Explains changes in individual partner's capital accounts during a period. Each partner can bind the partnership so long as the action appears to be appropriate for the partnership Business terminates. Results in an increase in total net assets and total capital of the partnership Capital account with a debit balance. The basis...
please answer all four multiple choice questions QUESTION 13 The Kaplan Group sold $200,000 of 10-year...
please answer all four multiple choice questions
QUESTION 13 The Kaplan Group sold $200,000 of 10-year bonds for $190,000. The face rate on the bonds was 8 % and interest is paid annually on December 31. What entry would be made on December 31 when the interest is paid? (Numbers are omitted.) Interest Expense 1. Bonds Payable Cash Interest Expense 2. Discount on Bonds Payable Cash Interest Expense Discount on Bonds Payable 3. Cash Interest Expense 4. Cash QUESTION 14...
Hi I need help completing 2A and 2B. I've attached both question and my work done so far. Use the following Balance She...
Hi I need help completing 2A and 2B. I've attached both question
and my work done so far.
Use the following Balance Sheet to answer Ince Sheet to answer questions 1-3: Black & Blue Balance Sheet December 31, 2017 Assets Liabilities Cash $ 10,000 Accounts Payable $ 20.000 119.000 Non-Cash Assets Partner's' Equity Black, Capital Blue, Capital Total Partners' Equity Total liabilities and Partners' Equity 65,000 55.000 120,000 Total Assets 120m Requirements (1, 2, and 3 are independent situations) 1....
please answer all four multiple choice questions QUESTION 17 Outstanding shares represent the 1. maximum number...
please answer all four multiple choice questions
QUESTION 17 Outstanding shares represent the 1. maximum number of shares that can be sold by the corporation. 2. number of shares that are currently held by stockholders. 3. number of previously issued shares that have been repurchased by the corporation. 4.number of shares that the corporation has sold. QUESTION 18 The Discount on Bonds Payable account is shown on the balance sheet as 1. an asset. 2. an expense. 3. a contra-liability...
Chenard, Jennings, and Blair share profits and losses is 2:3:5, respectively. The balance sheet is: CHENARD,...
Chenard,
Jennings, and Blair share profits and losses is 2:3:5,
respectively. The balance sheet is: CHENARD, JENNINGS, AND BLAIR
PARTNERSHIP Balance Sheet December 31, 2020 Assets Liabilities and
Owners' Equity Cash $45100 Liabilities $145000 Noncash assets
280000 Chenard, Capital 60000 Jennings, Capital 90300 Blair,
Capital 29800 Total $325100 Total $325100 If the partnership is
liquidated and the noncash assets are worthless, the creditors will
look to what partner's personal assets for settlement of the
creditors' claims?
Multiple Choice Question 105...
1. The limited liability company may elect to be manager-managed rather than member-managed, which means that...
1. The limited liability company may elect to be manager-managed rather than member-managed, which means that only authorized members may legally bind the corporation. a. True b. False 2. A corporation is a separate entity for accounting purposes but not for legal purposes. a. True b. False — 3. When compared to a corporation, one of the major disadvantages of the partnership is its limited life. a. True b. False _ 4. Each partner may withdraw the assets he or...
17. A deficient partner A s assumed to be always insolvent B who is solvent and...
17. A deficient partner A s assumed to be always insolvent B who is solvent and has a loan to the st a tes the right of C should inmediately withdraw from the partnership D may invest additional cash The partners did not agree is to how t h e guided then ch should be divided among partners A based on original capital to B arbitrary ratio C equally D. based on ending capital ratio 19. The total partners' equity...
Please I need them for tonight..
Multiple Choice Question 137 When admitting a new partner by investment, a bonus to old partners is allocated on the basis of the original investment of the old partners. the basis of income ratios before the admission of the new partner. a seniority basis. the basis of capital balances. Multiple Choice Question 153 Which of the following statements is correct? Neither salaries to partners nor interest on partners' capital are expenses of the partnership....
Multiple Choice Question 130 When a partnership interest is purchased all partners will receive some part of the purchase price. the buyer receives equity equal to the amount of cash paid. every partner's capital account is affected. the transaction is a personal transaction between the purchaser and the selling partner(s).
Multiple Choice Question 136 When admitting a new partner by investment, a bonus to old partners is sometimes justified because goodwill may exist and it is not reflected in the accounts. is usually unjustified because book values clearly reflect partnership net worth. results if the debit to cash is equal to the new partner's capital credit. results if the debit to cash is less than the new partner's capital credit. O
Matching Question 207 Match the following statements to the appropriate terms. Each partner is personally and individually liable for partnership debts. Made on basis of partners' capital balances. Explains changes in individual partner's capital accounts during a period. Each partner can bind the partnership so long as the action appears to be appropriate for the partnership Business terminates. Results in an increase in total net assets and total capital of the partnership Capital account with a debit balance. The basis...
please answer all four multiple choice questions
QUESTION 13 The Kaplan Group sold $200,000 of 10-year bonds for $190,000. The face rate on the bonds was 8 % and interest is paid annually on December 31. What entry would be made on December 31 when the interest is paid? (Numbers are omitted.) Interest Expense 1. Bonds Payable Cash Interest Expense 2. Discount on Bonds Payable Cash Interest Expense Discount on Bonds Payable 3. Cash Interest Expense 4. Cash QUESTION 14...
Hi I need help completing 2A and 2B. I've attached both question
and my work done so far.
Use the following Balance Sheet to answer Ince Sheet to answer questions 1-3: Black & Blue Balance Sheet December 31, 2017 Assets Liabilities Cash $ 10,000 Accounts Payable $ 20.000 119.000 Non-Cash Assets Partner's' Equity Black, Capital Blue, Capital Total Partners' Equity Total liabilities and Partners' Equity 65,000 55.000 120,000 Total Assets 120m Requirements (1, 2, and 3 are independent situations) 1....
please answer all four multiple choice questions
QUESTION 17 Outstanding shares represent the 1. maximum number of shares that can be sold by the corporation. 2. number of shares that are currently held by stockholders. 3. number of previously issued shares that have been repurchased by the corporation. 4.number of shares that the corporation has sold. QUESTION 18 The Discount on Bonds Payable account is shown on the balance sheet as 1. an asset. 2. an expense. 3. a contra-liability...
Chenard,
Jennings, and Blair share profits and losses is 2:3:5,
respectively. The balance sheet is: CHENARD, JENNINGS, AND BLAIR
PARTNERSHIP Balance Sheet December 31, 2020 Assets Liabilities and
Owners' Equity Cash $45100 Liabilities $145000 Noncash assets
280000 Chenard, Capital 60000 Jennings, Capital 90300 Blair,
Capital 29800 Total $325100 Total $325100 If the partnership is
liquidated and the noncash assets are worthless, the creditors will
look to what partner's personal assets for settlement of the
creditors' claims?
Multiple Choice Question 105...
1. The limited liability company may elect to be manager-managed rather than member-managed, which means that only authorized members may legally bind the corporation. a. True b. False 2. A corporation is a separate entity for accounting purposes but not for legal purposes. a. True b. False — 3. When compared to a corporation, one of the major disadvantages of the partnership is its limited life. a. True b. False _ 4. Each partner may withdraw the assets he or...
17. A deficient partner A s assumed to be always insolvent B who is solvent and has a loan to the st a tes the right of C should inmediately withdraw from the partnership D may invest additional cash The partners did not agree is to how t h e guided then ch should be divided among partners A based on original capital to B arbitrary ratio C equally D. based on ending capital ratio 19. The total partners' equity...
Most questions answered within 3 hours.
-
Where is the error in this code sequence?
String s1 = "Hello";
String s2 = "ello";...
asked 10 months ago -
Financial data for Joel de Paris, Inc., for last year
follow:
Joel de Paris, Inc.
Balance...
asked 10 months ago -
Consider this reaction:
Al2(SO4)3 (aq)+ BaCl3
(aq) Al2Cl6 (aq)- +
3BaSO4(s) . What is the...
asked 10 months ago -
Suppose that Savneet is considering increasing her
recent random sample from 20 car rentals to 40...
asked 10 months ago -
Trucks arrive at an unloading terminal at an average rate of 120
per hour.
Trucks arrive...
asked 10 months ago -
Why are methanol and ethanol completely soluble in water while
octanol is not very little soluble....
asked 10 months ago -
A facilities manager at a university reads in a research report
that the mean amount of...
asked 10 months ago -
When the CuSO4 is rehydrated by adding water to the anhydrous
compound, is this an endothermic...
asked 10 months ago -
A ray of sunlight is passing from diamond into crown glass; the
angle of incidence is...
asked 10 months ago -
A block of mass 0.249 kg is placed on top of a light, vertical
spring of...
asked 10 months ago -
how do the kidneys compensate in the presences of acidosis
a) trigger hyperventilate
b) reserve acid...
asked 10 months ago -
Question 501 pts
The rental rate of capital to the firm increases. Which of the
following...
asked 10 months ago