Maurice Tutor

(5)

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About Maurice Tutor

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Expertise:
Algebra,Applied Sciences See all
Algebra,Applied Sciences,Biology,Calculus,Chemistry,Economics,English,Essay writing,Geography,Geology,Health & Medical,Physics,Science Hide all
Teaching Since: May 2017
Last Sign in: 402 Weeks Ago
Questions Answered: 66690
Tutorials Posted: 66688

Education

  • MCS,PHD
    Argosy University/ Phoniex University/
    Nov-2005 - Oct-2011

Experience

  • Professor
    Phoniex University
    Oct-2001 - Nov-2016

Category > Accounting Posted 17 Aug 2017 My Price 5.00

Rhiri and Brit

please can you help how to get the answers fpr this problem solving .. I am really could not get the correct answer. problem: On Jan 1, 2011, the Rhiri, Brit & Keisha partnership is formed. Rhiri and Brit contribute cash of $30,000 and $20,000 respectively, while Keisha contributes assets with the following fair values: Inventory $ 5,000 Land 22,000 Buildings 23,000 TOTAL CONTRIBUTIONS $ 50,000 The partners agree on a profit and loss sharing ratio of 3:2:5. During the first year, net income is $70,000 and the partners’ drawings are Rhirhi — $12,000, Brit —$15,000, and Keisha — $30,000. Requirements : 1.Record the Initial investment made by each partners during Jan 1. 2.Entries to record withdrawals made by partners.

Answers

Maurice Tutor
(5)
Status NEW Posted 17 Aug 2017 11:08 PM My Price 5.00

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