Zookal
Zookal

We’d love to hear any feedback or comment from you!

© 2011-2021 Zookal Pty Ltd

View question and answer

From our collection of questions and answers
Business · Accounting
Question details

The following events took place for B and K Consulting. More Info (Click the icon to view the transactions for 2014 and 2015.) (Click the icon to view the transactions for 2016 and 2017) 2014 1. Journalize all of the transactions for the partnership 2. Prepare the partners equity section of the balance sheet as of January 2, 2017 Jun 10 Adam Buckner and Amber Kwan have agreed to pool their assets and form a partnership to be called B&K Consulting. They agree to share all protits equally and make the following initial investments Dec 31. The partnerships reported net income was $480000, (Round interim and final answers to the nearest whole dollar) Journal Entry Date Credit Cash Accounts receivable (net) Office fumiture The partnerships reported net income was $195,000 for the year ended 5 15,000 33,000 36,000 3D,000 27,000 24,000 Dec 31 Income Summary 480.000 Heidi Nguen, Capital Adam Buckner, Capital Amber Kwan, Capital 167,100 149,925 162,975 Dec 31 2D15 Jan1 December 31, 2014 Buckner and Kwan agree to accept Heidi Nguen into the partnership with a 5180,000 investment for 30 percent of the business. The partnership agreement is amended to provide for the following sharing of profits and losses. Journal Entry Accounts Credit Buckner 90,000 5% Kwan 120,000 5% Annual salary Interest on capital balance Balance in ratio of The partnerships reported net income was $480 000 75,000 5% Dec 31 is complete. Mave your cursor over or tap on the red arrows to see incorrect answers Print DoneNeed help on Dec 31 2015, I don't know where the 167100, 149925, and 162975 come from

Answer
Find step-by-step answers from expert tutors to questions asked by students like you. Start 14-day free trial.Find step-by-step answers from expert tutors to questions asked by students like you. Start 14-day free trial.Find step-by-step answers from expert tutors to questions asked by students like you. Start 14-day free trial.Find step-by-step answers from expert tutors to questions asked by students like you. Start 14-day free trial.Find step-by-step answers from expert tutors to questions asked by students like you. Start 14-day free trial.Find step-by-step answers from expert tutors to questions asked by students like you. Start 14-day free trial.Find step-by-step answers from expert tutors to questions asked by students like you. Start 14-day free trial.Find step-by-step answers from expert tutors to questions asked by students like you. Start 14-day free trial.Find step-by-step answers from expert tutors to questions asked by students like you. Start 14-day free trial.Find step-by-step answers from expert tutors to questions asked by students like you. Start 14-day free trial.Find step-by-step answers from expert tutors to questions asked by students like you. Start 14-day free trial.Find step-by-step answers from expert tutors to questions asked by students like you. Start 14-day free trial.Find step-by-step answers from expert tutors to questions asked by students like you. Start 14-day free trial.Find step-by-step answers from expert tutors to questions asked by students like you. Start 14-day free trial.

Find step-by-step answers from expert tutors to questions asked by students like you. Start 14-day free trial.Find step-by-step answers from expert tutors to questions asked by students like you. Start 14-day free trial.Find step-by-step answers from expert tutors to questions asked by students like you. Start 14-day free trial.Find step-by-step answers from expert tutors to questions asked by students like you. Start 14-day free trial.Find step-by-step answers from expert tutors to questions asked by students like you. Start 14-day free trial.Find step-by-step answers from expert tutors to questions asked by students like you. Start 14-day free trial.Find step-by-step answers from expert tutors to questions asked by students like you. Start 14-day free trial.Find step-by-step answers from expert tutors to questions asked by students like you. Start 14-day free trial.Find step-by-step answers from expert tutors to questions asked by students like you. Start 14-day free trial.Find step-by-step answers from expert tutors to questions asked by students like you. Start 14-day free trial.Find step-by-step answers from expert tutors to questions asked by students like you. Start 14-day free trial.Find step-by-step answers from expert tutors to questions asked by students like you. Start 14-day free trial.Find step-by-step answers from expert tutors to questions asked by students like you. Start 14-day free trial.Find step-by-step answers from expert tutors to questions asked by students like you. Start 14-day free trial.