Post a New Question


posted by .

Anybody out there who can help enlighten me with the following problem PLEASE don't hesitate :) TIA..
The Struter Partnership has total partners' equity of $510,000, which is made up of Main, Capital, $400,000, and Frist, Capital, $110,000. Ther partners share net income and loss in a ratio of 80% to Main and 20% to Frist. On November 1, Madison is admitted to the partnership and given a 15% interest in equity and 15% share in any income and loss. Prepare the journal entry to record the admission of Madison under each of the following separate assumptions: Madison invests cash of (1) $90,000; (2) $120,000; and (3) $80,000.

  • Accounting -

    enter the following transaction in the journal of aram and prepar ledger accounts also balance the ledger accounts and draw a trial balance as on 30th april 2015
    1. He started business with cash $10000
    2. Deposited in to bank(salam) $5000
    3. Bought goods from zara co for cash $4000
    4.aram had taken goods worth $200
    5. He sold goods to lara on account $2000
    6. He purchased motor car for $2000 by cheque
    7.received cash from lara $1000
    8. He bought stationery on credit from M.Dara $200
    9. He sold goods to Dler by cheque $1000
    10. He paid salaries for the month of April $500 cash

Answer This Question

First Name:
School Subject:

Related Questions

More Related Questions

Post a New Question