Homework Help: Accounting, Advanced

Posted by Delanour on Saturday, May 2, 2009 at 7:46pm.

After realization of all noncash assets and the payment of all liabilities, the balance sheet of the liquidating Pon, Quan & Ron LLP on January 31, 2005, showed Cash,$15,000; Pon, Capital, ($9,000); Quan & Ron, Capital, $16,000, with ( ) indicating a capital deficit. The partners share net income and losses equally.
Prepare a journal entry for Pon, Quan & Ron LLP Jan 31, 2005, to show the payment of $15,000 cash in a safe manner to the partners. Show computations in the explaination for the journal entry.

Thaks in advance and have a good one!

Accounting, Advanced - SraJMcGin, Sunday, May 3, 2009 at 9:56am
Thank you for helping with the French. Now let's hope we can help you! Please try the following:

http://www.google.com/search?q=journal+entry+tutorial&ie=utf-8&oe=utf-8&aq=t&rls=org.mozilla:en-US:official&client=firefox-a

Sra
Accounting, Advanced - Delanour, Sunday, May 3, 2009 at 3:46pm
Thank you SraJMcGin for the Accounting site; my pleasure for the french answer.

Delanour

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