Entries by mary WAMBUGU

Allocate income to partners. There are two problems on this page.Problem 1:Partnership Facts:1. Mary and Bob are both general partners of a partnership.

August 27, 2019 in /by

Allocate income to partners.  There are two problems on this page. Problem 1: Partnership Facts: 1. Mary and Bob are both general partners of a partnership. 2. Mary invested $225,000 in the partnership. 3. Bob invested $150,000 in the partnership. 4. Income is allocated based on the investment of each partner relative to the total […]

 

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Select the best answer for the following questions. Each question is worth 5 points Question 1 (5 points) Using the selected data below, calculate the net cash provided by operating activities: Net income $240,000

August 27, 2019 in /by

Multiple Choice Questions Select the best answer for the following questions. Each question is worth 5 points Question 1 (5 points) Using the selected data below, calculate the net cash provided by operating activities: Net income $240,000 Increase in accounts receivable $15,000 Increase in accounts payable   $12,000 Gain on the sale of equipment $8,000 Depreciation […]

 

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Alpha company purchased a bond investment on January 1, 2017. The bonds have a par of $10,000, pay interest at a 5% annual rate and have 5 years until maturity

August 27, 2019 in /by

Alpha company purchased a bond investment on January 1, 2017.  The bonds have a par of $10,000, pay interest at a 5% annual rate and have 5 years until maturity. What is the total Interest Income that will be reported over the life of the bond investment if the bonds were purchased at 102 and Alpha […]

 

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Immediately following an acquisition, the Alpha Company’s balance sheet included cash $50,000, investment in subsidiary $250,000, plant assets $450,000, and liabilities $150,000.

August 27, 2019 in /by

Immediately following an acquisition, the Alpha Company’s balance sheet included cash $50,000, investment in subsidiary $250,000, plant assets $450,000, and liabilities $150,000.  The wholly owned subsidiary (Bravo-Zulu Company) had cash $75,000, plant assets $145,000, and liabilities $60,000.  All balances are normal. There are no other assets or liabilities, and the given values for the subsidiary are also […]

 

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