Accountancy, asked by minhakhan024, 25 days ago

BE12-7
Alpha Co. capital balances are: Ace $30,000, Bly $25,000, and Cox $20,000. The partners share income equally. Day is admitted to the firm by purchasing one-half of Cox’s interest for $13,000. Journalize the admission of Day to the partnership.

Answers

Answered by anishaprasad816

Answer:

556Chapter 12Accounting for Partnerships*BE12-8In Decker Co., capital balances are Menke $40,000 and Hibbett $50,000.The partnersshare income equally. Kosko is admitted to the firm with a 45% interest by an investment of cashof $52,000. Journalize the admission of Kosko.*BE12-9Capital balances in Midway Co. are Messer $40,000, Isch $30,000, and Denny $18,000.Messer and Isch each agree to pay Denny $12,000 from their personal assets. Messer and Ischeach receive 50% of Denny’s equity. The partners share income equally. Journalize the with-drawal of Denny.*BE12-10Data pertaining to Midway Co. are presented in BE12-9. Instead of payment frompersonal assets, assume that Denny receives $24,000 from partnership assets in withdrawing fromthe firm. Journalize the withdrawal of Denny

Previous Question

Next Question

BE12-7 Alpha Co. capital balances are: Ace $30,000, Bly $25,000, and Cox $20,000. The partners share income equally. Day is admitted to the firm by purchasing one-half of Cox’s interest for $13,000. Journalize the admission of Day to the partnership.​

Answers

BE12-7
Alpha Co. capital balances are: Ace $30,000, Bly $25,000, and Cox $20,000. The partners share income equally. Day is admitted to the firm by purchasing one-half of Cox’s interest for $13,000. Journalize the admission of Day to the partnership.