Loading...

Messages

Proposals

Stuck in your homework and missing deadline? Get urgent help in $10/Page with 24 hours deadline

Get Urgent Writing Help In Your Essays, Assignments, Homeworks, Dissertation, Thesis Or Coursework & Achieve A+ Grades.

Privacy Guaranteed - 100% Plagiarism Free Writing - Free Turnitin Report - Professional And Experienced Writers - 24/7 Online Support

Kramer and knox began a partnership by investing

07/11/2020 Client: arwaabdullah Deadline: 7 Days

Question 1.

Kramer and Knox began a partnership by investing $60,000 and $80,000, respectively. During its first year, the partnership earened $160,000. Prepare calculations showing how the $160,000 income should de allocated to the partners under each of the following three separete plans for sharing income and loss: (1) the partners failed to agree on a method to share income ; (2) the partners agreed to share income and loss in proportion to their initial investments; and (3) the partners agreed to share income by granting a $50,000 per year salary allowance to Kramer, a $40,000 per year salary allowance to Knox, 10% interest on thir initial capital investments, and the remaining balance shared equally.

Note: Income allocation in a partnership.

Plan 3, Kramer , $84,000

Question2.

Prepare journal entries to record the following four separate issuances of stock.

a. 2000 shares of no-per common stock are issued to the corporation’s promoters in exchanges for their efforts, estimated to be worth $40,000. The stock has no stated value.

b. 2000 shares of no-per common stock are issued to the corporation’s promoters in exchanges for their efforts, estimated to be worth $40,000. The stock has a $1 per share stated value.

c. 4000 shares of $5 par value common stock are issued for $35,000 cash.

d. 1000 shares of $50 per value preferred stock are issued for $60,000 cash.

Question3.

The stockholders equity of TVX company at the beginning of the day on February 5 follows.

Common stock - $10 par value, 150,000 shares

Authorized, 60,000 shares issued and outstanding ………… $600,000

Paid-in capital in excess of par value, common stock …………… 425,000

Retained earnings …………………………………………………………… 550,000

Total stockholders’ equity …………………………………… $1,575,000

on February 5, the directors declare a 20% stock dividend distributable on February 28 to the February 15 stockholders of record. The stock’s market value is $40 per share on February 5 before the stock dividend. The stock’s market value is $33.40 per share on February 28.

1. Prepare entries to record both the dividend declaration and its distribution

2. one stockholder owned 800 shares on February 5 before the dividend. Compute the book value per share and total book value of this stockholders shares immediately before and after the stock dividend of February 5.

3. compute the total market value of the investor’s shares in part 2 as of February 5 and February 28.

Question 4.

Kohler Corporation reports the following components of stock holders’ equity on December 31, 2008.

Common stock - $10par value, 100,00 shares authorized,

40,000 shares issued and outstanding ………………………………….. $400,000

Paid-in capital in excess of par value, common stock $60,000

Retained earnings ……………………………………………………………….. $270,000

Total stockholders’ equity ……………………………….. $730,000

In year 2009, the following transactions affected its stockholders, equity accounts.

Jan. 1 purchased 4,000 shares of its own stock at $20 cash per share .

Jan. 5 Directors declared a $2 per share cash dividend payable on Feb. 28 to the Feb. 5 stockholders of record.

Feb. 28 Paid the dividend declared on January 5.

July 6 sold 1,500 of its treasury shares at $24 cash per share.

Aug 22 Sold 2,500 of its treasury shares at $17 cash per share.

Sept. 5 Directors declared a $2 per share cash dividend payable on October 28 to the September 25 stockholders of record.

Oct. 28 Paid the dividend declared on September 5.

Dec. 31 closed the $388,000 credit balance ( from net income ) in the income summery account to Retained Earnings.

Required

1. Prepare journal entries to record each of these transactions for 2009

2. Prepare a statement of retained earnings for the year ended December 31, 2009.

3. Prepare the stockholders’ equity section of the company’s balance sheet as of December 31, 2009.

Homework is Completed By:

Writer Writer Name Amount Client Comments & Rating
Instant Homework Helper

ONLINE

Instant Homework Helper

$36

She helped me in last minute in a very reasonable price. She is a lifesaver, I got A+ grade in my homework, I will surely hire her again for my next assignments, Thumbs Up!

Order & Get This Solution Within 3 Hours in $25/Page

Custom Original Solution And Get A+ Grades

  • 100% Plagiarism Free
  • Proper APA/MLA/Harvard Referencing
  • Delivery in 3 Hours After Placing Order
  • Free Turnitin Report
  • Unlimited Revisions
  • Privacy Guaranteed

Order & Get This Solution Within 6 Hours in $20/Page

Custom Original Solution And Get A+ Grades

  • 100% Plagiarism Free
  • Proper APA/MLA/Harvard Referencing
  • Delivery in 6 Hours After Placing Order
  • Free Turnitin Report
  • Unlimited Revisions
  • Privacy Guaranteed

Order & Get This Solution Within 12 Hours in $15/Page

Custom Original Solution And Get A+ Grades

  • 100% Plagiarism Free
  • Proper APA/MLA/Harvard Referencing
  • Delivery in 12 Hours After Placing Order
  • Free Turnitin Report
  • Unlimited Revisions
  • Privacy Guaranteed

6 writers have sent their proposals to do this homework:

Buy Coursework Help
Quality Homework Helper
Essay Writing Help
Top Grade Essay
Writer Writer Name Offer Chat
Buy Coursework Help

ONLINE

Buy Coursework Help

Hi dear, I am ready to do your homework in a reasonable price.

$162 Chat With Writer
Quality Homework Helper

ONLINE

Quality Homework Helper

Hi dear, I am ready to do your homework in a reasonable price.

$162 Chat With Writer
Essay Writing Help

ONLINE

Essay Writing Help

I am a qualified and experienced Writer, Researcher, Tutor, analyst and Consultant. I hold MBA (Strategic Management) (Finance and Marketing) & CPA.K (Accounting and Finance.)

$162 Chat With Writer
Top Grade Essay

ONLINE

Top Grade Essay

Working on this platform from a couple of time with exposure of dynamic writing skills gathered with years experience on different other websites.

$162 Chat With Writer

Let our expert academic writers to help you in achieving a+ grades in your homework, assignment, quiz or exam.

Similar Homework Questions

Dean of medicine ucd - JA2 - Empirical molecular formula practice - Project closure report template - Monmouth university alumni directory - Emotional intelligence in mental health nurses talking about practice - Introduction to statistics and data analysis 2nd edition answers - WEEK 3 DISCUSSION - Semester 2 dates uts - Chapter 13 strategy balanced scorecard and strategic profitability analysis - Sans business continuity plan - Diary of anne frank play character descriptions - Week 4 assignment - Black pole st kilda coordinates - Write an essay for my Africana Studies Course 3-5 pages Double Spaced - The family crucible theories - Nursing and technology a love hate relationship - Key and peele seven inch - Organization Leadership and decision making - Role and Scope Research 1 - Nessus activation code offline - Sustained movement in dance - Simple write up form - Chic point fashion for israeli checkpoints - Advantages of using rubrics - Discussion 2: The Role of the RN/APRN in Policy-Making - What is the difference between a consultation and a referral - Hands on labs answers - Logbook format for laboratory - Socw 6456 assignment - Employee training and development raymond noe 6th edition pdf - All of the information your brain receives __________ - Belgrave nominees pty ltd v barlin-scott airconditioning pty ltd - Patrick the human resources manager at acme company - (Rok) week 10 discussion eco100 - Implementation of the iom future of nursing report essay - Computing - 1 to the power of 10 - What is the difference between linear regression and logistic regression - Greek theater evolved out of - Melting point of gold - Vce physics formula sheet 2019 - DQ2 - Aaa configuration cisco switch - Course weighted average calculator curtin - Driving high performance culture - 79a mccabe street mosman park - Eleanor rigby lyrics meaning - Best christian publishers for new authors - Georgetown university law school - What is lord of the flies an allegory for - What was hulegu's greatest military accomplishment - Mackay fuel filler hose - General survey nursing assessment example - What are the seven biomes - Electrogas welding advantages and disadvantages - Mazoon college student login - Essay 3 - QNT561 Week 1 Statistics Concepts and Descriptive Measures - Coventry ac uk mail - Theories of pain transmission through dentin - I am in blood stepped in so far quote - The following cost data relate to the manufacturing activities of chang company - CH8 db - Fixed point scaling in computer graphics - Final Project - Sds page analysis of gfp lab report - Business law 3 - Westjet airlines information technology governance and corporate strategy pdf - Qnt 351 week 2 individual assignment - Week 4 - Ray bradbury the last night of the world analysis - Question answer from the book - Fish tycoon 2 magic fish breeding chart pictures - Ionic species are most soluble in - Three cheeky monkeys song - Network consultation for designit - Cic general induction card - Marriage confidential love in the post romantic age - Teacher aide role description qld - Www uq edu au library - Advantages of system analysis and design - Is the united states airline industry attractive - Aa bb cc abc - Goat island skiff gumtree - Paramecium caudatum eukaryotic or prokaryotic - Heat of reaction hess's law - The practice of tailoring products and marketing programs - 4 to 1 mux verilog - Geology Week 8 - Harmonic distortion in power amplifier - Comparative essay outline example - Lección 4 grammar quiz - Assignment @ AUGUST 14th - Information Technology question - Liabilities of a company are owed to - Business continuity institute certification - IT402 - Claudine trillo jason webb split - +91##9928097710 bREakup pRoblEm solution Molvi ji in Mumbai