Logo
Home Study Material Contact Search
AI Chat FREE
  1. business
  2. accounting
  3. jefferson cleveland and mckinlay are parts with ca

Jefferson Cleveland and Mckinlay are parts with capital balance on June 200 P. 90.000 P...

80.2K

Verified Solution

Question

Accounting

image

Jefferson Cleveland and Mckinlay are parts with capital balance on June 200 P. 90.000 P 90.000 and P 60 000 respectively. Proto share. Men whom the partnership. The partners agree that Mckinley to take con tuture and its second hand value of P 3.000, and a note for the balance of his wrest. The turned are carried on the books as fully depreciated. What is the entry would be made to record the settlement with Machine A. Mckinley, capital 00.000 Notes payable 50.000 B. Mckinley, capital 50.000 Furniture and fixture 3.500 Notes payable 52 800 Jefferson, capital 1.800 Cleveland C. Mckinley, capital 61,200 Furniture and fixture Notes payable 19.200 D. Mckinley, capital 61,200 1.200 Jefferson 1,200 Cleveland, capital Mckinley, capital 57,600 Notes payable 1 800 3,800 1.200

Answer & Explanation Solved by verified expert
Get Answers to Unlimited Questions

Join us to gain access to millions of questions and expert answers. Enjoy exclusive benefits tailored just for you!

Membership Benefits:
  • Unlimited Question Access with detailed Answers
  • Zin AI - 3 Million Words
  • 10 Dall-E 3 Images
  • 20 Plot Generations
  • Conversation with Dialogue Memory
  • No Ads, Ever!
  • Access to Our Best AI Platform: Flex AI - Your personal assistant for all your inquiries!
Become a Member

Other questions asked by students

Q

MCDONALDS balance sheet. Fiscal year is January-December. All values USD millions. 2014 2015 2016 2017 2018 5-year trend Cash & Short Term Investments 2.08B 7.69B 1.22B 2.46B 866M Cash...

Finance
Q

A recent study from the Department of Education shows that approximately 11% of students are in...

Statistics
Q

why do you think a criminal background investigation is one example or of method of counter-intellignce ?

Psychology
Q

Why is it important to learn about the 4 concepts below: Compulsory reproduction: refers to the...

Psychology
Q

A circle has a diameter of 12 units and its center lies on the x...

Geometry
Q

Odessa s credit score is 692 while Vito s credit score is 637 According to...

Geometry
Q

1 point Solve for the matrix X if AX B Assume that all matrices are...

Basic Math
Q

7 Evaluate without a calculator State your answer in number form

Algebra
Q

Exercise 4-4 (Algo) Contrast ABC and Conventional Product Costs [LO4-4] Pacifica Industrial Products Corporation makes...

Accounting
Q

Balonek incs contribution margin ratio is 57% and its monthly fixed expeneses are $41,000. assuming...

Accounting
Q

Superior Markets, Inc., operates three stores in a large metropolitan area. A segmented absorption costing...

Accounting
Q

The following summarized data (amounts in millions) are taken from the September 27, 2014, and...

Accounting