Logo
Home Study Material Contact Search
AI Chat FREE
  1. business
  2. accounting
  3. pia and ramona are partners who share income in th

Pia and Ramona are partners who share income in the ratio of 3:2. Their capital...

80.2K

Verified Solution

Question

Accounting

Pia and Ramona are partners who share income in the ratio of 3:2. Their capital balances are $90,000 and $130,000 respectively. Income Summary has a credit balance of $40,000. What is Pia's capital balance after closing Income Summary to Capital?

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: Zin AI - Your personal assistant for all your inquiries!
Become a Member

Other questions asked by students

Q

What is the measure of Arc CB 60 B 84 O 60 O 90 O...

Geometry
Q

Vinnie is a professional road cyclist participating in the 2020 Giro d’Italia, a three-week race nearly...

Medical Sciences
Q

Year/Number of Years Since 1971/Number of stores 1971    0 1 1987 16 17 1988 17 33 1989 18 55 1990 19 84 1991 20 116 1992 21 165 1993 22 272 1994 23 425 1995 24 677 1996 25 1015 1997 26 1412 1998 27 1886 1999 28 2498 2000 29 3501 2001 30 4709 2002 31 5886 2003 32 7225 2004 33 8569 2005 34 10241 2006 35 12440 2007 36 15011 2008 37 16680 2009 38 16635 2010 39 16858 2011 40 17003 2012 41 18066 2013 42 19767 2014 43 21366 2015 44 22519 Identify the initial value and the growth rate...

Basic Math
Q

An infinite large uniform charged non conducting sheet having surface charge density a is placed...

Physics
Q

View PoliciesCurrent Attempt in ProgressWrite an expression representing the given quantity.A population at time t...

Basic Math
Q

How did you decide If f x x 5 2 then which of the following...

Calculus
Q

An amniocentesis is used to extract fetal DNA to arrange and photograph it and to...

Algebra
Q

Compute the payback periods and decide which project is better based on the following information....

Accounting
Q

Use the following to answer questions 612 The company has two classes of stock authorized:...

Accounting
Q

Calculate the future value of the annuity, assuming that it is An ordinary annuity....

Accounting
Q

A company purchased new equipment for $74,000. The company paid cash for the equipment Other...

Accounting
Q

Discuss Allowable Expenses in relation to Offer in Compromise. OIC amount depends upon two factors....

Accounting