Questions from Advanced Accounting

Q: How might a partner withdrawing in violation of the partnership agreement and

How might a partner withdrawing in violation of the partnership agreement and without the consent of the other partners be treated? What about a partner who is forced to withdraw?

Q: Distinguish between a partner’s interest in capital and his interest in the

Distinguish between a partner’s interest in capital and his interest in the partnership’s income and losses. Also, make a general distinction between a partner’s capital account and his drawing accoun...

Q: Explain why a partnership is viewed in accounting as a “separate

Explain why a partnership is viewed in accounting as a “separate economic entity.”

Q: List some of the alternative methods of calculating a bonus that may

List some of the alternative methods of calculating a bonus that may appear in a partnership agreement.

Q: What is meant by dissolution and what are its causes?

What is meant by dissolution and what are its causes?

Q: Discuss the methods used to record changes in partnership membership.

Discuss the methods used to record changes in partnership membership.

Q: Blood River Productions enters into a sale agreement for its recent film

Blood River Productions enters into a sale agreement for its recent film. A sale occurs when the entity transfers control of the master copy of a film and all the associated rights that go along with...

Q: Why are realization gains or losses allocated to partners in their profit

Why are realization gains or losses allocated to partners in their profit and loss ratios?

Q: Following is the preclosing trial balance for the General Fund of the

Following is the preclosing trial balance for the General Fund of the City of Doyle. Note 1: Includes $50,000 of encumbrances from 2015. Required: Prepare in general journal form the closing entrie...

Q: Discuss the three basic assumptions necessary for calculating a safe cash distribution

Discuss the three basic assumptions necessary for calculating a safe cash distribution. How is this safe cash distribution computed?