My writer delivered an awesome dissertation on the Creek War, I definitely didn’t have the time to do all the research she did on my own.
Samuel and Vinnie decided to form a partnership on 1 January 2017. They secured the services of a solicitor to draw up their partnership agreement as follows: a. Samuel is to contribute the following: • his vehicle valued at $72 000 • plant and equipment valued at $168 000 • accounts receivable totalling $28 800. b. Vinnie is to contribute the following: • cash totalling $48 000 • a building valued at $336 000 • a mortgage of $192 000. This was secured over the building, and the partnership agreed to assume this liability. It was also agreed that Samuel would act as manager with an annual salary of $120 000, to be allocated at the end of each year. Profits or losses would be divided between Samuel and Vinnie in the proportion 3/5 and 2/5 respectively. Gross profit for the year ended 31 December 2017 was $520 000, with operating expenses of $240 000. Samuel withdrew $24 000 and Vinnie withdrew $32 000 during the year. Required a. Prepare the balance sheet of the partnership on its formation (1 January 2017). b. Calculate each partner’s share of profit for the year ended 31 December 2017.
Delivering a high-quality product at a reasonable price is not enough anymore.
That’s why we have developed 5 beneficial guarantees that will make your experience with our service enjoyable, easy, and safe.
You have to be 100% sure of the quality of your product to give a money-back guarantee. This describes us perfectly. Make sure that this guarantee is totally transparent.Read more
Each paper is composed from scratch, according to your instructions. It is then checked by our plagiarism-detection software. There is no gap where plagiarism could squeeze in.Read more
Thanks to our free revisions, there is no way for you to be unsatisfied. We will work on your paper until you are completely happy with the result.Read more
Your email is safe, as we store it according to international data protection rules. Your bank details are secure, as we use only reliable payment systems.Read more
By sending us your money, you buy the service we provide. Check out our terms and conditions if you prefer business talks to be laid out in official language.Read more