Prepare a statement of partnership equity for the year ended December 31, 2012. If an amount is zero, enter in “0″.
Angel Investor Associates
Statement of Partnership Equity
For the Year Ended December 31,2012
Scott Wilson, Capital
Michael Goforth, Capital
Lance McGinnis, Capital
Total Partnership Capital
Partnership capital, January 1, 2012
$
$
$
Admission of Lance McGinnis
Salary allowance
Remaining income
Less: Partner withdrawal
Partnership capital, December 31
$
Partner Bonuses, Statement of Partners’ Equity
The partnership of Angel Investor Associates began operations on January 1, 2012, with contributions from two partners as follows:
The following additional partner transactions took place during the year:
1. In early January, Lance McGinnis is admitted to the partnership by contributing $ 50,000 cash for a 20% interest.
2. Net income of $ 250,000 was earned in 2012. In addition, Scott Wilson received a salary allowance of $ 45,000 for the year. The three partners agree to an income-sharing ratio equal to their capital balances after admitting McGinnis.
3. The partners’ withdrawals are equal to half of the increase in their capital balances from salary allowance and income.
Prepare a statement of partnership equity for the year ended December 31, 2012. If an amount is zero, enter in “0″.
Answer by MisterZero
Three points.
1) This is NOT the Homework Board.
2) We will NOT be there when this question shows up on the test, so…
3) It is imperative that YOU know HOW to arrive at the correct answer. If you cannot get the answer using your study materials then you need to contact your instructor for a further explanation OR to arrange some one-on-one tutoring.
I don’t mean to be MEAN…but, like I said, we won’t be there when you take the test…and I can assure you that the instructor/school will not allow you to “post a question on the internet” as a means of answering test questions.
G’Luck…
On June 30, 2009, Sharper Corporation’s common stock is priced at $ 31 per share before any stock dividend or split, and the stockholders’ equity section of its balance sheet appears as follows:Common stock—$ 6 par value,85,000 shares authorized, 34,000 shares issued and outstanding $ 204,000 Paid-in capital in excess of par value, common stock: $ 100,000 Retained earnings: $ 304,000 Total stockholders’ equity: $ 608,000
Assume that the company implements a 3-for-2 stock split. Answer these questions about stockholders’ equity as it exists after issuing the new shares. What is the retained earnings balance? What is the amount of total stockholders’ equity? How many shares are outstanding?
Answer by InspectorBudget
You have been asking many questions about stocks, dividends etc on the forum.
I really do suggest that you try and do your homework assignments, because they are there to help you understand your course material.
You might get temporary relief from knowledgeable folks answering them, but you will not improve your understanding of the subject by doing this. And I don’t think you have enough time to post and get answers to exam questions on the forum.
Good luck to you, and I mean it.
Answer by GmanIV
plus your questions are not questions but more like a trivia question. Asking and wanting someone to come up with the answer
I bought Spirit Financial Corp (SFC) (REIT) back in January. They are being bought out by private equity for all cash at $ 14.50 per share, but they are still paying a dividend until the sale is completed (3rd qrtr). Do I still get the $ 14.50 per share price or $ 14.50 per share minus dividends?
Answer by Dave W
In every case I’ve seen, you get the announced sale price – in this case $ 14.50 when the sale closes. Any dividends paid prior to the sale are in addition to the $ 14.50.
From what I see in this press release: http://biz.yahoo.com/bw/070702/20070702005976.html?.v=1
it looks like in addition to the $ 0.22/share being paid July 25, there will also be an additional pro-rated dividend paid covering the period from July 1 to the date of merger. So if the merger completes August 1, you’d get about a third of a normal dividend (a little over 7 cents) in addition to the $ 14.50 after the deal closes.
Answer by katerschenko
You will receive the $ 14.50 per share plus a pro rata dividend up to the date of sale.
Answer by Colonia
As long as its done after the ex- dividend date, I imagine you’ll get the full $ 14.50 per share
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