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What is the journal entry for partner A selling his 70000 equity in the partnership to partner B for 55000?
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What is a basic accounting equation?
Single proprietorship assets= liabilities + capital partnership assets= liabilities + partner's equity corporation assets= liabilities + shareholder's equity
The owner of equity in a partnership is called?
owner equity
When was The Journal of Private Equity created?
The Journal of Private Equity was created in 1997.
Why choose a partnership business?
because in a partnership helps you out with equity finance
What is the journal entry for investment in subs?
equity
What is equity partner?
Bid Bonds accounting recording
Does sweat equity means you are a partner in the company?
Sweat equity just means you put hard work into the company. You are not a partner unless the other partner[s] put you in the paperwork as a partner. However, instead of making you put up a financial stake they can give you credit for the amount of money your labor would have cost them. That's why it is called 'sweat equity'.
What is a journal entry that moves the difference between revenue and expenses from the income statement to the owner's equity?
expenses decrease owner's equity where as revenue increases owner's equity
What does 'LP' mean when referring to a company?
'LP' commonly stands for Limited Partnership when referring to a company structure. This means that the company has both general partners who manage the business and limited partners who invest but have limited liability.
How do you you make a journal entry for Issued new equity to shareholders receiving 500 in cash?
debit cash 500credit equity shares 500
What is opening journal entry?
[Debit] cash / bank / goods [Credit] Owner's equity
What has the author D J Bakibinga written?
D. J. Bakibinga has written: 'Partnership law in Uganda' -- subject(s): Partnership 'Nigerian law of partnership' -- subject(s): Partnership 'Company law in Uganda' -- subject(s): Corporation law, Cases 'Equity and trusts'
