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A,B and C were sharing profit and losses in the ratio of 5:3:2. The firm had insured the partner's lives severally. The surrender value of the life policies appearing in the Balance Sheet as at 10th Nov.,2004 were: A- 40,000$ B- 32,000$ C-24,000$ The surrender values represents 40% of the sum assured in each case. A dies on this date. b and C decide to share future profits and losses in the ratio of 2:1.Give Neccessary journal entries.
If this expected level of production and sales occurs and plant expansion is not needed, how should this increase affect next year's total amounts for the following costs.
Carin, a widow, elected to recieve the proceeds of a $100,000 life insurance policy on the life of her deceased husband in 10 installments of $15,000 each. Her husband had prepaid premiums of $75,000 on the policy. In the first year, Carin collect..
Include a discussion about problem areas that could arise, assuming that you will eventually have many more clients and several more employees.
why should caledonia focus on project free cash flows as opposed to the accounting profits earned by the project when
Equestrain Roads sold $50,000 of goods and accepted the customer's $50,000 10% 1-year note receivable in exchange. Assuming 10% approximates the market rate of return, what would be the debit in this journal entry to record the sale?
Rampart Hospital has total variable costs of 90% of total revenues and fixed costs of $50 million per year. There are 50,000 patient-days estimated for next year. What is the average daily revenue per patient necessary to breakeven?
Describe in detail an ethical dilemma in business that you or a coworker experienced and how it was resolved.
q1in this area we will discuss the significance of the accounting equation the rules of debit and credit and the steps
Tenika has a $10,000 basis in her interest in the TF Partnership and no remaining precontribution gain immediately before receiving a current distribution that consisted of $4,000 in money, plastic tubes held in inventory with a $3,000 basis to th..
Classify the following costs as product costs (PC) or period expenses (PE).
on january 1 2008 wilhelm corporation acquired 90 percent of kaiser companys voting stock at underlying book value. the
In January 2011, Post, Inc. estimated that its year-end bonus to executives would be $720,000 for 2011. The actual amount paid for the year-end bonus for 2010 was $660,000.
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