Already have an account? Get multiple benefits of using own account!
Login in your account..!
Remember me
Don't have an account? Create your account in less than a minutes,
Forgot password? how can I recover my password now!
Enter right registered email to receive password!
Abe and Brenda formed the AB Partnership ten years ago as a general partnership and have been very successful with the business. However, in the current year, economic conditions caused them to lose significant amounts, but they expect the economy and their business to recover and return to profitable operations by next year or the year after. Abe manages the partnership and works full time. Brenda has a full time job as an accountant at an annual salary of $39,000, but she also works in the partnership occasionally. She estimates that she spent about 120 hours working in the partnership this year. Abe has a 40% profits interest, a 50% loss interest and a basis in the partnership interest on December 31st. The partnership has no liabilities at December 31st. Neither Abe nor Brenda currently has other investments. The AB Partnership incurs the following amounts during the year.
Please discuss the value of the accounting cycle to the including:
Traded the old company equipment for a new truck issuing a check to complete the transaction. The old used truck cost $3,800 and on September 30, the end of the quarter, had depreciated $2,200.
In its Statement of Net Assets, a government reported: Assets of $90 million, including $30 million in capital assets (net) and liabilities of $50 million, including long-term debt of $15 million, all related to capital asset acquisition.
Upon examining the balance sheet of a large city, you notice that the total assets of the general fund far exceed those of the combined total of the city's ten separate special revenue funds.
hurlex company produces a single product. last yarhurlex manufactured 15000 units and sold 12000 units. production
Calculate ending inventory, cost of goods sold, gross profit, and gross profit rate under each of the following methods.
If you could pick a single source of cash for your business, what would it be? Why? How can a business earn large profits but have a small balance in Retained Earnings? How can a business lose money for many years and still have plenty cash?
What are the issues related to goodwill valuation when comparing partnerships formation with companies consolidations?
On the Milan bourse, Fiat stock closed at EUR14.67 per share on Tuesday, February 26, 2008. Fiat trades as and ADR on the NYSE. One underlying Fiat share equals one ADR. On February 26, the $/EUR spot exchange rate was $1.4889/EUR1.00.
If fixed costs are $561,000 and the unit contribution margin is $8.00, what is the break-even point in units if variable costs are decreased by $.50 a unit?
Susan sweets is a 40 percent shareholder in acclaim inc. a theatrical supplies company. She transfers a fully depreciated car with a value of $2,000 to the corporation, dut does not receive any consideration for it.
A manufacturing company has a small production line dedicated to the production of aparticular product. The line has four stations in serial. Inputs arrive at station 1 and theoutput from station 1 becomes the input to station
Get guaranteed satisfaction & time on delivery in every assignment order you paid with us! We ensure premium quality solution document along with free turntin report!
whatsapp: +1-415-670-9521
Phone: +1-415-670-9521
Email: [email protected]
All rights reserved! Copyrights ©2019-2020 ExpertsMind IT Educational Pvt Ltd