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Zilky and Justin formed a partnership on December 31, 2013. Zilky contributed $50,000 cash and accounts receivable with a fair market value of $10,000. Justin's investment consisted of: cash, $5,000; inventory, $34,000; and supplies, $1,000-all at fair market values. Profit for 2014 and 2015 was $50,000 and $65,000, respectively.
Question 1: Calculate the allocation of profit for 2014 and 2015, assuming profits are divided as follows:
(A) The partners have no agreement.
(B) Based on a 1:3 ratio.
(C) Based on the ratio of the partners' original investments.
Paxton Company can produce a component of its product- Compute the net incremental cost or savings of buying the component.
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les fleurs a boutique in paris france had the following accounts in its accounting records at december 31 20x2 amounts
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Orange Inc. offers a discount on an extended warranty on its iPhone when the warranty is purchased at the time the iPhone is purchased. The warranty normally has a price of $150, but Orange offers it for $120 when purchased along with an iPhone.
review whole foods market incs 2010 annual report company information and investor informationsee the link whole foods
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When Resisto Systems, Inc., was formed, the company was authorized to issue 5,000 shares of $100 par value, 8 percent cumulative preferred stock, and 100,000 shares of $2 stated value common stock. Prepare the stockholders' equity section of the comp..
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