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Espinas and Flores are partners who share profits and losses in a ratio of 2:3, respectively. They have the following capital balances on December 31, 2016:
Espinas, Capital ??P100,000 creditFlores, Capital ???P150,000 credit?The partners agree to admit Gonia to the partnership. Required:
Problem (a) Calculate the capital balances of each partner. Record bonuses by preparing a bonus schedule, when appropriate, and
Problem (b) Prepare the necessary journal entries.
a. Gonia paid Espinas P50,000 for 40% of his interest.b. Gonia invested P50,000 for a 25% interest in the partnership.c. Gonia invested P50,000 for a 15% interest in the partnership.
Stanley Company adds materials at the begining of the process in Department M. Data concerning the materials used in the March production follows: Using the average cost method, what are the equivalent units for the materials unit cost calculations a..
4.75% per year over the past 10 years. The beta for Brat is 1.25. Is Brat Inc. overvalued or undervalued? Would you purchase the stock?
the subsequent accounts are denominated in pesos as of 31st december 2013. for reporting purposes these amounts need to
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At what level of L does diminishing returns set in? At what level of L does the marginal product equal the average product?
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Briefly explain the difference between adjusting entries and entries that would be made to correct errors. Journalize the adjusting entries required at December
TCOs 1, 8, and 9) Copper Corporation owns stock in Bronze Corporation and has net operating income of $900,000 for the year. Bronze Corporation pays Copper a dividend of $150,000. What amount of dividends received deduction may Copper claim if it own..
If the asset revaluation method is used, what is the capital balance of Ditas immediately after the retirement of Diaz
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