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Question - The partnership of Doctor, Dino, and Dolor has reached an impasse as Dolor is no longer willing to contribute the amount of time and effort to the partnership that he has previously given. The partners share profits and losses in the ratio of 3:4:4, respectively. The partners have the following capital balances prior to Dolor's withdrawal from the partnership: Doctor - P45,000; Dino - P35,000; Dolor - P25,000. If Dino purchases Dolor's interest for P32,000 and no asset revaluation is recorded, compute the balance of Dino capital immediately after the withdrawal of Dolor?
Based on a 360- day year, the proposed relaxation of credit standards would result in an expected increase in the accounts receivable balance of
At the time of delivery the index was 132.0. Compute the final contract price?
Find The budgeted total sales for April is. Production and sales estimates for April are as follows Estimated inventory (units), April 19,000
According to a summary of the payroll of Scotland Company, $450,000 was subject to the 7.0% social security tax and $500,000 was subject to the 1.5% Medicare tax. Federal income tax withheld was $98,000. Also, $15,000 was subject to state (4.2%) and ..
In relation to adjusting entries and the estimates used in them. How can you be assured that financial statements are accurate? What steps can be taken to make sure that the estimates are as accurate as possible?
Wilson Company is considering replacing equipment which originally cost $500,000 and which has $460,000 accumulated depreciation to date. A new machine will cost $790,000. What is the sunk cost in this situation?
Journalize the entries to record the investments of Keene and McKee in the partnership accounts. Prepare a balance sheet as of March 1, 2014, the date of formation of the partnership of Keene and McKee.
Describe the style of grandparenting you will make and the dimensions which is important to you
Prepare a statement of cost of goods manufactured for the month of July and prepare a schedule to compute the prime cost incurred during July.
Wing are several figures reported for Allister and Barone as of December 31, 2015: Allister Barone Inventory $ 530,000 $ 330,000 Sales 1,060,000 860,000 Investment income not given Cost of goods sold 530,000 430,000 Operating expenses 245,000 315,000..
Journal entries for estimated bad debts provision and provide the entry for estimated bad debts assuming that the allowance is to provide for doubtful accounts on the basis of (a) 4% gross accounts receivable and (b) 1% of net sales.
Thomason Air uses two measures of activity, flights and passengers, in the cost formulas in its budgets and performance reports. The cost formula for plane operating costs is $36,300 per month plus $2,070 per flight plus $1 per passenger. The activit..
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