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Assuming two partners, Beth and Scully are to be allowed salary allowances of $80,000, for Beth and $78000 for Scully; and that interest at 5% is to be allowed on beginning capital; and finally that the balance if any, is to be distributed equally. Beginning Capital Account Balances for Beth is $300,000 and Scully is $700,000.
Prepare a worksheet to determine the division of net income if the net income was (a)$200,000 / (b)$300,000
Impairments are: a) recognized as a realized loss if the impairment is judged to be temporary. b) based on fair value for available-for-sale investments and on negotiated values for held-to-maturity investments.
Ruby's expects to collect 30% of the sales dollars in the month of the sale and 70% in the month following the sales.
Calculate the amount of the final price adjustment because of defective pricing based on the Contractor unintentionally overpriced their material costs by $75,000 and under-priced their direct manufacturing labor costs by $50,000. Overhead rates u..
Lewis Company needs to determine the variable utilities rate per machine hour in order to estimate cost for August. Relevant information is as follows.
Soap Corporation issued a $350,000, 6% 15-year mortgage note to obtain needed financing for new office. The terms of the note call for semiannual payments of $17,857 each. Prepare the entries to record the mortgage loan and the first installment.
What is a break even point? a) The level of operations at which a business revenues exceeds the budget. b) The level of operations at which the business will be able to break into a new market
The probability of throwing any two numbers on a die - say, either a 1 or a 2 - on a single throw is one chance out of three, or 33%.
Could a company lose to a competitor if they do not have real time online perpetual inventory records to provide answers to customers that are trying to place an order?
January $25,000; March, $5,000. For the fiscal year ended 12/31/08, what amount should be recognized as property tax revenues related to the 2007 levy on the governmental fund financial statements?
Ganzalez, Inc., manufactures stereo speakers in two factories: one in Vandalia, Illinois and another in Modesto, California. The Vandalia factory uses DL$ for its overhead rate and the Modesto factory uses machine-hours (MHs) for its overhead rate..
A golfer's tee shot follows a path given by y = 64t - 16t^2, where y is the height of the ball (in feet) after t seconds of flight. Halfway through its flight, the golf ball reaches the highest point of its trajectory. How high is that?
Monterey Corporation is considering the purchase of a machine costing $52,000 with a 4-year useful life and no salvage value. Monterey uses straight-line depreciation and assumes that the annual cash inflow from the machine will be received unifor..
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