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Baggetta and Cohen have capital accounts of $20,000 and $40,000, respectively. The part ners divide net income in the following manner:
(1) Salaries of $10,000 to Baggetta and $12,000 to Cohen.
(2) Each partner receives 5% on his capital investment.
(3) The balance is divided in the ratio of 1 :2.
Determine the division of net income if net income is (a) $34,000; (b) $22,000.
Compute the following items for the statement of cash flows: Beginning and ending Plant Assets, Net, are $99,000 and $92,000, respectively. Depreciation for the period was $11,000, and purchases of new plant assets were $23,000. Plant assets were sol..
What is their child and dependent care credit? Please show your calculations and explain. Be sure to consider any and all limitations on the credit allowed.
The United States has some of the most lenient bankruptcy laws in the world toward debtors (at least for business-owning debtors). Do you think this is a good system? Why or why not?
The board of directors of Green declared cash dividends of $50,000 in 2011 after paying $20,000 cash dividends in each of 2010 and 2009. What is the amount of dividends common shareholders will receive in 2011?
question when would the balance sheet disclosure arising from the current rate method become realized?a.it is
A foreign subsidiary of a U.S. corporation purchased equipment on January 4, 20x1. (A) How would depreciation expense on the equipment be translated for 20x3? (B) How would depreciation expense on the equipment be re measured for 20x3
Journalize the transactions and journalize the adjusting entry to record the accrued interest on December 31 on the Global Company note.
What advantages do you see for classifying interest expense as an investing cash flow rather than an operating cash flow? What is the advantage of classifying it as an operating cash flow? What is the advantage of classifying it as a financing ca..
The following costs are included in a recent summary of data for a company: advertising expense, $100,000; depreciation expense - factory building, $148,000; direct labor, $265,000; direct material used, $315,000; factory utilities, $120,000; and sal..
Please indicate whether these are product or period costs?
Evaluate the most profitable combination of products to be produced next year. Purpose an income statement using the contribution margin format for the product volume computed in 1.
kirkland theater sells season tickets for six events at a price of 252. for the 2010 season 1200 season tickets were
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