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Liquidating partnerships
Prior to liquidating their partnership, Fowler and Ericson had capital accounts of $26,000 and $40,000, respectively. Prior to liquidation, the partnership had no cash assets other than what was realized from the sale of assets. These partnership assets were sold for $86,000. The partnership had $12,000 of liabilities. Fowler and Ericson share income and losses equally. Determine the amount received by Fowler as a final distribution from liquidation of the partnership.
Lombardi Company has a unit selling price of $400, variable costs per unit of $240, and fixed costs of $180,000. Compute the break-even point in units using.
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cartwright inc. has 1000000 of 10 percent bonds outstanding on december 31 20x8. on 1st january 20x9 adam corp. an
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