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Distribution of cash upon liquidation
Deacon, Raines, and Francis arranged to import and sell orchid corsages for a university dance. They agreed to share equally the net income or net loss of the venture. Deacon and Raines advanced $300 and $450 of their own respective funds to pay for advertising and other expenses. After collecting for all sales and paying creditors, the partnership has $1,800 in cash.
a. How should the money be distributed?
b. Assuming that the partnership has only $600 instead of $1,800, do any of the three partners have a capital deficiency? If so, how much?
During March, it made 5,000 service calls. How much will Byters on Call’s profit increase if 160 more service calls are made?
At year-end, Sherman stock was selling for $34.80 per share. Prepare Fairbanks journal entries to record (a) the purchase of the investment, (b) the dividends received, and (c) the fair value adjustment.
Preparation of Cash Budget and interpreting the cash position of the company
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In year 2, ignoring utility costs altogether, how many additional units must be sold just to pay for this added $300,000/yr. expense in added administrative salaried headcount?
Describe why an equal percentage increase (or decrease) in sales for each firm would have such differing effects on operating income. Evaluate the ratio of contribution margin to operating income for each firm in 2008. (Hint: Divide contribution..
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a city orders a new computer for its general fund at an predictable cost of 88000. its actual cost when received is
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Use the contribution margin approach to evaluate Peyton Travel's new break-even point in tickets sold. How does this compare to your answer in part
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