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Problem 1: Pedro, Quito, Romeo and Sixto are partners, sharing earnings in the ratio of 3/21, 4/21, 6/21 and 8/21. The balances of their capital accounts on December 31, 2010 are: Pedro, P10,000; Quito, P250,000; Romeo, P250,000; Sixto, P90,000. The partners decide to liquidate, and they accordingly convert the noncash assets into cash. After paying the liabilities amounting to P60,000, they have P222,000 to divide. How much cash should Quito receive?
In an report, discuss the major goals of the family and how would they go about achieving each goal. Specific to how they would achieve each goal
Jones Company manufactures a single product and uses process costing (FIFO menthod). The company's product goes through two processing departments, etching and wiring. The following activity was recorded in the etching department during July: Compute..
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unadjusted trial balance office equipment is equal to 6300 and art equipment is 1800 and it all placed in service at november
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