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Partners Alma, Bea and Carla share profits and losses 5:3:2, respectively.
The balance sheet at April 30, 2003 follows:
Cash P40,000
Noncash assets 360,000
Total assets P400,000
Accounts payable P100,000
Alma, capital 74,000
Bea, capital 130,000
Carla, capital 96,000
Total equities P400,000
The assets and liabilities are recorded and presented at their respective fair values. Denise is to be admitted as a new partner with a 20% capital interest and a 20% share of profits and losses in exchange for a cash contribution.
Problem 1: If no bonus nor goodwill is to be recorded, how much cash must Denise contribute?
Using double-declining balance method how much is the 2019 depreciation expense? (Enter only whole dollar values.) Hint: what is the year 2 depreciation amount?
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Assume yield curve is horizontal, with rates expected to remain at current levels on into future. What is the difference between this bond's YTM and its YTC?
you have been hired as a managerial accountant by mr. smith of wilson-west manufacturing a start-up company that
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Find out the balance sheet inventory carrying value. D etermine the amount of the loss. (Input all amounts as positive values. Omit the "$" sign in your response.)
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The Hilltop Corporation is considering (as of 1/1/08) the replacement of an old machine that is currently being used. The old machine is fully depreciated but can be used by the corporation through 2011. If Hilltop decides to replace the old machine,..
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