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1. Lowery, Keegan, and Feeney have income ratios of 5:3:2 and capital balances of $34,000, $31,000, and $28,000, respectively. Noncash assets are sold at a gain. After creditors are paid, $109,000 of cash is available for distribution to the partners. How much cash should be paid to Keegan?
needles co. begins operations in january 2010 as a retailer of widgets. its purchases and sales during the first
A company's Cash account has a balance of $851 as of October 31. The bank statement for this account reports a balance of $1,430 as of October 31. There are outstanding checks totaling $840 and a deposit in transit of $60.
Identify the financial statement on which each of the following items would appear
osawa inc. planned and actually produced 200000 units of product in 2012 its first year of operations. variable
Ditto received a $90,000 cash advance on March 1, 2013, for legal services to be performed in the future. Services were to be provided for a one-year term beginning March 1, 2013.
on january1 2004 abc company purchased equipment for 98000. the equipment was assigned a 12-year life a 14000 residual
the standard cost of product b manufactured by mit company includes 3.00 units of direct materials at 5.00 per unit.
the atlantic company sells a product for 150 per unit. the variable cost is 60 per unit and fixed costs are 270000.
on februrary 182011 union corporation purchased 10000 shares of ibm common stock as a long-term investment at 60 per
matrix accounting pays all salaried employees biweekly. overtime pay however is paid in the next biweekly period.
the bank is offereing a savings plan as follows the initial yield is 2.21 apy. if you maintain your account for at
what is the fsab codification for net operating loss? i have to write a paper on how it is handled on the financial
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