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Question - Steve Conyers and Chelsy Bernard formed a partnership, dividing income as follows:
1. Annual salary allowance to Conyers of $105,600.
2. Interest of 5% on each partner's capital balance on January 1.
3. Any remaining net income divided to Conyers and Bernard, 1:2.
Required - Conyers and Bernard had $72,000 and $93,000, respectively, in their January 1 capital balances. Net income for the year was $192,000. How much is distributed to Conyers and Bernard?
Jim is a department manager at a local department store. He took statistics and operations management in college and has recently forecast sales of toasters using a combination of forecasting methods and his expertise/experiences as below
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The popular response encouraged him to create a website and start a mail-order business. He outsources some of the printing responsibilities, and hired someone part time to help him ship out his work to website-based customers.
As has already been mentioned in this thread, the NPV - one of the most recommended tools of traditional capital budget analysis
Samantha Exchanges a truck used in her business with Phyllis for another truck, What is Samantha's adjusted basis in the new truck she receives
(Comprehensive Income) C. Reither Co. reports the following information for 2004: sales revenue $700,000; cost of goods sold $500,000; operating expenses $80,000; and an unrealized holding loss on available-for-sale securities for 2004 of $60,000.
debate the necessity of preparing formal financial statement if all of the data are in the statement columns of the
What aspects of the requirements were used by US companies to defer recognition of a liability - Explain why principles-based standards require a conceptual framework.
Describe and define four of the seven general moral principles, and explain how the moral principles you chose, could improve an organizations' ethical climate. Please provide examples to support your statements.
The projected income statement was based on sales of 100,000 units. Calculate the contribution margin per unit and contribution margin ratio
clear sky sailmakers manufactures sails for sailboats. the company has the capacity to produce 15000 sails per year but
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