Already have an account? Get multiple benefits of using own account!
Login in your account..!
Remember me
Don't have an account? Create your account in less than a minutes,
Forgot password? how can I recover my password now!
Enter right registered email to receive password!
Question - On February 14, AA and BB formed a partnership and contributed the following assets at historical costs:
AA
BB
Cash
P600,000
P200,000
Inventories
?
Furniture and fixtures
40,000
Delivery equipment
80,000
Land
300,000
The land was subject to a mortgage which has an unpaid balance of P50,000. The mortgage will be assumed by the partnership. AA and BB agreed to share profits and losses in the ratio of 1:2, respectively. The partners agreed to contribute inventories (BB is to contribute inventories worth 2.5 times the peso value of the inventories to be contributed by AA) in order to have their capital credits in the same ratio as their profits and losses ratio.
Required - How much is the capital account of AA upon formation of the partnership?
Obsolescence is an example of which cost category?
Heron Company purchases commercial realty on November 13, 2001, for $650,000. What are the tax consequences of the sale of realty
Identify the type of auditor's report to be issued. Main Insurance is a reporting entity. Ms Pit is the finance director and refuses to adopt AASB
Big Bad Company's stock was trading on the open market for $17.50 per share. Determine the unrealized gain or loss on the investment
Evaluate stakeholder claims and interests and how they may conflict. Use a suitable model to assess various stakeholder interests in the group
After reading and discussing how important it is for auditors to gather evidence to back up client claims, you are now introduced to accounting services where it is unnecessary to verify management's information.
What amount of budgeted labor cost would appear in the July selling, general, and administrative expense budget? What is HDD's budgeted factory labor cost
Calculate the net deduction for unearned premiums if an insurance entity's unearned premium reserve increased from $80,000 to $100,000.
During the current year, the actuary determined the current service cost at P2,500,000. What is the prepaid or accrued benefit cost at year-end
If these units are fully complete by the end of the month, their total cost will be? Marithe Company uses FIFO method in its process costing system.
Harwell Company manufactures automobile tires. Prepare the journal entries to record the sale on July 15 (ignore cost of goods) and payment on August 15, 2011
Discuss what you consider to be the most important factors determining the optimum level of stockholding for the company.
Get guaranteed satisfaction & time on delivery in every assignment order you paid with us! We ensure premium quality solution document along with free turntin report!
whatsapp: +1-415-670-9521
Phone: +1-415-670-9521
Email: [email protected]
All rights reserved! Copyrights ©2019-2020 ExpertsMind IT Educational Pvt Ltd