Reference no: EM132813343
The statement of financial position of Twin Seas Company, a partnership, showed the following accounts and their balances on January 1 and December 31, 2020.
Cash
Jan 1 - 42,800
Dec 31 - 50,200
Accounts Receivable (net)
Jan 1 - 43,100
Dec 31 - 65,000
Inventory
Jan 1 - 20,200
Dec 31 - 59,000
Accounts Payable
Jan 1 - 12,000
Dec 31 - 15,000
Salaries Payable
Jan 1 - 5,000
Dec 31 - 8,500
Problem 1: During the year 2020, the owners of Twin Seas made additional investments for a total of P55,000 and withdrawals amounted to P30,000. How much is the profit of Twin Seas for the year 2020?
|
Explain government expenditures and government purchases
: 1. What is the difference between government expenditures and government purchases? How do the two variables differ in terms of their effect on GDP?
|
|
What is the value of the savings bond
: What is the value of the savings bond at the end of year five? Grand Opening Bank is offering a one-time investment opportunity for its new customers
|
|
What external revenue of reportable operating segments must
: What External revenue of reportable operating segments must be at least? Regent Company, a publicly owned entity, is subject to the requirements
|
|
Compute debt-gdp ratio
: Suppose a country has a national debt of $5,000 billion, a GDP of $10,000 billion, and a budget deficit of $100 billion.
|
|
How much is the profit of twin seas for the year
: Twin Seas made additional investments for a total of P55,000 and withdrawals amounted to P30,000. How much is the profit of Twin Seas for the year 2020?
|
|
Explain main points of the naeyc position statement
: What is the position of National Association for the Education of Young Children (NAEYC) regarding diversity and culture and developmentally appropriate.
|
|
Compute the amount of accumulated other comprehensive income
: On January 1, 2020, Zhang Inc. had cash and share capital of 5,000,000. Compute the amount of accumulated other comprehensive income
|
|
How much is the total current assets
: How much is the total current assets? Accounts receivables (net of P20,000 credit balance in accounts)- P80,000.Cash Equivalents- P20,000
|
|
Describe the disadvantages of nonevaluators
: Discuss the advantages and disadvantages of nonevaluators in the role of internal evaluators. Analyze how the use of nonevaluators would affect your evaluation.
|