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Bench, Mark, Spencer, and Lee are partners, sharing earnings in the ratio of 3:4:6:8, respectively. The balances of their capital accounts on December 31, 2019 are as follows:
Bench - P 1,000
Mark - P 25,000
Spencer - P 25,000
Lee - P 9,000 The partners decide to liquidate, and they accordingly convert the non-cash assets into P 23,200 of cash. After paying the liabilities amounting to P 3,000, they have P 22,200 cash to divide. Assume that a debit balance of any partners' capital is uncollectible. Question 1. How much is the cash balance before realization? Question 2. How much is the share of Bench in the loss upon conversion of the non-cash assets into cash?
What is the balance of the projected benefit obligation as of December 31, 2019? The Marino Company has provided pertaining to its defined
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When managing the performance of an organization, Define and provide an example of each of the financial information and non-financial information
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For each transaction, indicate the effect on each account in the balance sheet and income statement. Use + for increase and - for decrease.
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Excess of proceeds over cost of treasury shares sold, In its December 31, 2014 financial position, what amount should Milan report as Accumulated Profits?
Gorry Company's management has found that every 6% increase in the selling price of one of the company's products leads to a 10% decrease in the product's total unit sales. The product's absorption costing unit product cost is $12. According to the f..
If the management of KTL would like to use the parent company extension theory, what is the NCI for the consolidated balance sheet at t=0?
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