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On December 31, the partnership accounts of Tresmond, Wanda and Tuda who share profits and losses in the ratio2:5:3 follows: Tresmond, Drawing (credit) P5,000; Tresmond, Capital P48,000; Wanda, Drawing (debit) P10,000; Wanda, Capital P64,600; Tuda, Capital P55,000; Due from Wanda P8,000; Due to Tuda P8,000. Total partnership assets on this day stands at P231,000 including cash of P74,000. The partnership is liquidated and Tresmond ultimately receives P45,000 in final liquidation.
Problem 1: How much is the total loss on realization of the partnership?
Problem 2: Using data in number 5, how much will Tda receive on the final liquidation?
An investor is in the 32% tax bracket and holds municipal bonds with an 4% yield-to-maturity. What is the equivalent taxable yield
A company's gross profit was $88,890 and its net sales were $366,100. Its gross margin ratio equals: (Round your answer to one decimal place.) rev: 09_29_2015_QC_CS-27471
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Joint-cost allocation. Clover Dairy Products Corp. buys one input, full-cream milk, and refines it in a churning process. From each gallon of milk Clover produces three cups of butter and nine cups of buttermilk. During May 2014, Clover bought 12,000..
Regulation of the Audit Profession and reporting Financial Performance
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Sunwood Company issued $500,000 of 6%, 5-year bonds at 98, which pays interest annually. Assuming straight-line amortization, what is the carrying value of the bonds after one year?
Make a cash budget for the month of july 2020 using the heading provided. All purchases of stock are paid for one month after the purchase.
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