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Question - Abulencia and Daguiso have the following profit and loss agreement: salaries of P30,000 and P45,000 for Abulencia and Daguiso, respectively; a bonus to Abulencia of 10% of profit after salaries and bonus; and interest of 10% on average capital balances of P20,000 and P35,000 for Abulencia and Daguiso, respectively. One-third of any remaining profit is allocated to Abulencia and the balance to Daguiso. If the partnership had a profit of P102,500, how much should be allocated Abulencia?
Prepare an income statement and statement of partners' capital for the year ended December 31, 2019 and a balance sheet at December 31.
On June 30, 2019, What is the total amount of interest income that Kulit should report in its December 31, 2020 December 31, profit or loss?
multiple choice questions in managerial accounting.1. cross functional decision makinga.brings together individuals
The machine's per year fixed cost is $1,800, and its variable cost is $0.50 per unit. Calculate the accounting break-even point on the new machine.
If you wish to avoid the probate process, does your current plan accomplish this? Yes, explain. If no, what will you do now to remedy this situation?
The following responses, A-E, were received from a positive confirmation effort for balance sheet dated December 31, 2013, related to accounts receivable. State for each (a) whether it represents an exception, and (b) how you would clear the exceptio..
Predict future trends in mergers and acquisitions on a global scale over the next decade. Touch on any issue you learned that you deem significant to the issue.
Book Value (Shareholder's Equity) Per share of $15 and net income of $25 million. If the stock is currently trading at $30. The Return on Equity is
For the next fiscal year, you forcast your net income of $75,000 and ending assets of $600,000. What is your net new financing added for next year
What is the value of the implicit call option on the bond? A 7-year maturity convertible bond with a 4% annual coupon on a company
Share capital-ordinary, par value P2; authorized 20,000 shares; issued and outstanding 10,000 shares P 20,000. What amount Highness report as retained earnings
Paul will join companys plan. Paul will be depositing $5,000 each year into an IRA account that pays 5% annually. How much will there be in the account
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