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Question - AB partnership had a net income of P24,000 for the month ended September 30, 2020, Calvin purchased an interest in the AB partnership of Andres and Beltran by paying Andres for half of his capital and half of his 50% profit sharing interest. At this time, the capital balance of Andres was P96,000 and the capital balance of Beltran was P168,000. How much should be received by Calvin as credit to his Capital account?
Do liabilities of an S corporation affect the basis of a shareholder's stock in the same manner as partnership liabilities affect the basis of a partner's partnership interest? Explain.
medtrans is a profitable firm that is not paying a dividend on its common stock. james weber an analyst for a. g.
kansas industries makes soy oil and soy meal from soy in a joint process. the soy oil can be further processed into
What was the total amount of capital assets used in governmental activities added during the year? What was the amount retired
debra works on the assembly line of a manufacturing company where she installs a component part for one of the companys
Compute ROI, using net book value for each year. Compute ROI, using gross book value for each year.
All inventories are costed by the first-in, first-out method. What are the equivalent units for conversion costs under the FIFO method
During 2020 Bridgeport produced 216,000 units using its machinery. Calculate the 2020 depreciation for each of the property, plant & equipment items.
What are the main synergies (positive and/or negative) expected from the Red Hat acquisition by IBM? The response must be typed.
Accumulated depreciation $40,400 Estimated useful life 8 years. Determine the cash payback period (Ignore income taxes)
Determine the earnings per share for 2012 and 2011. Does the change in the earnings per share from 2011 to 2012 indicate a favorable or an unfavorable trend
flower city cartridges fcc manufactures replacement cartridges for desktop printers. fcc uses standard costs within a
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