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Problem - Profit Distribution - Ables and Galang divide partnership profit and losses solely on the basis of their average capital balances. Ables had P275,000 invested during all of 2019; Galang had P200,000 invested from January 1 to August 31, and he invested another P75,000 on September 1. If profit was P800,000 during 2019, how much should each partner receive?
What is "The Principle of Charity"? In at least a paragraph, discuss a time that someone did not extend the principle of charity to you or that you did not.
Prepare the relevant journal entries of the land and building from year 2016 to 2019 in the account of Viga Berhad and its group
Explain the term 'depreciation expense' using any practical example.Who owns the company? In what ways do they gain ownership?
GameKing Inc. Issues $25,000,000, 7.8%, 20-year bonds to yield 8% on January 1, 2016. What will the carrying value of the bonds be on the December 31, 2017
What is the depreciation expense for the current year assuming the company uses the double-declining-balance method of depreciation
Which hold a combined market share of 33 percent. Outline some developing interrelationships which are impacting on the financial services sector.
the following is a simplified project annual income statement for ma amp pa incorporated for each year of an
What journal entry would be made for the payment of interest (ignore the dollar amount - just account title(s) and debit/credit).
tri state pickle company preferred stock pays a perpetual annual dividend of 2 12 of its par value. par value of tsp
On August 31, a 10% stock dividend was declared and distributed. What is the balance in Common Stock appearing on the statement of stockholders' equity on December 31?
Three years later, the stock becomes worthless. How will the loss be reported on Laurel's individual tax return
The company also borrowed an additional $7,600 from the bank. What was total assets on ABC's balance sheet at the end of the year
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