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Jacob Boling and Harlan Bishop, with capital balances of $43,000 and $57,000, respectively, decide to liquidate their partnership. After selling the noncash assets and paying the liabilities, there is $76,000 of cash remaining. If the partners share income and losses equally, how should the cash be distributed?
1.describe the main difference between financial accounting and managerial accounting.2.list 3 different users
You are considering opening a kiosk in themall that will sell customizable aprons. You need to borrow money fromt eh bank to get the business started and estimate that you will need approximately $20,000. Calculate the estimated profit of your comp..
gianna tuck is an accountant for post pharmaceuticals. her duties include tracking research and development spending in
The required return on Avondale stock is 15 percent. If you want only $225 total in dividends the first year, what will your homemade dividend be in two years.
Distinguish between the two categories of adjusting entries, and identify the types of adjustments applicable to each category.
Assume a Tiger Sports outlet store began July 20, 2012 with 40 pairs of running shoes that cost the store $ 32 each. The sale price of these shoes was $66. During July, the store completed these inventory transactions.
If a gain of $18,000 is incurred in selling (for cash) office equipment having a book value of $120,000, the total amount reported in the cash flows from investing activities section of the statement of cash flows is:
The shareholders equity section of Rowen Company shows: Common stock $1,500,000; paid-in capital in excess of par value of $1,000,000;
Prepare an income statement for Wayside Inc. for the year ended December 31, 2010. (List multiple entries from largest to smallest amounts, e.g. 10, 5, 1.)
disk city inc. is a retailer for digital video disks. the projected net income for the current year is 2380000 based on
Assuming that the US Corp. has a December 31 year end, prepare the necessary journal entries to account for the series of transactions involving the purchase.
R-Ball is considering switching from one overhead rate based on labor hours to activity-based costing. Using activity-based costing, how much assembly cost is assigned to deluxe racquets?
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