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MacDuff and MacBeth recently formed a partnership called Inverness Ltd. MacDuff invested $30,000 cash, and MacBeth invested $30,000 of plant assets and $15,000 cash. The partners are trying to find an equitable way of splitting the income to take into account that MacBeth invested more capital, but MacDuff will spend twice as much time as MacBeth in running the business. They have asked you to develop a worksheet to allow them to see the effect of: - various interest rates on invested capital - various salary allowances for time spent - various levels of partnership net income The easiest way to achieve this flexibility is to use a Data Section. Use the following information as input for your model: Net Income - 125,000 Division of net income: Interst on orginial investment at - 15% Salary allowances: MacDuff - 50,000 MacBeth - 25,000 Remainder shared equally Check figure: MacDuff's share of income is $73,875
Compute Welch's gross pay, payroll deductions, and net pay for the full year 2012. Round all amounts to the nearest dollar. Compute United's total 2012 payroll expense for Welch.
angela peters practiced law with a partnership for 10 years. recently she opened her own law office which she operates
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ace custom boats built and delieverd a boat titanic to a customer during . the boat required materials costing 40000
Assuming that the company's $337,485 ending Finished Goods Inventory account for year 2011 had $137,485 of direct materials costs, determine the inventory's direct labor costs and its overhead costs.
willow creek corporation bases its predetermined overhead rate on the estimated labor hours for the upcoming year. at
Prepare the journal entries for these transactions, assuming that the common stock has a par value of $3 per share. Prepare the journal entries for these transactions, assuming that the common stock is on-par with a stated value of $2 per share.
tabletop ranches inc. is considering the purchase of a new helicopter for 350000. the firms old helicopter has a book
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visible fences is introducing a new product and has an unexpected change in net operating income of 875000. visible
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