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Mack, Harris, and Huss are dissolving their partnership. Their partnership agreement allocates income and losses equally among the partners. The current period's ending capital account balances are Mack, $15,000, Harris, $15,000, Huss, $(2,000). After all the assets are sold and liabilities are paid, but before any contributions to cover any deficiencies, there is $28,000 in cash to be distributed. Huss pays $2,000 to cover the deficiency in his account. The general journal entry to record the final distribution would be?
internal controls are designed to safeguard assets encourage employees to folllow company policies promote operational
How are accounting numbers used to monitor this agency contract between owners and managers? Evaluate management's incentives to choose FIFO. Evaluate management's incentives to choose LIFO.
Discuss the differences between the indirect and direct methods of preparing the statement of cash flows. What do you believe are the most significant advantages and disadvantages of using each method? Explain your reasoning.
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Round-robin brainstorming can be a good technique. Let's say that we were going to incorporate this technique for a brainstorming session for a new client. You're in charge of creating the agenda and contacting the people who will attend the meeti..
stewie loaned a friend 12500 to buy some stock 3 years ago. in the current year the debt became worthless. a. how much
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