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Question - Romeo, Sally and Tito are partners having capitals of P64,000, P80,000, and P56,000, respectively. They share earnings as follows:
Romeo 30%
Sally 40%
Tito 30%
100%
They sold their non-cash assets for a lump sum of P280,000, which increased the firm's cash to P300,000. It was agreed by the partners that half of the gain be first credited to Tito and the remaining gain on realization would then be divided among the three of them. There are no liabilities.
Required - Make Working paper for the statement of Liquidation.
What is the motivation for violating the generally accepted accounting principle of matching revenues and expenses? What is the result of committing this fraud?
The Bishoftu town total appropriations for the year 2011 E.C. are ETB 85,000,000 as follows; Record the appropriations of Bishoftu town on General Ledger
Assume that 550 units were worked on during a period in which a total of 500 good units were completed. What is the cost of the good units produced
Calculate the Acid-test ratio using financial ratios for Walmart (the Years of 2018). You can search the financial statement through (sec) online.
the following is a description of ordering food through find your food.the customer uses their computer to go to the
What is a difference between the organizational structure of private equity funds and hedge funds?
Are integrated with the financial accounting system. Enable governments to demonstrate compliance with laws and to communicate performance effectiveness
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Calculate the resulting ending balance of the Allowance account based on the account aging
firm a makes and sells motorcycle. the total cost of each cycle is the sum of the cost of frames assembly and engine.
Christina is single with 12 year old daughter who lives with her. She is under 65 years of age and does not itemize her deductions. What is total federal tax
Examine the impact of cyberattacks on potential investors in a public company. Provide support for your recommendation
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