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Meir, Zarcus, and Ross are partners and share income and loss in a 1:4:5 ratio. The partnership's capital balances are as follows: Meir, $43,000; Zarcus, $179,000; and Ross, $228,000.Potter is admitted to the partnership on February 1 with a 25% equity. Prepare journal entries to record Potter's entry into the partnership under each of the separate assumptions,Potter invests $196,000,how much will be credited to Meir, Zarcus,and Ross's capital accounts in the general journal?
The lease contract calls for annual (prepaid) rental payments of $80,000 on each July 1 throughout the life of the lease and for the lessee to pay for all additions and improvements to the leased property.
Salter Inc.'s unit selling price is $50, the unit variable costs are $35, fixed costs are $125,000, and current sales are 10,000 units. How much will operating income change if sales increase by 5,000 units?
how do i create a financial statement or document that a business might use to account for losses damaged goods and
loreal-american corporation purchased several marketable securities during 2013. at december 31 2013 the company had
AVPR Company sets up a qualifying SPE to sell their accounts receivable (A/R) to the SPE. The SPE meets the unconsolidated requirement under GAAP. The most likely outcome of using the SPE by AVPR will be to:
the following information pertains to family video company. cash balance per bank july 31 7865.83. july bank service
ptarmigan company produces two products. product a has a contribution margin of 20 and requires 4 machine hours.
What is the markup on variable costs needed to obtain a target profit of $75,000?
In 2009, Mark has $18000 short-term capital loss, $7000 long term gain, and $6000 long term gain. Which of the statements below is correct?
petes pet products is a sole proprietorship owned by pete thompson. the store provides a full-line of pet products
What is the minimum amount that the company should pay in order to achieve its objectives - Buckskin also has had 100,000 shares of $10 par value common stock issued and outstanding since 1998.
Explain the following in a memo to your instructor. The comparative advantages and disadvantages of ideal versus normal standards.
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