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Holly and Luke formed a partnership, investing $240,000 and $80,000, respectively. Determine their participation in the year's net income of $380,000 under each of the following independent assumptions:(a) No agreement concerning division of net income;(b) Divided in the ratio of original capital investment;(c) Interest at the rate of 15% allowed on original investments and the remainder divided in the ratio of 2:3;(d) Salary allowances of $50,000 and $70,000, respectively, and the balance divided equally;(e) Allowance of interest at the rate of 15% on original investments, salary allowances of $50,000 and $70,000, respectively, and the remainder divided equally.
oslo company prepared the following contribution format income statement based on a sales volume of 1000 units the
question a machine is purchased by making payments of 5000 at the beginning of each of the next five years. the
the manager of sensible essentials conducted an excellent seminar explaining debt and equity financing and how firms
The standard costs and actual costs for factory overhead for the manufacture of 2,500 units of actual production are as follows:
Matt Company uses activity-based costing. The company has two products: A and B. The annual production and sales of Product A is 8,000 units and of Product B is 6,000 units. There are three activity cost pools, with estimated total cost and expect..
Colaw Supply purchased machine at a cost of $72,000 on January 2, 2000. It originally had an estimated life of 10-years and a salvage value of $12,000.
Disbursements and withholdings
After using the concession stand for 4 years, Six Flags determines that the building will remain useful for only 2 more years. Record Six Flags' depreciation on the concession stand for year 5 by the straight line method.
a truck contains 150 small packages some weighing 1 kg each and some weighing 2 kg each. how many packages weighing 2
fun inc. has a fully automated production facility in which almost 97 percent of averhead costs are driven by machine
What is the term used to describe the owners equity section of a corporation and Identify the two owners' equity accounts in a corporation and indicate the purpose of each.
an investment of 600000 increased to 1000000 over a 5-year period. what was the rate of return on the
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