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Question - The Penn & Teller Partnership reports revenue of 82,000 and expenses of 91,000. Palmer salary allowances are Perm $30,000 and Teller $35,000; interest allowances are Penn $8,000 and Teller $4,000; and the remainder is shared 6:4. Prepare a detailed calculation of the division of net income/(loss) to each partner AND prepare the journal entry (a journal entry description is not required) to distribute the net moraine/(loss).
Albacore issued a 10% stock dividend on June 30, 2009. On September 30, 2009, 12,000 shares of common stock were reacqured as treasure stock. What is the appropriate number of shares to be used in the basic earning per share computation for 2009?
marksbury company is recording a loss in value of its trading securities. the entry to record this change in value
Dunn Corporation's taxable income is less than $40,000. The corporation is not eligible for the AMT small corporation exemption. The CPA preparing the return does not calculate the AMT because he knows that taxable income is less than the AMT stat..
smith and jones each own tracts of land. because of the location of their current operations each would prefer to have
the shoe outlet has paid annual dividends of 0.65 0.70 0.72 and 0.75 per share over the last four years respectively.
nancy tercek the financial vice president and margaret lilly the controller of romine manufacturing company are
Barr & Eglin Co. reports net income of $42,000. Compute the amount of net income distributed to each partner
Do a General ledger account - Create a Provision for Dividends OF 15 Cents per share. There are 7,500,000 shares issued
Compute the value of goodwill to be recorded on the books of Blue Grass Company upon the purchase of the business.
Regarding the gift splitting provision of 2513, comment on the following.
The rules related to the fair value option are included in ASC 825-10 Financial Instruments - Overall. What are the principal objectives of these disclosures
a kubota tractor acquired on january 9 at a cost of 75000 has an estimated useful life of 20 years. assuming that it
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