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X y and z are partner in a firm sharing profit in the ratio of 2: 2:1 according to partnership agreement z has to get a minimum of 12000 irrespective of the firm any excess payable to z account of such a guarantee shall be borne by x.
Problem 1: Prepare the profits and loss appropriation account showing the distribution of profit among the partner in case the profit for the year 2017 -18 are 278000 and amount of 23000 paid to z during the year.
The long-term liabilities section of Guyton Enterprises follows. The bonds outstanding on January 1, 20-1, Compute the cash received from issuing the bonds
P2,400 of service revenue was not accrued. What should be the correct net income if the incorrect net income was P40,000
The manager told you that your primary task is to advise what type of costing system is appropriate for the business. What is answer to the manager's question?
Annapolis Corporation's trial balance included debits to expense accounts of $165,000, what is the amount of the company net income or loss
In an exchange qualifying for Sec. 351 tax-free treatment, Greta receives 100 shares of White Corporation stock plus a right to receive another 25 shares.
Retained Earnings, December 31 (Prior Year............ $250,000. Compute the retained earnings for the current year
Silver Company makes a product that is very popular as a Mother's Day gift. Prepare a schedule of expected cash collections from sales
An analysis of similar products on the market suggests a price of $123.00 per unit. How much is the target cost per unit
Compose an essay that identifies how information technology is utilized within the accounting function. In your essay, identify where you feel the accounting function will be in the next ten years.
Explain the need for full disclosure in financial reporting
What is net income for 2015? What is the operating cashflow for 2015? What is the cash flow from assets for 2015? is this possible? Explain.
On July 1, 2013, Stateside, Inc. issues 10,000 shares of $5 par value preferred stock at $50 cash per share and 20,000 shares of $1 par value common stock at $25 cash per share. What is the journal entry to record these transactions?
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