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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
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 liabiities.
Required - Prepare working paper for the statement of Liquidation.
Owner Lei Wong is considering franchising her Global Chopsticks restaurant concept. Find a franchisee's breakeven sales in dollars
Answer the following questions based on Scottsdale, AZ CAFR year ending June 30, 2012.
Compute the margin of safety ratio for current operations and after Mary's changes are introduced (Round to nearest full percent)
during the current year the harlow corporation which specializes in commercial construction has the following property
You are reviewing the books and records of a local restaurant trying to determine the reliability of the reported income.
Ritter paid costs directly related to issuing these bonds of $80,000. Ritter reports under IFRS. What is the amount of net proceeds received
What is the future value of annual payments of $2,947 for 15 years at 6 percent?
You recently landed your dream job working for the state as an accountant. You are given the task to research several state and local governmental financial accounting issues.
The company CFO would like you to research the issue to provide an authoritative answer. Discuss how the change will increase sales revenue and its benefits
Globalization is recognized by all as a force for good in the U.S. economy
a project will require an initial investment of 400000 and will return 100000 each year for six years. if taxes are
a company had inventory of 10 units at a cost of 20 each on november 1. on november 2 it purchased 10 units at 22 each.
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