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Rice, Hepburn, and DiMacro formed a partnership with Rice contributing $60,000, Hepburn contributing $50,000 and DiMacro contributing $40,000. Their partnership agreement called for the income (loss) division to be based on the ratio of capital investments. If the partnership had income of $75,000 for its first year of operation, what amount of income would be credited to DiMarco's captial account?
determine whether each of the following is an internal control strength or an internal control weakness. if weakness
dilts corporation sells three different models of mosquito zapper. model a12 sells for 52 and has variable costs of 44.
Assuming an income tax rate of 40% for all years, the affect of this accounting change on prior periods should be reported by a credit of what?
There are various steps that can be used to reconcile the use of different approaches between the buying and selling divisions
arun company has had poor operating results for the past two years. as the accountant for arun company you have the
in october harry company reports 21400 actual direct labor hours and it incurs 117700 of manufacturing overhead costs.
Under the completed contract method, how much should the company recognize as gross profit for 1993?
John has $55,000 net earnings from the sole proprietorship. John is also employed by a major corporation and is paid $25,000. John' self-employment tax in 2013 is:
Discuss the PEMDAS order of operations in mathematics. What is PEMDAS and why is important to follow it to the letter when conducting mathematical operations?
On December 1, 2011, Barnum Company (a U.S. -based on company) entered into a three-month forward contract to purchase 1,000,000 ringgits on March 1, 2012. The following U.S. dollar per ringgit exchange rates apply.
On January 1, 2009, American Eagle borrows $65,000 cash by signing a four-year, 8% installment note. The note requires four equal total payments of accrued interest and principal on December 31 of each year from 2009 through 2012.
Once the convergence of US GAAP and IFRS has been completed, should US companies restatement their financials for a better comparsion for prior years? Why/why not?
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