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Sharp and Townson had capital balances of $60,000 and $90,000 respectively at the beginning of the current fiscal year. The articles of partnership provide for salary allowances of $25,000 and $30,000 respectively, an allowance of interest at 12% on the capital balances at the beginning of the year, with the remaining net income divided equally. Net income for the current year was $100,000. a. Present the income division section of the income statement for the current year. Net income:$100,000
b. Assuming that the net income had been $50,000 instead of $100,000, present the income division section of the income statement for the current year. Net Income $50,000
Discuss your thoughts on whether CEOs' exceptionally high pay is economically justified. Explain your rationale.
you are working as an accountant for the government and you have newly elected board members who are businesspeople
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Ziebart Corp.'s EBITDA last year was $390,000 (= EBIT + depreciation + amortization), its interest charges were $9,500, it had to repay $26,000 of long-term debt, and it had to make a payment of $17,400 under a long-term lease. The firm had no amo..
during 2012 kimmel co. incurred average accumulated expenditures of 600000 during construction of assets that qualified
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Describe the reasons why corporations invest in securities. Describe how the market would be affected if they stopped this practice?
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Show how the entries for the interest expense would differ.
equity transactions. presented below is information related to wyrick company1. the company is granted a charter that
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