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The following are ledger balances of Red White and Blue partnership
Cash 60,000
Non Cash Assets 500,000
Accounts Payable (280,000)
Red, Capital (150,000)
White, Capital (70,000)
Blue, Capital (60,000)
The partners profit and loss is 40,35 and 25% respectively. The partners agreed to liquidate in installment.
Problem 1: If the 1st non cash asset with book value of P300,000 was sold for 250,000 what amount of cash should be distributed to the partners?
The Converting Department of Osaka Napkin Company uses the average cost method and had 2,300 units in work in process that were 80% complete at the beginning.
X Company is uncertain what production will be next year. What production level would make X Company indifferent between making and buying the part?
Brenda McCoy, the managing partner of McCoy, Brennan, and Cable, a public accounting firm, is considering the desirability of tracing more costs to jobs than just direct labor.
Setup a spreadsheet to calculate the financial ratios for the company in Figures 6-2 and 6-3.
Show a example formula of total revenue of 800,000, expense of 200,000 for tax purposes, and depreciation expense of 130,000 for reporting purposes, the tax rate is 34 percent.
Using these measures as examples, explain how use of the balanced scorecard can increase the economic value added within the organization.
Ending inventory, December 31, 2016, understated by $6,000. What is the effect of the errors on 2016 net income before taxes
(Accounting standards-setting procedures) Several not-for-profit organizations use television campaigns to obtain pledges to contribute cash.
you are a management analyst for xyz aircraft manufacturing company. your company is considering either to use
What are the Concept Statements for Governmental Accounting? What are the purposes of these statements? Where can they be found?
Develop a proposal for migrating your firm to IFRS from GAAP. Discuss how you will educate your users in IFRS
Question - Product Cost Markup Percentage. Determine the markup percentage on product cost. Round the answer to nearest whole number
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