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Question - James, Keller, and Rivers have the following capital balances; $48,000, $70,000 and $90,000 respectively. Because of a cash shortage James invests an additional $12,000 on June 1st. Each partner withdraws $1,000 per month. James, Keller, and Rivers receive a salary of $13,000, $15,000 and $20,000, respectively, for work done during the year. Each partner receives interest of 8% on that partner's monthly weighted average capital balance without regard to normal drawings. Any remaining profits are split 20%, 30%, and 50% respectively. The net income for the year is $30,000. What are the ending capital balances for each partner?
The company's break-even point in sales dollars is $250,000. If sales are $350,000 next year, what will operating income be
For car the unit sell where 120,000.00 and the contribution margin was $240,000.00. If fixed cost are $160,000.00. How many trucks are need to breakeven
The rate of interest on default risk-free investments is 8%. Required: What is the expected present value of Cynthia Bennett' cash flow
On April 16, 2020, the management of the company distributed shares which was announced on March 1, 2020. Make a journal for the above transactions
at the end of year 1 lane co. held trading securities that cost 86000 and had a year-end market value of 92000. during
On October 4, Carter returned some of the merchandise, which is returned to inventory. The selling price of the merchandise is $500 and the cost of the merchandise returned is $350. On October 31 Carter paid Courtland for merchandise purchased.
For Woolworths Ltd using the 2012 year compute the ROE, profit margin ratio, asset turnover ratio, current ratio, debt to equity ratio, interest coverage ratio, NTAB, EPS, DPS and the PER
Evaluate the importance of ethics in accounting. Do you think ethical behavior is more or less important in this profession than in others
kolinchak enterprises has the following production planned for the first quarter of next yearjanuarynbspnbspnbsp
What net expense did Lucy end up incurring? Lucy factored $15,000,000 of accounts receivable with Ethel on a with recourse basis on May 1.
In 2020, Joel and Lisa are married. Assuming their AGI is $130,000. What is the Joel and Lisa's child and dependent tax credit
What should an organization avoid when a fraud is discovered? What is not especially helpful for spotting kiting? Confirming accounts receivables.
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