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Question - Barber and Atkins are partners in an accounting firm and share net income and loss equally. Barber's beginning partnership capital balance for the current year is $314,000, and Atkins' beginning partnership capital balance for the current year is $232,000. The partnership had net income of $152,000 for the year. Barber withdrew $86,000 during the year and Atkins withdrew $25,000. What is Barber's ending equity?
Lisa Company had 128 units in beginning inventory at a total cost of $15,872. Compute the cost of the ending inventory and the cost of goods sold
The following information relates to Harris Corporation. What is the acid-test ratio for the current year? What is the inventory turnover for the current year
in its first year of operations cope company earned 28000 in service revenue 6000 of which was on account and still
What percentage interest in the pool is held by the town and the school district? Show the entry in the Investment Trust Fund to record the School District's investment in the pool.
petco makes 2 products dog collars and cat collars. each passes through the cutting machine which is the binding
Over the past two years, Jonas Cone has used a dollar-cost averaging formula to purchase $300 worth of FCI common stock each month.
during its fiscal year a pension trust fund buys 1000 shares of stock for which it pays 33000. at year end the stock
What price would have been charged to the customer if the job required $3,200 in materials and $4,200 in direct labor cost, and the company priced its jobs at 40% above the job's cost according to the accounting system?
for a recent year the balance sheet for the company includes accrued expenses of 102200000. the income before taxes for
Explain the concepts of current and long-term liabilities. Give at least five examples of current liabilities and five examples of long-term liabilities
If the company does not plan to sell the machine, what should Huff record as an impairment on December 31, 2015
In no less than two hundred words What are the different basis of accounting? When is it appropriate to use the cash basis? Accrual basis
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