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Question 1: AA, BB, CC and DD are partners sharing profits in the ratio of 3:4:6:8, respectively. Their capital balances on December 31, 2019 are as follows: AA = P3,000; BB = P8,000; CC = P12,000; and DD = P6,000 The partners decide to liquidate their firm and they accordingly convert the non-cash assets into P40,000 cash. After paying liabilities of P10,000, they have P36,000 to divide. What is the book value of the non-cash asset sold?
$326000 in revenues, $168000 in expenses, and dividends of $75000. The net income reported by Splish Brothers Inc. for the month of June was
When preparing the consolidated income statement for 2021, what adjustment should be made to income tax expense
Which A should depreciate the asset over? A recently acquired an asset. According to the manufacturer, the asset was designed to last for 5 years.
Summarize total costs to account for and compute the cost per equivalent unit for direct materials and conversion costs
Liabilities = $27,000; Dividends = $3,000; Revenues = $14,000; Expenses = $9,000. Calculate stockholders equity at the end of the period
Show the effect of transaction on the accounting equation - Gavin Corp. entered into the transactions
distribution of income or loss to partners.jane invested 100000 and paul invested 90000 in a new partnership. they
The exchange rate between the dollar and the mark is $.40 per mark. When $200 is converted to marks, how many marks will be received?
Identify net cash from operating activities for the year of 2014 & 2013. Identify net cash used in investing activities for the year 2014 & 2013. Identify net cash from financing activities for the year 2014 & 2013.
Temporary difference, Explain what amounts of non current future tax liability and current future tax asset will be shown on the balance sheet?
Determine Which income stream do choose. $2,000 every quarter for 10 years with the first receipt at the end of the first quarter.
One has a higher NPV and the other has a higher IRR. Which project is the better choice--the one with the higher NPV or the one with the higher IRR?
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