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Question - E and M are partners with capital balances of P30,000 and P70,000, respectively. E has a 30% interest in profits and losses. At this time, the partnership has decided to admit R and L as new partners. R contributes cash of P55,000 for a 20% interest in capital and a 30% interest in profits and losses. L contributes cash of P10,000 and an equipment for a 25% interest in capital and 35% interest in profits and losses. If bonus amounting to P18,250 is given to the old partners, what is the value of the equipment contributed by L?
Newsome Inc. buys on terms of 3/15, What is the nominal annual percentage cost of its non-free trade credit, based on a 365-day year?
Holiday Bakery owns 60 percent of Farmco Products Company’s stock. On January 1, 20X9, inventory reported by Holiday included 21,000 bags of flour purchased from Farmco at $18 per bag. Compute the amount reported as cost of goods sold in the 20X9 con..
Machinery was purchased for $50,000, has an estimated scrap value of $6,000 and has a current carrying value of $33,000. What is its depreciable cost
Flounder Company issued $612,000 of 9%, 20-year bonds on January 1, 2017, at 101. Interest is payable semiannually on July 1 and January 1. Flounder Company uses the straight-line method of amortization for bond premium or discount. Prepare the journ..
Write clearly and concisely about financial accounting and reporting using proper writing mechanics.
Roswell Refiners restarted operations on September 1 after a 3 month shutdown. There were no beginning inventories. Compute cost of goods sold for September. What is the value of the work-in-process inventory on September 30?
On January 1, the credit balance of the Retained Earnings account, Make a Statement of Stockholders' Equity for Strife & Company, architectural design firm.
Creek Co. grants 1,000 share options to each of its 180 employees. What amount of compensation expense shall be recognized in 20x2?
For each of the following items, indicate whether it would appear in the operating, investing, or financing activities section of the statement of cash flows or is not reported in one of these three categories. Assume the indirect method is used f..
If the tax rate is 30 percent, what is the IRR for this project? Can you please help me by providing the authentic solution of this problem.
What is the portfolio's beta? Note: Enter your answer rounded to two decimal places. For example, if your answer is 12.345 then enter as 12.35
Determine EBITDA divided by revenues for each company. Compare and contrast Comcast with DirecTV based on your answers to parts (a) and (b).
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