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Question - James and his very close associate Wade formed a partnership on Jan. 1, 2015 with James contributing P16,000 cash while Wade contributing equipment with a book value of P6,400 and a fair value of P 4,800 and inventory items with a book value of P2,400 and a fair value of P3,200. During 2015, Wade made additional investments of P1,600 on April 1 and P 1,600 on June 1, and on Sept 1, he withdrew P4,000. James had no additional investments or withdrawals during the year. What the average capital balance at the end of 2015 for Wade?
nygaard corporation uses the weighted-average method in its process costing. the following data pertain to its assembly
Make the journal entry at the date of purchase. (Round factor values to 5 decimal places, e.g. 1.25124 and final answers to 0 decimal place)
The job was completed in 540 hours and the average actual labor rate was $18.20 per hour. What is the labor rate variance
Compute the total cost per ton of ore mined in the first year. (Show computations by setting up a schedule giving cost per ton.)
James operates a daycare center in his home as a sole proprietorship. Determine James's total of self-employment and income taxes if marginal tax rate is 25%
on may 1 dandy company had a work-in-process inventory of 10000 units. the units were 100 complete for material and 30
Haines Manufacturing Company (HMC) bases its fixed overhead rate on practical capacity of 25,000 units per year. Calculate the fixed overhead spending variance
A researcher is interested in studying the effects of aging on memory, but data gathered using the cross sectional design may also include the effects of
What are the four basic assumptions that underlie the financial accounting structure?
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the rump organization rump an sec registrant is a commercial real estate company that purchases and constructs
At the date of acquisition, by how much does Riley's additional paid-in capital increase or decrease
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