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Problem 1: W and J who share profits and losses in the ratio of 3:7 are partners with capital balances of P40,000 and P60,000, respectively. L is to be admitted into the partnership for 20% interest in the capital of the firm. If assets are revalued and the capital balances of W and J after recording the admission of L are P52,000 and P88,000, respectively, the cash paid by L is
a. 35kb. 10kc. 20kd. 15k
Prepare Bloom Company 's retained earnings statement for the current year.
Find the future value of the account in 3 years.
What the number of equivalent units of production for the period for materials if the first-in, first-out method is used to cost inventories was
In your own words, explain what the advantage is of analyzing a company's financial statements over a series of years rather than just for the current period?
The Capital balances of Partners Eliza and Sara are k20, 600 and K14,400 respectively. Journalize the entries for the admission of Ruth and Tatty
Operating expenses $759,720. Interest revenue $29,970. Cost of goods sold 1,334,200. Make a multiple-step income statement
The following data are for Guava Company's retiree health care plan for the current calendar year. What is the service cost to be included in the current year's
In the basic EOQ model in Example 12.1, suppose that the fixed cost of ordering and the unit purchasing cost are both multiplied by the same factor f.
Description of tax items that are included in gross income. Analysis of the items that are excluded from gross income. explanation of concept of gross income
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On March 16, 2006, a 4% common stock dividend was declared and distributed. Prepare the appropriate entries for the declaration
What is the role of an internal IT audit group in an organization? Why is having such a group important for an organization and why should it report outside the normal IT reporting channels?
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