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Question - On this date, Juan's capital account shows a balance of P158,400. The following were agreed upon before the formation of the partnership: a. Prepaid expenses of P17,500 and accrued expenses of P5,000 are to be recognized. b. P5,000 of the outstanding accounts receivable of Juan is to be recognized as uncollectibles. c. Luna is to be credited with a one-third interest in the partnership and is to invest cash aside from the P50,000 worth of merchandise. What the total capital of the partnership?
In accordance with GASB 33, Accounting and Reporting for Nonexchange Transactions, how much property tax revenue should be reported.
What Venco's ordinary shareholders received? Venco declared and paid a $45,000 cash dividend on December 15, 2020. If the company's dividends in arrears prior.
ABC Company has a three-stage production cycle. The following data are available for the cutting department for November: Materials are added at the beginning of the process in the cutting department. What are the equivalent units under the average c..
Prepaid Insurance (expires on Sep 30, 2017): 9,000. Prepare the adjusting entries that were made by the Dunbar Zoo on December 31, 2017
UV Company, What is Job Order Costing and how it differ from process costing? Calculate the over/under-applied overhead for the year.
Calculate each stock's expected rate of return using the CAPM. Assume the risk-free rate of interest is 6%. Use a 8% risk premium for the market portfolio
Alyse Designer Handbags had the following inventory figures for its Nicole Model during 2013 as shown below. # Units Unit cost Beginning Inventory 36 15 Purchases 1 20 16 2 25 16 3 30 14 4 36 15 Ending Inventory 15 What is the cost of the ending inve..
Donna deposited PHP 8,000 in a saving account at 5 3/4%. if interest is compounded monthly, what will be the amount of their deposit at the end of two years?
Using the library or the internet, research examples of different methods that partnerships can use to allocate net income to the partners, and research the topics of partnership dissolution or partnership liquidationa
Explain how activity based costing could overcome the deficiencies in the existing costing system -activity based costing to develop the cost for each activity centre.
The concept of time value of money has numerous "real-world" applications. How would you use a concept of time value to determine the value of the business
Company A and Company B each borrow $2,400 from the bank. Company A signed a 90-day, 10% note. Company B signed a 120-day, 9% note. How will each of these companies record these events in their respective general journals on the day the money was bor..
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