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John and Paul are partners who share profits and losses in the ratio of 3:2 respectively. John's salary is P180,000 and Paul's is P140,000. The partners are paid interest on their average capital balances where John received interest of P 30,000 and Paul, P 15,000. The profit and loss allocation is determined after deduction for the salary and interest payments.
Problem a: If John received P280,000 from partnership income, what was the total partnership income? (Good Accounting Form)
Compute General Mills' accounts receivable turnover ratio for 2004. (Assume that all sales are on credit. and determine the average collection period, in days, for an account receivable? Explain your answer.
Ross and Jones CA is a well-established accounting firm, At what flat fee for Mabel's return would the firm be indifferent between the two clients?
In 2018, WWF company entered into a contract to construct a road for Santa Clara County for $10 million. The road was done in 2020.
What is the origin/justification for the tax-exempt status of municipal bonds? What are the arguments for and against the exemption?
At the end of 2017, records show the company incurred $1,843,000 of actual overhead costs. Determine the predetermined overhead rate
Find the average daily balance (in dollars) if the next due date is May 14. The amount $24.45 was charged on April 21 and $207.36 was charged on April 28.
On December 31, 2018, the Accounts Receivable general ledger account of Quirino Corporation had a balance of P181,000.
How much would you have gained or lost. Show the calculation. Include a brief statement as to whether you would be willing to invest in this company and why.
Montgomery Company, What amount should Montgomery record the note payable and corresponding cost of the building on January 1, 2021?
How to calculate straightline depreciation method? What is the purpose of adjusting an account? Explain Property, plant, and equipment (PPE)
Prepare the trading and profit and Loss for XYZ Ltd for the year ended June 30, 2019 (Categorize overhead cost under the appropriate headings)
Frank Worldwide Inc. manufactures cycling equipment. Recently the vice-president of operations of the company has requested construction of a new plant to meet the increasing demand for the company's bikes. Determine the selling price of the bonds. P..
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