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Question - Floyd and Greg are partners who share profits and losses after salary allowance and interest in the ratio of 3:2, respectively. Floyd's monthly salary is P2,000 while Greg's is P15,000 per annum. The partners are also paid interest on their average capital balances. In 2019, Floyd received P18,000 in interest and Greg P12,000. If Greg's share of partnership income was P30,000 in 2019, what was the total partnership income?
bellingham suit co. has received a shipment of suits that cost 200 each. if the company uses cost-plus pricing and
a company is considering replacing an old piece of machinery which cost 600000 and has 350000 of accumulated
ABC Ltd. uses the periodic inventory system and has the following information for 2016. Compute the cost of goods sold for ABC Ltd. in 2016
Race decided to use the equity method to account for this investment. What was the noncontrolling interest's share of consolidated net income?
Why may this decision not be in the best interests of the firm's common stockholders? Which group of these stockholders will be hurt more than others
A company's cash and cash equivalents consist of cash and marketable securities. Last year the company's cash account decreased by $16,000 and its marketable.
Historically, warranty expenditures have been equal to 4% of sales. Total sales for the year were $650,000. Actual warranty repairs made during the year totaled $29,000.
Prepare the journal entries related to the bonds the Bloomington made for the period April 1, 2014 through December 31, 2015
Which statements regarding the application of lower-of-cost-or-market (LCM) to inventory is false? Applying the LCM rule is optional
What impact does equipment sold at a loss, and land sold at a gain have on your calculation? Calculate the net amount of cash provided
Explain one researched accounting position, and explain the essential skills that would make a candidate successful in the position.
In general, how can an employer choose an appropriate discount rate for its pension plan? What information could an employer use in choosing a discount rate
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