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Question - J and K are partners who share profit and losses in the ratio of 609%:40% respectively. J's salary is P60,000 and P30,000 for K. The partners also paid interest on their average capital balances. In 2020, J received P30,000 of interest and K, P12,000. The profit or loss allocation is determined after deductions for the salary and interest payments. If K's share in the residual income (income after deducting salaries and interest) was P60,000 in 2020, what was the total partnership income?
Sale price: P5000 per monitor, Direct materials cost: P1000 per unit and Direct labor cost: P550 per unit. Compute the total variable cost
cuarto corporation just invested in a project that has an internal rate of return of 24. this project is expected to
Pandora Media, an online music service, issued 14.7 million shares of $1par value stock for $16 per share in June 2011. Give the journal entry to record this transaction.
What type of allowance or benefit would this be cash or non-cash? taxable or non-taxable? What is Accidental Death and Dismemberment coverage
The beginning finished goods inventory was 22,000 units at $440,000. Determine the cost of goods sold for 325,000 units, assuming a FIFO cost flow
What are some examples of unsecured and secured debt? How do lenders manage unsecured debt? Are they successful in the ways they manage their debt
The entity reacquired 10,000 shares at P30 per share to be held as a treasury. What amount should be reported as unappropriated retained earnings at year-end
cash 23800 debit as reported on bank statementsupplies 300 debit only 200 of supplies still existunearned revenue 1500
Cash sales of $8,400 were recorded incorrectly in the cash receipts journal as $4,800. What journal entry is needed to fix this error
Prepare the journal entry to record the accrual of interest and the premium amortization on December 31, 2017
What is the amount of dividends payable to Common Stock, if Preferred stock is cumulative and in arrears four years (in addition to the current year)
Discuss the conceptual issues and the definition of an asset that may be applied in determining whether development expenditure should be treated
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