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On December 31, 2020, the statement of financial position of ABC Partnership with profit or loss ratio of 1:5:4 is presented below:
Cash 200,000
Outside liabilities 400,000
Other assets 800,000
B, Loan 10,000
A, Capital 350,000
B, Capital 90,000
C, Capital 150,000
On January 1, 2021, the partners decided to liquidate the ABC Partnership. During January, the following transactions occurred:
Question 1: Who among the partners should be the first to receive cash as it becomes available?
a. A
b. B
c. C
d. None.
Dr. Saunders, Record the additional activityand a revised income statement for July 2018 and a revised balance sheet as of July 31, 2018.
AC221 Financial Accounting Spring 2016 - Financial Statement Analysis Project. You will need to provide a target price and also analyst recommendation (Strong Buy, Buy, Hold, Sell, Strong Sell). You can rely on what stock analysts think already and..
instead of acquiring the plant for $31864, assume that cherry ltd manfactured the plant at a cost of $29500 before entering into the lease agreement with hazel ltd. prepare a schedule of lease receipts for cherry ltd and the journal entries for th..
Merchandising: Preparation of purchases budgets (for three periods) Walker Company prepares monthly budgets. The current budget plans for a September ending inventory of 30,000 units. Company policy is to end each month with merchandise inventory equ..
The dividends are expected to grow at a constant rate of 5% per year. If the required rate of return on this stock is 12%, what is value of this stock?
Mega Concerns Inc., Evaluate factors that should be considered to determine whether the functional currency of VCL is the Canadian dollar or the Mexican peso.
From January 1 through the time of the fire, the company made purchases of $330,000 and had sales of $720,000. Assuming the rate of gross profit to selling price is 40%, what is approximate value of the inventory that was destroyed?
If the yield on AA rated bonds is still 240 basis points higher than a gov't bond, what is the new price of the bond? (note: round to the nearest cent)
Write the journal entry to show the effects of (a) signing the note and the receipt of the cash proceeds on Aug 1, 2009. (b) Recording the interest expense for the month of September. (c) Repaying the note on December 31, 2009.
Prepare Bonita's journal entries for (a) the May 1 issuance, (b) the July 1 interest payment, and (c) the December 31 adjusting entry
You decide to look into hiring an investment banking firm. Identify the items you should consider when making this important decision and the reasons why.
The car will cost $66,233 at that time. Assume that Stephen can earn 3.90 percent on his money. How much should he set aside today for the purchase?
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