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X,Y and Z are partners in a firm sharing profits in 7:6:4 ratio.Their respective FIXED CAPITALS are Rs.80000,Rs.40000 & Rs.50000.Rate of interest on capital was agreed @ 10% p.a. but was wrongly credited to them as 12% p.a. . Give the necessary adjustment entry to adjust the balances of partners' capital accounts.</p> .
a firm is trying to determine whether to replace an existing asset. the proposed asset has a purchase price of 50000
you are the manager of an accounting department and would like to hire another managerial accountant to focus on
ai corporation issued 90210 shares of 20 par value cumulative 8 preferred stock on january 1 2007 for2527500. in
The following data are accumulated by Eco-Labs, Inc. in evaluating two competing capital investment proposals:
Tax rules are often very precise. For instance, a taxpayer must ordinarily provide "over 50%" of another person's support in order to claim a dependency exemption. Why is the threshold "over 50%" as opposed to "50% or more"? Explain in detail.
assume quality chicken uses the production method of accounting for byproducts. what are the ending inventory values
dvorak company produces a product that requires five standard pounds per unit. the standard price is 2.50 per pound.
Ted died on May 3. At the time of his death, he owned a beach house valued at $250,000. On June 10, the beach house was completely destroyed by a hurricane and there was no insurance coverage. If the executor elects to use the alternate valuation ..
on jan.1 2009 l company leases a computer. the lease contract calls for 2 lease payments 1000 on december 31 2009 and
the oxford company has budgeted sales revenues as follows july august september credit sales 30000 24000 18000 cash
Use the indirect method of reporting cash flows from operating activites. Assume that equipment costing $125000 was purchased for cash and equipment costing $85000 with accumulated depreciation of $65000 was sold for $15000; that the stock was iss..
zanny electronics companyuses a standard cost system to collect costs related to theproduction of its water ski radios.
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