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Accounting for Partnerships
The owners’ interests in the business are divided into long term and short-term interests. (Long-term interests refer to original capital commitments and changes thereon. Short-term interests refer to shares of annual profit and amounts therein withdrawn). The long-term interests are shown in a capital account whereas short-term interests are shown in a current account.These accounts are kept in a T-form for examination purposes, a separate column being kept for each partner.
abc limied is considering whether to invest $90000 in the purchase of a new item of equipment. The equipment would be paid for with a down-payment of $60000 and the payment of the
Changes in accounting estimates In preparing financial statements, it may be difficult to arrive at exact values for certain items to be presented in the financial statements and
Important points for holding company with subsidiary The following points are important: 1) The first approach is to determine the effective shareholding by the holding compan
Company A(lessee) will rent inventory for you for 3 years rather than buying it for the regular price of $240,000. Normally these units, which cost us $120,000 to produce, will las
Problems due to Piecemeal realizations These interim distributions give rise to two problems: Partners have not always contributed capitals in the same ratio as that in w
Ask qCamp Corp had the following balances in its stockholders'''' equity at jan 1: Common stock, $2, par value, 450,000 shares issued $900,000 Additional pd in capial 1,200,000 Ret
Q. Show the Capitalized Cost? Capitalized Cost - Expenditure identified with services or goods acquired and measured by theamount of cash paid or market value of other property
Q. Why convertibles might be an attractive source of finance for companies? - Convertibles is able to provide immediate finance at lower cost since the conversion option effect
Consider a hypothetical banking system in which banks produce only demand deposit accounts. The currency deposit ratio (c) is 30% and the customary cash reserve ratio (r) for deman
I need to know how to do a problem and whether I am missing information.
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