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Needs the entries for the following scenarios: Capital accounts as follows : Mason ; 90,000 Jiri; 30,000 James; 60,000 a) Frank pays mason 25,000 for 20% of masons interest in the company b) Frank invests 60,000 cash in the partnership for a 40% interest in the business. The original partners give Frank a bonus according to the ratio of their capital balances c)Frank invests 40,000 cash in the partnership and receives an interest equal to his investment d) Frank invests 60,000 cash in the partnership for a 20% interest in the business. A bonus to be recorded for the original partners on the basis of their capital balances. e) Mason withdraws from the partnership, taking 105,000. The excess of withdrawn assets over Mason's partnership interest is distributed according to the balances of the capital accounts f) mason withdraws by selling his interest directly to frank for 120,000
In June 2011,Kelly purchased new equipment for $26000 to be used in her business.Assuming Kelly has net income from her business of $75000 prior to the deduction,what is the maximu
help with paper on basic transaction processing fr Richard Simmons
Assume that the following are independent situations recently reported in the Wall Street Journal. 1. National Electric 8% bonds, maturing January 28, 2013, were issued at 112.16.
Profitability refers to a company's ability to obtain profits and positive cash flows and to its ability to obtain an adequate return on invested capital or a company's ability to
The Greenwood Company purchased equipment costing $900. Greenwood paid $400 in cash and agreed to pay the remaining amount in thirty days. As a result of this transaction
Read it once and answer, if The following items appear on a balance sheet. $ Inventory balance at bank cash in hand trade
Q. Explain journal entry? A journal is a sequential arranged in order of time record of business transactions. A journal entry is the stacking of a business transaction in the
Accounting is a significant service activity in business and is concerned along with collecting, evaluating, communicating and recording the results of past events. The history of
While studying evolution, a student comes across a cladogram that includes clades like amphibia, reptilia, aves, and mammalia. What must be the basal clade?
transactions can be even directly entered to the ledger elaborate and explain why journal is necessary
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