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Partners F and G receive an interest allowance of $10,000 and $15,000, respectively, and divide the remaining profits and losses in a 3:1 ratio. If the company sustained a net loss of $11,000 during the year, what is the effect on G's capital?a. 6000 increase b. 15000 increase c. 10500 decrease d. 12000 decreasee. 2667 decrease
Q. What do you understand by Tax Court? Tax Court - U.S. Tax Court is a legislative court functioning to adjudicate controversies between taxpayers and IRS arising out of defic
I have an assignment due in four hours. Is it possible to get an inquiry if at least half of it can be done within that time?
GOODWILL Previously under IAS 22 on Business combinations, goodwill on consolidation used to be amortized over an estimated period of years. However, IFRS 3 (still on business
Explain the Transaction Exposure versus Economic Exposure? In brief describe the following term: a) Spot market and forward market. b) Purchasing Power Parity or PPP.
1. Jim buys only milk and biscuits. (a) In 2004, Jim earns $100, milk costs $2, biscuits cost $4 per dozen. Draw Jim's budget constraint (b) Now suppose that all prices i
like Amazon.com face with respect to safeguarding its assets? What types of controls do you think it already has in place to minimize these risks?
CONSTRUCTIVE TRUSTS A constructive trust is a trust imposed by equity regardless of the intention of the owner of the property: it arises by operation of law. The concept has
The Red and Blue partnership has been created to operate a law firm. The partners have been attempting to devise a fair system to allocate profits and losses. Red plans to work mor
Q. What is Depreciation Reserve Fund ? Depreciation Reserve Fund is the fund specially reserved for replacement of assets. Once the assets are purchased from the capital money
Q. What do you mean by Issuer? Issuer - This term means an issuer, securities of which are registered under Section 12 of Securities Exchange Act of 1934, or that is essential
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