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The articles of partnership for A-B partnership provide for a salary allowance of $5,000 per month for partner B, with the balance of net income to be divided equally.
You are required to calculate Written down value of eachasset and show working of complete depreciation for the year endingon December 2007.
If Ebbe, Inc. had $20,000 in beginning inventory, and sold goods costing $300,000, what is the ending inventory balance?
Show Journal entries and necessary accounts. Also show how the items will appear in Profit and Loss account and Balance sheet.
give journal entry that alan should make on jan. 1,2006
Journalize the entries to record the foregoingtransactions. Indicate the amount of the interest expense in (a)2002 and (b) 2003.
Brandywine Homecare, a not-for-profit business, had revenues of $12 million in 2007. Expenses other than depreciation totaled 75 percent of revenues, and depreciation expense was $1.5 million.
Farmer Frank's produces items from local farm products anddistributes them to supermarkets. Is Margaret's behavior regarding the cost information she provided to Susan unethical? Explain your answ
Since merchandise inventory is normally sold within a year,how is it reported on the balance sheet?
Lucy adamantly opposed an extension, however, as the idea of being late on her taxes frightens her. Since Lucy seems to have brought all of the information needed to prepare the return, you accept
Prepare a contribution margin income statement for the month with two columns: in the first column, show the resultsfollowing Paul's decision rule.
A company had a beginning balance in retained earnings of $43,000. It had net income of $6,000 and paid out cash dividends of $5,625 in the current period. The ending balance in retained earnings eq
On July 6 Zonker Company acquired the plant assets of Doonesbury Company, which had discontinued operations. The appraised value of the property is:
What is the present value of the following annuities? a. $2,500 a year for 10 years discounted back to the presentat 7 percent b. $70 a year for 3 years discounted back to the present at3 percent
Compare the evaluation of the office managers that would be made under the original table and the table you have justcreated.
The payroll register of Lowry Landscaping Co. indicates $1,260 of social security withheld and $315 of Medicare tax withheld on total salaries of $21,000 for the period. Federal withholding for thep
Forecast the demand for the week of October12 using a 3-week moving average. Compute the forecast for the week of October12 using exponential smoothing with a forecast for August 31 of 360
Define debt financing. What does the presence of debtfinancing in a firm's capital structure usually suggest? Whatis its purpose?
Discuss the ordinary loss limitations on the sale of section 1244 stock and the advantages of such a characterization.
A company reports the following beginning inventory and purchases for January. On January 26, 355 units were sold. What is the cost of the 160 units that remain in ending inventory
During a three month period a business made sales of $69200 plus vat at 17.5% the balance on the debtors account at the start ofthe period was $5329 and at the end of the period $4711.
Determine for each plan the earnings per share of common stock, assuming that the income before bond interest and income tax is$2,500,000.
Merchandise subject to terms 1/10, n/30, FOB shipping point,is sold on account to a customer for $18,000. The seller issued acredit memorandum for $4,000 prior to payment. What is the amount of the
A building acquired at the beginning of the year at a cost of $316.000 has an estimated residual value of $48,000 and an estimated useful life of 40years. Determine (a) the depreciable cost, (b) the
Calculate the net earnings after tax under each plan and show all of your calculations clearly.