Already have an account? Get multiple benefits of using own account!
Login in your account..!
Remember me
Don't have an account? Create your account in less than a minutes,
Forgot password? how can I recover my password now!
Enter right registered email to receive password!
Question:
Mark, Sophia and Ben are partners in a small book selling business called TWB Book. They have no written agreement. When they decided to open their business, it was agreed that each partner could purchase goods on behalf of the partnership up to a value of $5,000.00.
Purchases above this amount were to be agreed to by all partners. In the beginning of this year, Mark attended a trade fair in Sydney. There, he met representatives from Lemon International Ltd, a company dealing in children's entertainment films who was eager to do business with TWB Book. Believing that this would be a good line of business to diversify into, Mark placed an order for several films worth $8,000.00.
Sophia and Ben did not know about this order until the films were delivered at their shop, with a bill for $8,000.00. Sophia and Ben were furious on learning of this transaction and contacted Lemon International Ltd to pick these goods from their partnership premises, arguing that Mark had no authority to purchase them on behalf of the firm.
Discuss the rights and liabilities of the partners and Lemon International Ltd.
Discuss whether the changes described in each of the cases require recognition in the CPAs audit report as to consistency
In 2010, he made six payments. How do the transactions in the divorce agreement affect Arnold's and Barbara's taxable income.
Determine the recipient and amount of the partner bonus and provide the journal entry to admit Lane into the partnership.
the blending department of luongo company has the following cost and production data for the month of april. costsnbsp
On July 1, 2013, Lula Plume created a new self-storage business, Safe Storage Co. The following transactions occurred during the company's first month.
the city of bedford is studying a 600-acre site on route 356 for a new landfill. the startup cost has been calculated
a company sold an investment in trading securities originally costing 30000 for 28000. at the beginning of the year the
Based on your research, assess how corporate leaders may make improper assumptions related to accounting information systems and the related information. Indicate the most negative potential impacts on business operations related to these assumpti..
There were no other transactions between the two companies. Ignoring income taxes, Mets' statement of income for the year ended December 31, 2011, should include "Income From Investment in Pirates Corporation Stock" in the amount of:
which of the two basic reporting approaches for cash flows from operating activities did the company
residual income midlands design ltd. of manchester england is a company specializing in providing design services to
jerry graves and bonnie moss decided to form a partnership. graves will contribute 300000 to the partnership while moss
Get guaranteed satisfaction & time on delivery in every assignment order you paid with us! We ensure premium quality solution document along with free turntin report!
whatsapp: +1-415-670-9521
Phone: +1-415-670-9521
Email: [email protected]
All rights reserved! Copyrights ©2019-2020 ExpertsMind IT Educational Pvt Ltd