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Partnership income and losses are usually divided on the basis of interest, salaries, and stated ratios because partners seldom contribute time and resources equally this method reflects the amount of time devoted to the partnership by the partners it is simpler than following the legal rules it prevents arguments among the partners.
calculation of debt ratio.kansas office supply had 24000000 in sales last year. the companys net income was 400000. its
A company issued a $50,000 four-year, 4% bond on January 1. Bond interest is paid each December 31. The bond was sold to yield 5%.
Search the Codification and cite the paragraph in the Accounting Standards Codification that explains how gains and losses from extinguishment should be recognized. Need the number as well
Exhiibits 14-8 and 14-9 presents the statement of financial position postion and statement of activities and statements of activities for the disabled veterans (Day) charitable Service Trust. For both 2007 and 2006, calculate:common size ration..
designer fads company a local retail clothing store was established april 1 2014. the company issued 8500 shares of 10
Geneva County authorized the issuance of bonds and contracted with the Chessie Construction Company (CCC) to build a new convention center. During 2013, 2014, and 2015, the county engaged in the transactions that follow. All were recorded in the coun..
The following unit data were assembled for the assembly process of the Super Co. for the month of June. Direct materials are added at the beginning of the process. Conversion costs are added uniformly over the production process. The company uses the..
hayes company signs a five-year non-cancelable lease with lester company on january 1 2008 when the lease begins. the
In its first month of operations, Literacy for the Illiterate opened a new bookstore and bought merchandise in the following order: Calculate the cost of goods available for sale, cost of goods sold, and ending inventory under the (a) FIFO,(b) LIFO, ..
Activity-based costing uses. Hemingway's Hot Dogs sell for $2.00 each. The hot dogs cost Hemingway $0.95 and commissions are $0.15 per hot dog. How many dogs must Hemingway sell if his fixed costs for the stand and rent are $3,500?
Danielson Inc., sells two types of caviar. Both are widely recognized as quality products throughout its worldwide distribution system, but from time to time the actual mix of the product shifts as tastes change. If Danielson uses the package approac..
IASB The Conceptual Framework for Financial Reporting, Chapter 4, paragraph 4.4(b): "A liability is a present obligation of the entity arising from past events, the settlement of which is expected to result in an outflow from the entity of reso..
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