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Partners share income in the ratio of 3:1. Capital balances are 40,000 and 60,000 respectively.Income summary has a balance of 20,000. what is capital balance after closing income summary to Capital
(a) ratio of fixed assets to long-term liabilities, (b) ratio of liabilities to stockholders' equity, (c) ratio of net sales to assets, (d) rate earned on total assets, (e) rate earned on stockholders' equity, and (f) rate earned on common stockho..
You are a senior auditor working on a client who holds a large portfolio of mortgage obligations. Due to the soft housing market, the client has established a fairly significant loan loss reserve.
An audit client is being sued for $500,000 for discriminatory hiring practices.
Sam, a calendar year taxpayer, purchased an annuity contract for $3,600 that would pay him $120 a month beginning on January 1, 2011. His expected return under the contract based on his life expectancy is $10,800.
Peanut corporation exchanged land and cash of $6,500 for equipment. the land had a book value of $45,000 and a fair value of $34,000. assume the exchange has commercial substance. compute the gain or loss?
For the Project, you will need to submit a written research paper which answers the following questions. This Project is due by Sunday, December 9, 2012. Please read the instructions below.
From the banker's point of view, short-term bank credit is an excellent way of financing?
Using a present value table, calculator, or a computer program present value function, calculate the present value for the following: (Use appropriate factor(s) from the tables provided.)
back mountain industries bmi has two divisions east and west. bmi has a cost-of-capital of 16.1. selected financial
Why is a knowledge of accounting concepts and terminology useful to anyone in a business activity? Is there a difference between bookkeeping and accounting? Discuss.
Determine Tonya's adjusted gross income for the current year. I know that the income is limited to the tax benefit from the prior year, but I am unsure of the tax benefit of the prior year, whether you would use all the of $10,000 or if it's limit..
Explain the net revenue approach to revenue recongnition employed in general fund and special revenue fund (and other governmental fund) accounting and reporting, including why it is used.
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