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Daggett, Lamppin, and Pendergast are partners who share profits and losses 50%, 30%, and 20%, respectively. Their capital balances are $150,000, $90,000, and $60,000, respectively. Instructions (a) Assume Sanford joins the partnership by investing $140,000 for a 25% interest with bonuses to the existing partners. Prepare the journal entry to record his investment. (b) Assume instead that Daggett leaves the partnership. Daggett is paid $170,000 with a bonus to the retiring partner. Prepare the journal entry to record Daggett's withdrawal.
stone inc. is evaluating a project with an initial cost of 9500. cash inflows are expected to be 1500 1500 and 10000 in
on august 1 2013 a company issues bonds with par value of 600000. the bonds mature in 10 years and pay 6 annual
a company is considering the following alternatives alternative 1 alternative 2 revenues 240000 240000 variable costs
1. for a manufacturing company which of the following is an example of a period cost rather than a product cost?a.
create a hypothetical budget similar to the one you currently would have right now please leave out anything you are
Buffon Electronics Company issues a $1,000,000, 10%, 20-year mortgage note on January 1. The terms provide for semiannual installment payments, exclusive of real estate taxes and insurance, of $58,276. After the first installment payment, the prin..
James Welling, a 37 year old engineer has an appointment to meet you in about an hour. As you are reviewing his accounts, you notice that he is a fairly active trader. He seems to do pretty well with returns that outpace the averages
southern california inc. through no fault of its own lost an entire plant due to an earthquake on may 1 2011. in
What disclosures are required by the Debtor in a Troubled Debt Restructuring?
to be proficient as an auditor a person must first be able to accomplish which of these tasks in a decision-making
During 2006, Edgemont Corporation had revenues of $230,000 and expenses-Compute the retained earnings on December 31, 2005, and 2006.
lucas company recorded the following events last yearrepurchase by lucas of its own common stock25000nbspnbspsale of
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