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Daja and Whitnee had capital balances of $140,000 and $160,000, respectively at the beginning of the current fiscal year. The articles of partnership provide for salary allowances of $25,000 and $35,000, respectively, an allowance of interest at 12% on the capital balances at the beginning of the year, with the remaining net income divided equally. Net income for the current year was $120,000. a. Present the income division section of the income statement for the current year. b. Assuming that the net income had been $50,000 instead of $120,000, present the income division section of the income statement for the current year.
carter timber company owns 10000 acres of timberland purchased in 2003 at a cost of 2000 per acre. at the time of
If a stock has a constant growth rate of 6% per year and paid a dividend of $5.00 yesterday, what is the value of the stock if the discount rate is 10%?
thomas company has total fixed costs of 360000 and variable costs of 14 per unit. if the unit sales price is reduced
On March 1, 2015, when the market price of Wilson's stock was $14 per share, 3 million of the options were exercised. The journal entry to record this would include:
The normal balance of accounts payable accoiunt is a ______because it is a(an)_____ account
the following information is available for pet store company and its two divisions pet supplies and training.whole
In 2006 Bombay Corporation had cash receipts of $14,000 and cash disbursements of $8,000. Their ending cash balance at December 31, 2006 was $22,000. What was their beginning cash balance?
(a) Common stock of E Company (10% ownership) held as available-for-sale securities, cost $120,000, fair value of $115,000 & (b) common stock of F Company (30% ownership) cost $215,000, equity of $250,000. Prepare the investments section of the ba..
The capital accounts of Hope and Indiana have balances of $115,000 and $95,000, respectively. Clint and Casey are to be admitted to the partnership.
Discuss the type of company's and also explain the different classes of share capital? How they are shown in balance sheet?
which of the following financial ratios is the best measure of the operating effectiveness of a firms
Cameron Bly is a sales manager for an automobile dealership-Does the warranty accrual decision create any ethical dilemma for Bly? Since warranty expenses vary, what percent do you think Bly should choose for the current year? Justify your response.
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