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Goering, Zarcus, and Schmit are partners and share income and loss in a 3:2:5 ratio. The partner-ship''s capital balances are as follows: Goering, $84,000; Zarcus, $69,000; and Schmit, $147,000. Zarcus decides to withdraw from the partnership, and the partners agree to not have the assets revalued upon Zarcus''s retirement. Prepare journal entries to record Zarcus''s February 1 withdrawal from the partner-ship under each of the following separate assumptions: Zarcus (a) sells her interest to Getz for $80,000 after Goering and Schmit approve the entry of Getz as a partner; (b) gives her interest to a son-in-law,Swanson, and thereafter Goering and Schmit accept Swanson as a partner; (c) is paid $69,000 in partner-ship cash for her equity; (d ) is paid $107,000 in partnership cash for her equity; and (e) is paid $15,000 in partnership cash plus equipment recorded on the partnership books at $35,000 less its accumulated depreciation of $11,600.
Prepare a single-step pro forma income statement for Calcor Company for the year ended November 30, 2010, assuming that Calcor's planned actions would be carried out and that the 5% increase in unit sales would be realized.
Using the code of ethics for management accountants, evaluate the changes that Silverado's management is considering, and discuss the specific steps that Larry Stewart should take to resolve the situation.
grenfell company is preparing a cash budge for 2010 for purchases of calvos. budgeted data are as followscost of goods
question 1. a corporation has a june 30 year end. what is the last date it will file its return due for its june 30
questionjo company has the following budgeted
petes pet products is a sole proprietorship owned by pete thompson. the store provides a full-line of pet products
Prepare the December 2009 journal entries to record the newsstand sales and subscriptions received. (assume that the debit is to cash)
fielder company obtained land by issuing 2000 shares of its 10 par value ordinary shares. the land was recently
If the company were to prorate the variances, how much ($) of the direct material usage variance would be allocated to finished goods inventory?
TQM, ABC, JIT, 80/20, XYZ and are there any other initials I should know about to get a handle on inventory control and its relationship to profit," your client asks. Your client owns a medium sized manufacturing concern and keeps hearing all thes..
Activity-Based Costing
Douglas manufactures four grades of lubricant, W-10, W-20, W-30, and W-40, from a joint process. Additional information follows: If Processed Further Product Units Produced Sales Value at Split-Off Additional Costs Sales
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