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A and B are partners sharing profits in the ratio of 3:1. On 1st April,2001, they admit C into partnership for 1/5 who pays Rs.50,000 as premium privately. On 1st April 2002,they admit D into partnership for 1/6th share who brings Rs.40,000 as premium.Pass the journal entry for the above.
private college transactions. elizabeth college a small private college had the following transactions in fiscal year
freeny corporation adjustment data and the unadjusted trial balance.adjustment dataunusual supplies on hand
departments that are titled marketing finance operations accounting and finance are departmentalized by product
Calculate the combined total net income if the company accepts the offer to sell additional units at the reduced price of $13 per unit (Normal value? Additional value? Combined value?)
Retained earnings at 1/1/06 was $150,000 and at 12/31/06 it was $200,000. During 2006, cash dividends of $50,000 were paid and a stock dividend of $40,000 was issued. Both dividends were properly charged to retained earnings.
The following are the amounts of the assets and liabilities of New World Travel Agency at December 31, 2014, the end of the current year, and its revenue and expenses for the year. The retained earnings were $53,470 on January 1, 2014, the beg..
Emmy would like to organize PRK as a C corporation with herself as sole shareholder. Emmy expects PRK to generate $15,000 annual income before paying Emmy's salary. Individual ordinary rates are 25 percent, corporate rates are 15 percent, and individ..
If you were a small business owner would you implement an activity-based costing system. What potential benefits or pitfalls do you foresee?
The amount of the purchases would probably be about $10,000 per month, and the terms would require National to make payment in full within 30 days. Would you recommend that your company grant credit to National under these terms? Explain the reaso..
on july 12014 xyz company a calendar year company sold special order merchandise on credit and received in return an
the process of stating the basic dilemma and then developing other questions by progressively breaking down the
The yearly depreciation on the building is $2,000. Required: Prepare the general journal entries to record the stock issue and the purchase of the land and building on January 1 and the depreciation expense on December 31, 2010.
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