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Problem 1: Julia, Alpha and Ynes are partners who share profits and losses in a 5:3:2 ratios and on January 1 of the current year, have capital balances of P90,000, P160,000 and P200,000, respectively. Ynes withdrew from the partnership on July 1 of the current year and the partners agreed that, as of this date, certain inventory items would have to be revalued at P70,000 from their recorded cost of P50,000. For the 6-month period ending June 30 of the current year, the partnership realized a net income of P130,000. The partners decided that Ynes should be paid P245,000 for her interest. The payment to Ynes included bonus from remaining partners amounting to?
Financial Statement Analysis and Preparation
Describe the ways that a person can become a shareholder of a company. Why Wal-Mart would split its stock?
An understanding of financial and accounting principles can be a valuable tool for managers. While not all managers will find themselves calculating financial ratios or preparing annual financial data.
Prepare a Statement of Cash Flow using the Direct Method and Prepare the Operations section of the Statement of Cash Flow using the Indirect Method.
This assignment has one case study and two question apart from case study. Questions related to document Liquidation question and Company financial statements question - Torquay Limited
Prepare general journal entries for Goela Ltd
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Explain the IASB Conceptual Framework's perspective of users and their decisions.
T he focus of the report is to determine the extent to which you are comfortable relying on the financial statements as presented by management .
Computation of Free Cash Flow
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