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Jane, Kent, and Tracy have income ratios of 5 :3 :2 and capital balances of $34,000, $31,000, and $28,000, respectively. Noncash assets are sold at a gain. After creditors are paid, $119,000 of cash is available for distribution to the partners. How much cash should be paid to Kent?
at each calender year end maize supply co uses the percent of accounts receivable method to estimate bad debts.on 31
Describe different revenue recognition methods under GAAP and IFRS. Define ADR firms.
tony and suzie graduate from college in may 2012 and begin developing their new business. they begin by offering
cherokee companys auditor discovered some errors in 2008 when preparing adjusting entries for 2008. prepare the
the company purchased land with a building for 1250000. at the time of the purchase the fair value of the land was at
On January 1, 2003, ABC co. purchased a building and machinery that have the following useful lives, salvage value, and costs-Prepare the journal entry necessary to record the depreciation expense on the building in 2008
brandon corporation had the following stockholders equity accounts on january 1 2012 common stock 5 par 510700 paid-in
The partners' relative interests in the Sec. 751 assets do not change as a result of the current distribution. The basis of her partnership interest following the distribution is:
How much would George have to deposit in the bank today if he will beearning a 6% annual rate of return and wants to have $5,000 in the bank at the end of five years?
at the end of 2013 an error was made in the physical count of inventory at carter corporation which resulted in ending
Assume a government leases equipment to be used in governmental activities under a noncancelable lease, meeting the requirements for classification as a capital lease. Where would the capital lease be reported in the government's financial stateme..
what are ratios? how could liquidity ratios be used by investors to determine whether or not to invest in a
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