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X and Y have original investments of $47,176 and $107,850 respectively in a partnership. The articles of partnership include the following provisions regarding the division of net income: interest on original investment at 10%, salary allowances of $28,803 and $30,420 respectively, and the remainder equally. How much of the net income of $118,415 is allocated to X?
What should Campbell record as a net deferred tax asset or liability for the year ended Dec 31 2011 assuming that the enacted tax rates in effect are 40% in 2011 and 35% in 2012?
In a recent year Dillon Corporation had net income of $130,000, interest expense of $20,000, and tax expense of $30,000. What was Dillon Corporation's times interest earned ratio for the year?
All disbursements and receipts are handled in the store’s main checking account. Draw an E-R diagram with cardinalities of the store’s revenue cycle.
The cost of capital will remain at 15% and the hospital intends to purchase adjoining property in 2012 as the location for the proposed cancer center. Depreciation expense will increase by $5,000 in each of the next five years.
Determine the expected return on Barbaras investment
Compute the revenue recognized, construction costs expensed, and income earned for each year using the percentage of completion method. Explain the potential risks associated with this accounting method and discuss why an analyst would be interes..
If taxable amounts related to the temporary difference are scheduled to be reversed by $300,000 for both 2011 and 2012, Meyers should increase or decrease deferred tax liability by what amount?
Prepare general journal entries to record the above transactions.
Calculate the subsequent realized gain, recognized gain and the adjusted basis of his new residence
During 2010, Bike reported net income of $500,000. For 2011, Bike reported net income of $800,000. Dividends of $300,000 were paid in each of these two years. Explain how much income did Harley report from Bike for 2011?
loss on disposal of Sports Division, $555,000; and loss due to strike, $339,000. Ignoring income taxes, what total amount should Manning Company report as extraordinary losses?
Financial Statement Analysis and Preparation
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