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Question - Rules for the Distribution of Profits or losses - Laguna and Cadelina share profits and losses on a fractional-share basis with two-fifths for Laguna and three-fifths for Cadelina. This year the firm has profits of P650,000. The beginning Capital balances for the year were P900,000 for Laguna and P1,300,000 for Cadelina. The balances of the Drawing accounts are P300,000 for Laguna and P240,000 for Cadelina.
Required - Journalize the entries to close income summary and the partners' drawing accounts on Dec. 31.
FINANCIAL REPORTING PROBLEM: Tootsie Roll Industries, Inc. What was the amount of net cash provided by operating activities for 2011? For 2010
on july 2012 hallo corporation a wholesaler of communication equipment issued 34000000.00 of 20year 12 bonds at a
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Gives an examples demonstrating how the company uses these concepts successfully. Are there any ways they can improve in these areas? How?
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discuss about prepare Chao's end-of-period adjustment for estimated uncollectible accounts. Also prepare the entry that would have been made had the credit balance instead been a debit balance
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