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Junius and Caesar orally agreed to become partners in a food testing business. Caesar, who had experience in food testing work, was to operate business. Junius was to take no active part but was to contribute the whole $500,000 capitalization. Caesar worked ten hours a day at the king's house, for which he was paid nothing. Nevertheless, despite Caesar's best efforts, the business failed. The $500,000 capital was depleted, and the partnership owed $500,000 in debts. Prior to failure of the partnership business, Junius became personally insolvent; consequently, the creditors of the partnership collected the whole $500,000 indebtedness from Caesar, who was forced to sell his home and farm to satisfy the indebtedness. Junius later regained his financial responsibility, and Caesar brought an suitable action against Junius for
(a) one-half of the $500,000 he had paid to partnership creditors and
(b) one-half of $80,000, the reasonable value of Caesar's services during operation of the partnership. Who will prevail and why?
the standard costs and actual costs for direct materials direct labor and factory overhead for the manufacture of 2500
Hamby Inc. has sales of $ 2,000,000 for the forst quarters of 2014. In making the sales the company incurred the following costs and expense Variable Fixed Cost of Good sold $760,000 $600,000 Selling expenses $ 95,000 $ 60,000 Administrative expense..
high-low method predicting costecheverria sa is an argentinian manufacturing company whose total factory overhead costs
Bella Lugosi Holdings, Inc. (BLH), has collected the following operating information below for its current month's activity. Using this information, prepare a flexible budget analysis to determine how well BLH performed in terms of cost control. A..
consider the recent performance of the closed fund a closed-end fund devoted to finding undervalued thinly traded
Distinguish normal and actual cost
Determine the variable cost per order shipped, determine the fixed shipping costs per quarter - determine total shipping costs for 20X7 if activity amounts to 570 orders.
Why is calculating the predetermined overhead rate so important and compute the firm's predetermined overhead rate.
redbird supplies ice cream shops with various toppings for ice cream sundaes.nbsp on november 17 2009 a fire in
question1. trevor price bought 10-year bonds issued by harvest foods 5 years ago for 982.79. the bonds make semiannual
Prepare a budgeted income statement, under absorption costing for Mile-High for the months of April, May and June assuming that Mile High opts to use the variable delivery service. Include supporting schedules to support the revenues and manufactu..
qarts corporation provides a generous employee compensation package that adds employee stock options. the exercise
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