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L. pinella (beginning capital, $80,000) and H.Johnston (beginning capital $120,000) are parteners. During 2010, the partenrship earned net income of $90,000, and Pinella made drawings of $24,000 while johnston made drawings of $32,000.
INSTRUTIONAssume the partnership incom-sharing agreement calls for income to be divided with a salary of $55,000 to Pinella and $45,000 to Johnston, interest of 10% on beginning capital, and the remainder divided 50%-50%. Prepare the journal entry to record the allocation of net income.
Explain how each of these costs would be accounted - Hidden Lakes Company purchased a delivery truck. The total cash payment was $30,020, including the following items.
assignment type individual project deliverable length 5-10 powerpoint slides can include an excel file for financial
Identify the decision variables for the MBI Corporation problem. Identify the objective for the above problem, and write a formula for it. Identify the constraints for the above problem and write the formula for each
van doren corporation is considering producing a new temperature regulator called digidial.
Analyze the primary way in which Emerging Issues Task Force (EITF) influences Generally Accepted Accounting Principles (GAAP). Based on your analysis, recommend one (1) improvement that the EITF could take in order to more effectively influence..
For each of the three concepts described in the chapter, what value would be attributed to this land in a consolidated balance sheet at the date of takeover?
calculate the present value of the following cash flows rounding to the nearest dollara. a single cash inflow of 12000
Purchased $100,000 of U.S. Treasury 6% bonds, paying 102 plus accrued interest of $1000. The security is to be held short-term profits.
given the following information concerning a 2.00 convertible preferred stock one share of preferred is convertible
1. which of the capital budgeting techniques do you think is the most accurate? why?2. why do we have to discount a
The company also sells dinnerware that is purchased from unrelated foreign producers. During the tax year 2010, Maria had a U.S. profit of $1.2 million (QPAI) and a profit from the imported merchandise of $100,000. What is Maria's DPAD?
abc s-corporation had 200000 of ordinary income in 2013 abe an 80 owner contributes white machine in an irc section 351
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