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R. Cunningham had been speaking with A. Fonzarelli about selling his portion of a partnership in "Arnold's Good Time Hamburger Haven and Karaoke Extravaganza!" Currently Fonzarelli's Owner's Equity account in "Arnold's" is $397,412. Cunningham has offered him $200,000 for half of his equity, so that Fonzarelli won't be completely out of the hamburger business which he loves so much. C. Arnold, who is Fonzarelli's partner has no problems with Fonzarelli selling half his equity in the company and generally likes Cunningham as long as he doesn't have to deal with him too terribly often. If Fonzarelli agrees to the deal what kind of journal entry would be recorded on the books of "Arnold's Good Time Hamburger Haven and Karaoke Extravaganza?"
the iasb based in london england was established with the goal of developing a set of international accounting
paris corporation holds a 100000 unrealized net capital gain and a capital loss carryforward that will expire in the
Cumulative earnings for year prior to current week, $95,817; social security tax rate, 6.0% on maximum of $102,977; and Medicare tax rate, 1.5% on all earnings. What is the gross pay for the employee?
marcie owns a 10 percent interest in a shopping mall located in portland maine. her adjusted basis for her interest is
your neighbor is a security analyst. he has conducted his research about some stocks in karachi name ofcity stock
On March 17, Grady Company agrees to accept a 60-day, 9%, $10,200 note from Alert Company to extend the due date on an overdue account. What is the journal entry needed to record the payment of the note by Alert Company on the maturity date?
Explain why are companies with small levels of inventory usually unconcerned with the choice of variable or absorption costing?
arthurs auto repair shop is considering the purchase of a new computer system for diagnosing engine problems. the
Antonio"s Restaurant specializes in Italian food. During June, Antonio's Restaurant recorded the following sales to customers and costs of oing business:
The partnership made an ordinary cash distribution of $10,000 to Marcie, and paid guaranteed payments to partners Marcie, Alice, and Pat of $20,000 each ($60,000 total). How much will Marcie's adjusted gross income increase as a result of the abov..
temple corp. is considering a new project whose data are shown below. the equipment that would be used has a three-year
prepare adjusting entries for the following transactionsathe beginning balance of the supplies account was 245. during
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