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Sharp and Townson had capital balances of $60,000 and $120,000 respectively on January 1 of the current year. On May 8, Sharp invested an additional $10,000 in the partnership. During the year, Sharp and Townson withdrew $25,000 and $45,000 respectively. After closing all expense and revenue accounts at the end of the year, Income Summary has a credit balance of $90,000, that Sharp and Townson have agreed to split on a 2:1 basis, respectively. (a) Journalize the entries to close the income summary account and the drawing accounts. (b) Prepare the statement of owner's equity for the current year.
1 what is vanessas filing status?2 what is vanessas agi?3 does vanessa claim the standard deduction or itemized? what
as an investor you are considering buying stock in a relatively new company. medical horizons inc. has been in
1.suppose that author kessel places an order to buy 100 shares of google. explain how the order will be processed if
analyze the account balances for account receivable inentory and shortcurrent long-term deb. describe any observations
In its income statement for the year, what amount should Strand report as total infrequent losses that are not considered extraordinary?
Dougherty Company employs 20 individuals. Eight employees are paid $12 per hour and the rest are salaried employees paid $3,000 a month. How would total costs of personnel be classified?
a quantity is measured 8 times with the following results 15.653 15.642 15.684 15.629 15.637 15.671 15.658 and 15.663
In its most recent financial statements, Newhouse Inc. reported $50 million of net income and $810 million of retained earnings. The previous year, its balance sheet showed $780 million of retained earnings. What were the total dividends paid to s..
Calculate the number of units of product to be produced during October and calculate the number of pounds of raw materials to be purchased during October.
A corporation sold land (with an adjusted basis of $240,000) for $200,000 to its majority shareholder. (A) What is the company's recognized gain or loss on the sale?
Discuss the differences between a probability and a non-probability sample. Under what circumstances would each be used?
the following data apply to superior auto supply inc. for may 2012.1.balance per the bank on may 31 8000.2.deposits in
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