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Suze and Bess formed the Suzy B Company by making capital contributions of $130,000 and $195,000 respectively. They predict annual partnership income of $230,000 and are considering the following alternative plans of sharing income and loss:
(a) in the ratio of their initial capital investments; or
(b) salary allowances of $40,000 to Suze and $35,000 to Bess; interest allowances of 12% on their initial capital investments; and the balance shared equally. Assuming that both partners put about the same amount of time into the business, which method of allocating income would be best?
Jarret's interest payments on the loan this year are $4000,and his principal payments are $900. a. Should Jarret report any interest income this year? b. Can Jarret deduct any interest expense this year?
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sanchez corporation is considering three long-term capital investment proposals. relevant data on each project are as
Show how Mountain Terrace Medical Center should report net accounts receivable on its December 31, 2012 balance sheet. Use the three line reporting format.
Which of the following 3 bonds should I invest in assuming a 7% interst rate? Please show how you manually calculated this.
which of the following is accounted for as a change in accounting principle?a change in inventory valuation from
The budgeted finished goods inventory and cost of goods sold for a manufacturing company for the year 2010 are as follows: January 1 finished goods, $765,000; December 31 finished goods, $640,000; cost of goods sold for the year, $2,560,000. The b..
Theory of Interest: NPV, IRR, Nominal and Real, Amortization, Sinking Fund, TWRR, DWRR
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