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The articles of partnership for A-B partnership provide for a salary allowance of $5,000 per month for partner B, with the balance of net income to be divided equally. If B made an additional investment of $10,000 during the year and withdrew $4,000 per month, and net income for the year was $90,000, by what amount did B's capital increase during the year?
A) $60,000
B) $37,000
C) $85,000
Many public universities are quite similar to their private counterparts. Indeed, some large state universities receive less than 25 percent of their resources from the state. How, then, can you account for the substantial differences in their rep..
Prepare the necessary journal entries for the years ending December 31, 2009, 2010, and 2011. Show all computations.
She also has another 250 units in her van, ready to deliver per a customer order, terms FOB destination, and another 70 units out on consignment to a friend who owns a retail store. How many units should Jenny include in her company's period-endin..
pretty pillows mfg. manufactures silk throw pillows. last month the company produced 3890 pillows. using job order
A firm operate at 90% of capacity for the past year, during which fixed costs were $320,000, variable costs were 60% of sales and sales were $1,000,000. What is operating profit was?
What are some of the lifestyle changes that may indicate fraud and unreported income?
What is the Expected cost to the company for next year and the CFO wants to set a budget amount that we have a confidence level of 85% that we won't go over budget. What figure should be used?
Ken a salaried employee, was terminated from his company in Aprilof this year. Ken refused to return the four extra checks. What actions should the company take?
A company regularly sells its receivables to a factor who assesses a 2% service charge on the amount of receivables purchased. Which of the following statements is true for the seller of the receivables?
Sarah transfers property with an $80,000 adjusted basis and a $100,000 FMV to Super Corporation in a Sec. 351 transaction. Sarah receives stock with an $85,000 FMV and a short-term note with a $15,000 FMV. Sarah's basis in the stock is:
In 2009, Mark has $18000 short-term capital loss, $7000 long term gain, and $6000 long term gain. Which of the statements below is correct?
why would depreciation be more for tax purposes than for book? Is this legal? If so, is a company required to have different depreciation methods for book and tax purposes?
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