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Daja and Whitnee had capital balances of $140,000 and $160,000, respectively at the beginning of the current fiscal year. The articles of partnership provide for salary allowances of $25,000 and $35,000, respectively, an allowance of interest at 12% on the capital balances at the beginning of the year, with the remaining net income divided equally. Net income for the current year was $120,000. a. Present the income division section of the income statement for the current year. b. Assuming that the net income had been $50,000 instead of $120,000, present the income division section of the income statement for the current year.
understanding the difference between fixed and variable costs what area of a health care facility or physician practice
a local commuter bus service advertises that buses run every 15 minutes along a certain route. assume that the bus
1. what are the steps of the accounting cycle?2. what are the six irregular items that may not appear on a multi-step
After the course, Danny spent the last day sightseeing. During the trip, Danny also paid $140 a day for meals, and $80 a day for a rental car. What amount of these travel-related expenditures may Danny deduct as business expenses.
Laws and Regulations of Accounting Write a paper (minimum of three pages, typed, double-spaced, size 12 font, 1 inch margins). Program outcome:Prepare and understand reporting procedures and requirements
1.In your own words, please distinguish between direct and indirect expensesand identify bases for allocating indirect expenses to departments.
nut house manufactures and sells jars of peanut butter. all of the companys output passes through five production
He also paid $14,000 in mortgage interest, $1,800 in property taxes, $300 of credit card interest, and $1400 in job hunting expenses when he tried to change jobs in March. Determine Daniel's income tax liability for 2009 before any allowable credi..
Management Control is the process by which managers influence other members of the organization to implement the organization's strategies and strategy Formulation is the process of deciding on the goals of the organization and the strategies for a..
On January 1, 2011, Nana Company paid $100,000 for 8,000 shares of Papa Company common stock. These securities were classified as trading securities.
a) prepare the journal entries for Myers Co. for 12/31/2010 b) Prepared the required journal entries for for Myers for 2011.
25,000 shares of $10 par common stock were issued at $16. What is the total amount reported in the cash flows from financing activities section of the statement of cash flows?
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