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Jagger and Richards formed a partnership, investing $3,600,000 and $2,100,000 respectively. The partnership agreement calls for a return of 10% interest on their original investment; Richards is to have a salary of $500,000 per year, and Jagger does not draw a salary. The remainder is divided in the ratio of 3:2. net income of the partnership for the year is $4,200,000.There was a withdrawal by Richards of $100,000 please prepare a statement of Partner's Equity. Please give equity totals for each partner and the partnership as a whole. Note: a 3-line heading is required.
the following items could appear on a bank reconciliationa. outstanding checksb. deposits in transitc. nsf checkd. bank
complete all the steps of journalizing based on the information provided below.on december 15 ms. corne amp co.
Describe how the use of the audit software package and a copy of the inventory file data might be helpful to the auditor when observing the physical count of inventories as of a given date and test a sample for accuracy
What tax issues should Kathleen consider? Explain.
Assess two major reasons that the Corporate Federal income tax has not been reformed to date, and elaborate on how likely it is to happen in the future. Provide support for your rationale.
john has three options for summer work. he can do lawn work for 100 per week babysit for 125 per week or work at the
Calculate the payout ratio and return on common stockholders' equity ratio for 2004 and 2003.
sanfran has the following data selling price 40 variable manuf cost 22 fixed manuf cost 150000 per month fixed
younger bus lines uses the units-of-activity method in depreciating its buses. one bus was purchased on january 1 2010
pcb corporation manufactures a single product. monthly production costs incurred in the manufacturing process are shown
The machine has an expected life of 5 years and a zero residual value. Select the best response from those below regarding depreciation for this asset.
wempe co. sold 3197000 8 10-year bonds on january 1 2014. the bonds were dated january 1 2014 and pay interest on
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