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The net income of the Pine and Miles partnership is $180,000. The partnership agreement specifies that Pine and Miles have a salary allowance of $48,000 and $72,000, respectively. The partnership agreement also specifies an interest allowance of 10% on capital balances at the beginning of the year. Each partner had a beginning capital balance of $120,000. Any remaining net income or net loss is shared equally. What is the balance of Miles' Capital account at the end of the year after net income has been distributed?
The purchasing department buys the quantities of raw materials that are expected to be used in production each month. Raw materials inventories, thus, can be ignored.
Evaluate for each plan the earnings per share of common stock, assuming that the income before bond interest and income tax is $2,000,000.
Could this lack of clarity in its financial reporting serve as a red flag in alerting you to the possibility of fraud at Enron?
Calculate the unit costs for materials and conversion costs. Determine the costs to be assigned to the units transferred out and ending work in process.
How much insurance expense will be recorded for the accounting periods ending December 31, 2007, and December 31, 2008, if the company uses the accrual basis of accounting?
Create the operating activities section of the company's statement of cash flows, considering use of: Prepare the financing and investing activities sections of the statement of cash flows.
Prepare a report that will be of more value in analyzing and appraising the performance of the manager of Department D for October. Comment on the operating results.
Popper did not get any of this newly issued stock. Find how would this transaction affect additional paid-in capital of the parent company?
If projected net cash flow for February is ($15,000); beginning cash balance is $6,000; minimum cash balance is $5,000; beginning loan balance is $8,000, what will be the cumulative loan balance at the end of March?
Newell Corporation debited Prepaid Insurance for $720 on July 1, 2000 for a 1 year fire insurance policy. If the corporation makes monthly financial statements,
A king in ancient times agreed to award the inventor of chess with one grain of wheat on the first of the 64 squares on a chess board. On the second square the king placed two grains, on the third square he placed 4 grains and on the fourth square..
It would save $6,300 per year over the present method of delivering pizzas. In addition, it would result in the sale of 2,300 more pizzas each year. The company realizes a contribution margin of $1 per pizza.
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