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Problem 1: A Statement of Financial Position for the partnership of Dy, Sy and Lee, who share profits in the ratio of 2:1:1, respectively shows the following balances just before liquidation: Cash P 12,000 Other Assets 59,500 Liabilities 20,000 Dy, capital 22,000 Sy, capital 15,500 Lee, capital 14,000 4. On the first month of the liquidation, certain assets are sold for P32,000. Liquidation expenses of P1,000 are paid, and additional liquidation expenses are anticipated. Liabilities are paid amounting to P5,400, and sufficient cash is retained to insure the payment to creditors before making payments to partners. On the first payment to partners, Dy receives P6,250. The total cash distributed to the partners in the first installment is:
A. P10,000
B. P12,500
C. P20,000
D. P25,000
E. None of the above
Calculate the after tax cash flow from operations for 2009 (no assets were disposed of during the year, and there was no change in interest payable)
Describe how the financial ratios of debt-to-assets, times-earned-interest, and debt-to-equity would be useful to the business leaders of a particular company.
The plan is to convert 1,500 of the company's delivery vehicles. Do you think UPS will capitalize or expense the cost of converting to electric vehicles
Hydro Inc. manufactures water sensors used by scientists to measure water quality. For the most recent period ended Hydro manufactured and sold 53,250 sensors at a sales price of $290 per sensor.
Compare and contrast the direct write-off method and the allowance method for bad debts. When is the expense for uncollected accounts receivable
Calculations for the amount of property, plant. Calculations that convert the project's EBIT to free cash flow for the 12 years of the project.
The relative cost of wheat into autos (slope of the line) is .33 bushels of wheat. So, to produce one auto, the nation needs to give up .33 bushels of wheat? How the book came up with this slope? Why is not 18/5= 3.6 the slope?
Prepare the bank reconciliation for Fancy Fashions at April 30 Journalize the transactions needed to update the Cash account. The April 30 bank balance is $8,76
Crosser Company budgets on a quarterly basis. The following beginning and ending inventory levels (in units) are planned for the first and second quarters of 2012: If Crosser Company were to manufacture 400,000 finished units (in total) during the fi..
What is the cost of its ending inventory? (Round the per unit cost to 2 decimal places and then round your answer to the nearest whole dollar.
A U.S. government bond with a face amount of $10,000 with 8 years to maturity is yielding 3.5%. What is the current selling price?
Prepare summary journal entries in all appropriate funds. Prepare alternative journal entries to re?ect how the transactions would be recorded in the township'sgovernment-wide statements.
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