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Needs the entries for the following scenarios: Capital accounts as follows : Mason ; 90,000 Jiri; 30,000 James; 60,000 a) Frank pays mason 25,000 for 20% of masons interest in the company b) Frank invests 60,000 cash in the partnership for a 40% interest in the business. The original partners give Frank a bonus according to the ratio of their capital balances c)Frank invests 40,000 cash in the partnership and receives an interest equal to his investment d) Frank invests 60,000 cash in the partnership for a 20% interest in the business. A bonus to be recorded for the original partners on the basis of their capital balances. e) Mason withdraws from the partnership, taking 105,000. The excess of withdrawn assets over Mason's partnership interest is distributed according to the balances of the capital accounts f) mason withdraws by selling his interest directly to frank for 120,000
when youre using accounting software why would you use hot keys and shortcuts a.to quickly access commands b.to input data for you c.to start the program d.to write checks
Benchmarking A process by which a company reassesses its established business practices by comparing them with the best practices of other organizations. This process is desi
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On June 1st, Green Pea, Inc. purchased $1,200 worth of supplies on account. How does this transaction affect Green Pea's accounts? a. Increase supplies and accounts payable by $
Management accounting and financial accounting Accounting is generally seen as having two different strands which are: ? Management accounting that seeks to meet accounting
A light truck is purchased on January 1 at a cost of $27,000. It is expected to serve for eight years and have a salvage value of $3,000. Calculate the depreciation expense for t
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The following was taken from the records of the Frederic Products Company for 200X: 5) y for 200X: Total estimated manufacturing overhead cost for the year is $288,750 Total
Q. Explain about full disclosure principle? The full disclosure principle states that information significant enough to influence the decisions of an informed user of the finan
Q. Dependability of information? Additionally to being relevant information must be reliable to be useful. Information has reliability when it faithfully describes for users wh
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