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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 The excess of withdrawn assets over Mason's partnership interest is distributed according to the balances of the capital accounts f) mason withdraws by selling his interest directly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
AsCompare and contrast AICPA SSTS to Circular 230 related to knowledge of client''s omission.k question #Minimum 100 words accepted#
User account control is meant to allow users to run with standard user rights, as opposed to administrative rights. Administrative rights provide users the ability to read and chan
Genentech, Inc. is a California-based biotech pioneer recently acquired by Swiss pharmaceutical giant Roche Holding AG. Roche paid $46.8 billion in cash for the 44 percent of Gen
Q. What are Service companies? Service companies carry out services for a fee. This group comprise law firms, accounting firms and dry cleaning establishments. The early sectio
You received an email from Carl the operations manager from the California Container division. They produce packaging for cell phones. Carl understands that his product is an imp
Accounting process in operation Micro Train Corporation is a small corporation that provides on-site personal computer software training using the clients' equipment. The compa
1. Whate are the challenges faced in trade and solutions those problems?
Q. Explain about Gross margin method? The steps in computing ending inventory under the gross margin method are - Estimate gross margin based on net sales using the similar
Q. Explain about statement of cash flows? Retained earnings usually consist of the accumulated net income of the corporation minus dividends distributed to stockholders. We exa
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