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Piecemeal Realizations and Distributions
Partnership dissolutions may take a substantial number of days even months) so it is unlikely that all cash generated will be simultaneous, unless the business is sold off as a going concern, i.e. a single unit.The partners may not be willing to wait for such long durations for the process to be complete before receiving their repayments of capital.It is therefore common practice to make interim distributions to partners as soon as a reasonable amount of cash is available. However, all liabilities must have been paid off by the time any distribution is made to a partner.
a company is evaluating a project requiring capital expenditure of 620,000. estimated life of project is four years and no salvage value. estimated net income and net cash flow fro
FV of Bond 20000, CR 0.045, MR 0.059, Remaining payments 32. Answer
You have previously been exposed to the 'Introduction and analysis' of financial statements in previous sections of this course. From now you might have acquired several familiarit
Q. What do you mean by suspense account? How are errors in accounting classified? Suspense account: A suspense account is an account, which is opened when the trail balance does
In 200 words or more, discuss the issues that relate to the accounting for operating and capital leases. In your posting, please articulate issues that the accountant faces in r
Powers of trustee (A) Of his own initiative, he may: 1. Sell and transfer any part of the bankrupt's property; 2. Gives receipts for money received; 3. Take all n
Example of Short-term Solvency Current Ratio = Current Assets / Current Liabilities = 5.38
The Schrödinger Science Store operates a retail store in a local shopping mall.The results of operations for the fourth quarter of 2011 are as follows: Sales
what is costs of raw material used.......
How to determine the depreciation To determine depreciation in straight-line method, take cost of the asset, less the trade-in value, and divide by the estimated years of usefu
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