A. 36,000B. 0C. 38,720D. 2,500 A local partnership was considering the possibility of liquidation since one of the partners issolvent (Tillman) and the others are insolvent. Capital balances at that time were as follows. Profitsand losses were divided on a 4:2:2:2 basis, respectively.Ding, capitalLaurel, capitalEzzard, capitalTillman, capital60,00067,00017,00096,000Ding's creditors filed a P25,000 claim against the partnership assets. At that time, the partnershipheld assets reported at P360,000 and liabilities of P120,000. If the assets could be sold forP228,000, what is the minimum amount that Ding's creditors would have received?

Solution:- Introduction:- The partnership business is mutual agreement between two or more people…

Answered: A local partnership was considering the…

FINANCIAL ACCOUNTING

10th Edition

ISBN:9781259964947

Author:Libby

Publisher:Libby

Chapter1: Financial Statements And Business Decisions

Section: Chapter Questions

Problem 1Q

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44 FFA/FA FINANCIAL ACCOUNTING 9.8 which it relates from being capitalised? The development is incomplete The benefits flowing from the completed development are expected to be less than its cost Funds are unlikely to be available to complete the development The development is expected to give rise to more than one product 1 3 1 and 2 2 and 3 A C 3 and 4 1 and 4 Theta Co purchased a patent on 31 December 20X3 for $250, for ten years, after which it will be valueless. 9.9 what amou will Which TWO of the any part of the to --
4G 46 10:13 O O 3 N vo, 0.00 a 01:56:59 Remaining Multiple Choice Y leases a building to a client. During the year, he received the following remittance from the lessee: • Rental, net of 10% creditable withholding tax -P1,800,000 • Real property tax of the leased building-P60,000 • Reimbursement for utilities used by the lessee paid by Y-P150,000 Compute for the gross income subject to regular tax. P1,860,000 P1,950,000 P2,010,000 P2,060,000 43 of 60
48
1
4G+ 12:43 PM 12.6KB/s © l 61 00:17:22 Remaining Multiple Choice The cost of intangible asset acquired by way of government grant is recorded at Fair value Nominal amount plus directly attributable costs Fair value or nominal amount plus directly attributable costs, whichever is lower Fair value or nominal amount plus directly attributable costs, representing an accounting policy choice by the entity 7 of 25 レ
A4 9b A4 9a We find the following information on NPNG (No-Pain-No-Gain) Inc.: EBIT = $2,000,000Depreciation = $250,000Change in net working capital = $100,000Net capital spending = $300,000 These numbers are projected to increase at the following supernormal rates for the next three years, and 5% after the third year for the foreseeable future: EBIT: 20%Depreciation: 10%Change in net working capital: 15%Net capital spending: 10% The firm’s tax rate is 35%, and it has 1,000,000 outstanding shares and $8,000,000 in debt. We have estimated the WACC to be 15%. b. Calculate the CFA* for each of the next four years, using the formula CFA* = EBIT(1 – T) + Depr – ΔNWC – NCS.
Question number 37
Q 9.53: Which term refers to the systematic and rational allocation of cost related to a plant asset? A Depreciation Amortization Obsolescence Asset revaluation Stud - App plant Confidence SUBMIT O Mark for Review F10 P8 F6 %23 R
Your company has a project available with the following cash flows: Year 0 1 2345 Cash Flow -$80,900 21,600 25,200 31,000 26,100 20,000 If the required return is 15 percent, should the project be accepted based on the IRR?
Initial investment (CF) Year (t) 1 567GA WN 2 3 4 8 Machine A $85,300 $17,500 $17,500 $17,500 $17,500 $17,500 $17,500 $17,500 $17,500 Machine B $60,300 Cash inflows (CF₂) $11,500 $13,700 $15,600 $18,400 $20,300 $25,400 Machine C $130,300 $50,200 $30,300 $20,500 $20,100 $20,300 $29,900 $39,600 $49,900
Information for Hobson Corporation for the current year ($ in millions): Income from continuing operations before tax Loss on discontinued operation (pretax) Temporary differences (all related to operating income): Accrued warranty expense in excess of expense included in operating income Depreciation deducted on tax return in excess of depreciation expense Permanent differences (all related to operating income): Nondeductible portion of entertainment expense The applicable enacted tax rate for all periods is 25%. What should Hobson report as income from continuing operations? $ 230 10 85 175 20

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