Problem 6 Mah, Dah and Lih have capital balances of P600,000, P1,000,000 and P360,000 each respectively and they share profits in the respective ratio of 4:2:1. Dah received P520,000 as a result of liquidating the partnership. partnership also incurred P10,000 liquidation expenses and withheld P2,000 for the unpaid liabilities of the partnership. The How much wil1 Lih receive? A. 240,000 в. 150,000 C. 120,000 D. What is the loss on realization? А. 1,680,000 c. 1,320,000 B. 1,670,000 D. 1,310,000 RSITY

Q: How to correctly find the operating profit? Show an example please.

A: The calculation of operating profit is an important aspect of understanding the financial position…

Q: ors that should be considered when designing a management accounting system.

A: An accounting system is critical to the management of an organization's finances, allowing it to…

Q: Explain the importance of financial ratio analysis as a tool of appraising project

A: Company would be comparing the performances on a regular basis at the end of year or at the end of…

Q: Classification of final goods in management accounting pesperctive.

A: In management accounting, final products refer to the goods or services that have completed the…

Q: Explain the relationship between the Cost Management System and the Financial Accounting System

A: Point of Differences Financial Accounting System Cost Management System Meaning…

Q: Explain the accounting processing cycle.

A:

Q: How does customer Satisfaction relate to management accounting? Give a practical example.

A: Customer satisfaction and management accounting are intrinsically connected in the corporate sector.…

Q: Supper Company Ltd., reported the following stockholders’ equity on its balance sheet at June 30,…

A: The objective of the question is to identify which section of the statement of cash flows includes…

Q: Discuss cost-benefit analysis and financial analysis tools

A: Answer: Cost-benefit analysis: It is nothing but a process of decision making that balances the…

Q: Information in a company’s first IFRS statements must: a.    have a cost that does not exceed the…

A: Definition:   International Financial Reporting Standards (IFRS): IFRS is a set of international…

Q: What is the importance of forecasting revenue and cost in the business?

A: The forecasting is a tool or technique that helps to forecasting the future revenue with the help of…

Q: What is the difference between a financial accounting information system and a cost management…

A: Financial accounting and Cost accounting are two different systems in accounting, which are used for…

Q: explain how the idea of value creation under stakeholder theory differs from that under positive…

A: Here discuss about the details of the difference between the stakeholders theory with the positive…

Q: With the aid of relevant examples ,explainthe following management accounting concepts A.theory of…

A: Answer:- Management accounting meaning:- Accounting techniques such as managerial accounting, also…

Q: what type of decision-making process is supported by management accounting

A: Type of decision-making process is supported by management accounting will be explained:

Q: What is the primary purpose of a cost center? A) To generate revenue B) To control cost C) To manage…

A: In a centralized environment, control moves from task control to results control. In a task control…

Q: Describe the decision making process in management accounting.

A: The decision-making process includes a series of steps which are followed in making a decision for…

Q: are the two fundamental qualities that make accounting information useful for decision making. a.…

A: solution concept Relevance means the information that are relevant for the users of the financial…

Q: "In management accounting, the timeliness of information is more essential than the accuracy of…

A: Introduction: Management accounting is the process of identifying, quantifying, analyzing, and…

Q: Why management accounting practices is important in conducting turnaround program?

A: Accounting is a science of keeping the business record in a regular and most systematic manner, so…

Q: Define and give examples of the following terms: cost center, revenue center, profit center, and…

A: Responsibility center: It refers to that unit of the organization for which a separate executive is…

Q: When conducting a cost-volume-profit analysis determine where the most challenges for accountant…

A: Cost Volume Profit Analysis (CVP Analysis): This analysis is helpful in determining how any type of…

Q: Define earnings quality.

A: Earnings quality refers to the ability of total income by predicting future earnings of the company.

Q: In business quantitative analysis, what is suitable decision tools applied?

A: Quantitative analysis : Quantitative analysis is a tool used in business to understand the course of…

Q: facilitates the comparison of financial noriod t moth

A: Option a is wrong because historical cost concept suggests to record of assets and liabilities at…

Financial Transaction Analysis

The transaction analysis is done with the help of the accounting equation. The basic accounting equation is alternatively known as the balance sheet equation is based on the double-entry system which says that for each transaction happening in a business, at least two accounts should be affected I.e. both the debit side and the credit side should be equal. The Accounting Equation is