After closing the temporary owners' equity accounts into Income Summary, and after allocating the net income and closing the partners' drawing accounts, assume the partners' capital accounts had credit balances as follows: Rhodes, $40,000; Serrata, $60,000; Shepard, $75,000 . Partners share profits and losses as follows: Rhodes, 20%; Serrata, 30%; and Shepard, 50%. If Shepard retired and withdrew
$85,000 in settlement of his equity and settlements are allocated according to capital interests, the amount entered in Rhodes' capital account would be a
a. $4,000 debit.
b. $4,000 credit.
c. $6,000 debit.
d. $6,000 credit.
a
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IEEE 802.15 is a family of wireless protocols, collectively known as Wi-Fi.
Answer the following statement true (T) or false (F)
For a fee, some companies ________ names or symbols previously created by other manufacturers, characters from popular movies and books, or works of art, any of which can provide brand equity
A) service B) market C) extend D) brand E) license
What is the last step in preparing pro forma financial statements?
a. Project the statement of cash flows from amounts on the projected balance sheet and income statement. b. Project operating revenues and operating expenses other than the cost of financing and income taxes. c. Project the assets required to support the level of projected operating activity. d. Project the financing (liabilities and contributed capital) required to fund the level of assets. e. Project the cost of financing the debt, income tax expense, net income, dividends, and the change in retained earnings.
Ruddick Corporation is a manufacturer that uses job-order costing. The company has supplied the following data for the just completed year: Cost of goods manufactured$1,486,000Cost of goods sold (unadjusted)$1,337,000 The journal entry to record the transfer of completed goods from Work in Process to Finished Goods is:
A.
| Work in Process | 1,337,000 | ? | ? | |
| Finished Goods | 1,337,000 | |||
B.
| Finished Goods | 1,486,000 | ? | ? | |
| Work in Process | 1,486,000 | |||
C.
| Work in Process | 1,486,000 | ? | ? | |
| Finished Goods | 1,486,000 | |||
D.
| Finished Goods | 1,337,000 | ? | ? | |
| Work in Process | 1,337,000 | |||