CHAPTER 12 Accounting for Partnerships ASSIGNMENT CLASSIFICATION TABLE Brief Exercises A Problems B Problems Study Objectives 1. Identify the characteristics of the partnership form of business organization. 2. Explain the accounting entries for the formation of a partnership. 3. Identify the bases for dividing net income or net loss. 4. Describe the form and content of partnership financial statements. 5. Explain the effects of the entries to record the liquidation of a partnership. *6. Explain
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References: Bohlander‚ G.‚ & Snell‚ S. (2013). Managing human resources (16th Ed.). Mason‚ OH: Thomson/South-Western. Ray‚ L. (2013‚ August 10). The Advantages of Team-Based Incentive Pay Plans. Retrieved from http://www.ehow.com/info_12305445_advantages-teambased-incentive-pay- plans.html.
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REQUIRED FOR AP GOVERNMENT Please note that there are 2 required readings. The Brethren by Woodward and Armstrong (This is NOT John Grisham’s book) There will be a test on this book within the first week of class. Focus on the following: - The role of the clerk - The policy-making role of the Court - The cases discussed - The job of the Chief Justice - The balance on the Court - The personalities of the Justice - Be prepared for the first day of class to discuss the confirmation
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– (1/3)L3. At what level of L do diminishing marginal returns begin? At what level of L do diminishing total returns begin? MP = 10L - L2. Marginal product peaks when L = 5 and equals zero when L = 10. Thus‚ diminishing marginal returns begin when L = 5‚ and diminishing returns begin when L = 10. Part B: True-false questions [3 points each] Note: Use diagrams and/or equations to explain your answer. ALL answer points for explanation. IV. A firm operating with diminishing total returns
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Chapter 01 1. The business entity assumption requires that a business be accounted for separately from other business entities‚ including its owner or owners. 2. The four basic financial statements include the balance sheet‚ income statement‚ statement of retained earnings and statement of cash flows. 3. A balance sheet covers a period of time‚ such as a month or year. 4. The income statement shows the financial position of a business on a specific date.
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Chapter Two Worldwide Accounting Diversity Learning Objectives After reading this chapter‚ you should be able to • Provide evidence of the diversity that exists in accounting internationally. • Explain the problems caused by accounting diversity. • Describe the major environmental factors that influence national accounting systems and lead to accounting diversity. • Describe a judgmental classification of countries by financial reporting system. • Discuss the influence that culture is thought to
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themselves into troubles.they paying for the item but after 2 weeks they not received their goods.there is solution‚if we have dealing on the item‚we should go the bank and let the bank workers doing the payments through banking system.in addition‚if payments through the bank more safer than we use our online banking system.the banks have more protection.besides that using online payment we should pays exchange rate into 50% higher than dealing on local products. Third is delivering process‚deliver
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oils‚ and other fossil materials such as coal‚ few intermediates are produced that are not hydrocarbon compounds. The important intermediates discussed here are hydrogen‚ sulfur‚ carbon black‚ and synthesis gas. Synthesis gas consists of a nonhydrocarbon mixture (H2‚CO) obtain- able from more than one source. It is included in this chapter and is fur- ther noted in Chapter 5 in relation to methane as a major feedstock for this mixture. This chapter discusses the use of synthesis gas obtained from
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Chapter 01 An Introduction to Assurance and Financial Statement Auditing True / False Questions 1. Independence standards are required for audits of public companies‚ but not for audits of private companies. True False 2. Decision makers demand reliable information that is provided by accountants. True False 3. Information asymmetry seldom occurs. True False 4. Conflicts of interest often occur between absentee owners and managers. True False
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1. A major advantage of the partnership form is that the personal assets of the partners are protected from creditors in case of legal action- False 2. A partnership is considered an “entity” for accounting purposes- True 3. “Mutual agency” means that one partner can legally bind all the other partners to a contract if it appears that he or she is acting appropriately- True 4. Partners are taxed on their drawings regardless of their share of the income. False 5. If a partnership agreement
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