Held Bond Co. reports net income of $70,000. The income ratios are Held 60% and Bond 40%.
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Held Bond Co. reports net income of $70,000. The income ratios are Held 60% and Bond 40%. Indicate the division of net income to each partner, and prepare the entry to distribute the net income.
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The division is Held 42000 ...View the full answer
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I did Master of Commerce in year 2009 and completed ACCA (Association of Chartered Certified Accountants) in year 2013. I have 10 years of practical experience inclusive of teaching and industry. Currently i am working in a multinational company as finance manager and serving as part time teacher in a university. I have been doing tutoring via many sites. I am very strong at solving numerical / theoretical scenario-based questions.
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Related Book For
Accounting Principles
ISBN: 978-0470533475
9th Edition
Authors: Jerry J. Weygandt, Paul D. Kimmel, Donald E. Kieso
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