Jake, Sacha, and Brianne own a tour company called Adventure Sports. The partners share profit and losses in a 2:3:5 ratio. After lengthy disagreements among the partners and several unprofitable periods, the friends decided to liquidate the partnership. Before the liquidation, the partnership balance sheet showed total assets, $264,000; total liabilities, $220,000; Jake, Capital, $10,000; Sacha, Capital, $12,000; and Brianne, Capital, $22,000. The cash proceeds from selling the assets were sufficient to repay all but $65,000 to the creditors. Jake and Sacha are general partners and Brianne is a limited partner. How much of the remaining $65,000 liability should be paid by each partner? A machine that cost $469,000, with a four-year life and an estimated $46,000 residual value, was installed in Haley Company's factory on September 1, 2020. The factory manager estimated that the machine would produce 470,000 units of product during its life. It actually produced the following units: 2020, 20,900: 2021, 128,400; 2022, 115,400; 2023, 108,200; and 2024, 102,100. The company's year- end is December 31. Required: Show the depreciation for each year and the total depreciation for the machine under each depreciation method calculated to the nearest whole month. Submit handwritten answers of this questions and upload the file under this question. Write short notes on the concept with illustrations; a) List the general rights of common shareholders b) What is preemptive rights of common shareholders c) Why would an investor find convertible preferred shares attractive? Submit handwritten answers of this questions and upload the file under this question. Superior Skateboard Company, located in Ontario, is preparing adjusting entries at December 31, 2020. An analysis reveals the following: a. During December, Superior sold 7,900 skateboards that carry a 60-day warranty. The skateboard sales totalled $404,000. The company expects 8% of the skateboards will need repair under warranty and it estimates that the average repair cost per unit will be $31. b. A disgruntled employee is suing the company. Legal advisers believe that it is probable that Superior will have to pay damages, the amount of which cannot be reasonably estimated. c. Superior needs to record previously unrecorded cash sales of $2,240,000 (cost of sales 60%) plus applicable HST. d. Superior recognizes that $109,000 of $174,000 received in advance for skateboards has now been earned. Required: Prepare any required adjusting entries at December 31, 2020, for each of the above