Examlex
The balance sheet of Ryan and Peter firm as at 30 June 2017 is given below. Ryan and Peter share profits in the ratio 3:2.They have decided to liquidate the partnership with immediate effect.They sold the furniture and equipment for $72,000.Which of the following is the correct journal entry for the sale transaction?
Unit Value
A measurement or quantity used as a standard or fixed amount in calculations or transactions.
Multiply
To increase in number by a specific factor; in arithmetic, it is the operation of adding a number to itself a certain number of times.
Decimal
A figure that features a decimal point to signify a part of a whole.
Q4: A cheque was written by a business
Q12: One of the reasons for a share
Q16: Which of the following would be included
Q24: Which of the following are deducted to
Q37: The straight-line method of depreciation assigns a
Q42: Free cash flow is equal to the
Q48: Regarding controls over cash receipts by mail,the
Q54: Partridge Ltd provides the following information
Q70: A company's accountant capitalises a payment that
Q93: Equipment with a cost of $34,000 and