If a partnership is liquidated, how is the final allocation of business assets made to the partners? Multiple Choice According to the initial investment made by each of the partners. According to the profit and loss ratio. Equally. According to the final capital account balances.

In a partnership liquidation, the final cash payment to the partners should be made in accordance with the*a. balance of partners' capital accounts.b. partner's profit and loss sharing ratio.c. ratio of the capital contributions by partners.d. safe payment computations.

Accounting for the admission of a new partner by purchase of a partner's interest will a b C O d not affect total assets, liabilities, and capital. increase total assets and total capital. increase total capital. decrease total capital.

An analysis of the accounts of Williams Company reveals the following manufacturing cost data for the month ended September 30, 2017.                            Inventories                 Beginning            Ending                         Raw materials                $12,000            $11,300                         Work in process                 7,500                5,000                         Finished goods                10,000              12,000   Costs incurred:  raw materials purchase $62,500, direct labor $51,000, manufacturing overhead $25,650.  The specific overhead costs were:  indirect labor $6,500, factory insurance $5,000, machinery depreciation $6,000, machinery repairs $2,800, factory utilities $3,600, miscellaneous factory costs $1,750.  Assume that all raw materials used were direct materials.    Instructions (a)        Prepare the cost of goods manufactured schedule for the month ended September 30, 2017. (b)        Show the presentation of the ending…