In January 2021, Lux and Jinx agreed to produce and sell chocolate candies, and form a partnership called "Wild-Rift Partneship". Lux contributed P2,400,000 in cash to the business. Jinx contributed the building and equipment, valued at P2,200,000 and P1,400,000 respectively. The partnership had profits of P840,000 during 2021 but was less successful during 2022, when profit was only P400,000. Required: 1. Prepare the journal entry to record the investment of both partners 'in the partnership. 2. Determine the share of profit for each partner in 2021 and 2022 under each of the The partners agreed to share profit equally b. Partners failed to agree on a profit-sharing arrangement c. The partners agreed to share profit according to the ratio of their original investment a.

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Which one of the following can the accounting equation can be rewritten as? A Assets + profit – drawings – liabilities = closing capital B Assets – liabilities – drawings = opening capital + profit C Assets – liabilities – opening capital + drawings = profit D Assets – profit – drawings = closing capital – liabilities

N1. Account

H3. Company: Xylem lnc Financial Analysis of Xyl In this section discuss anything pertinent to the financial statements. For example if you had to do something special to estimate future growth, you would discuss that here. Similarly, here is where to talk about DCF and what you had to do to get cash flows, or something unique about the earnings or dividend stream. This is also where to discuss ratio analysis pertinent to each of the financial statements.

The following is information for Monty Corp. for the year ended December 31, 2023: Sales revenue Unrealized gain on FV-OCI equity investments Interest income Cost of goods sold Selling expenses Administrative expenses Dividend revenue $1,130,000 38,000 5,000 678,000 56,500 44,000 23,000 Loss on inventory due to decline in net realizable value Loss on disposal of equipment Depreciation expense related to buildings omitted by mistake in 2022 Retained earnings at December 31, 2022 Loss from expropriation of land Dividends declared $71,000 25,000 55,000 930,000 61,000 45,000 The effective tax rate is 20% on all items. Monty prepares financial statements in accordance with IFRS. The FV-OCI equity investments trade on the stock exchange. Gains/losses on FV-OCI investments are not recycled through net income.

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Which of the following activities does not increase cash? Multiple Choice   Increasing current liabilities (getting a 90-day loan).   Decreasing current assets other than cash (selling some inventory for cash).   Increasing long-term debt (borrowing long-term).   Increasing equity (selling some stock).   Increasing fixed assets (purchasing property).

Q5. The following items would be presented in the Statement of Changes in Equity.Answer only TRUE or FALSE for each(i) Revaluation of investment property(ii) Rights issue made in the year

Question: Determine the missing amount from each of the expanded accounting equation below: Assets Liabilities  Capital (Beg. Bal) Owner's Equity Drawings  Profit/Loss 97,600 85,400 48,800 ? (24,400) Explain Please.