Ch14_P02A

# Ch14_P02A - Plan A in the ratio of initial investment Meade...

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Fundamental Accounting Principles Student Name: Eleventh Canadian Edition, by Larson, Jensen, and Carroll Class: SPATS Problem 14-2A Press F5, enter a cell reference, and click on <OK> to go to one of the following data entry areas: REPORT REFERENCEPRINT AREA Schedules M1 M4:P93 Given Data T1

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REPORT REFERENCE Given Data T1 0 0 SPATS Problem 14-2A Meade and Munez Preliminary Calculations Inc./Loss Year 1 Sharing Plan Calculations Meade Munez

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Inc./Loss Year 2 Sharing Plan Calculations Meade Munez Inc./Loss Year 3 Sharing Plan Calculations Meade Munez
Given Data: Meade and Munez's Alternative Plans to Share Net Incomes and Losses

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Unformatted text preview: Plan A - in the ratio of initial investment Meade - initial investment \$33,000 Munez - initial investment \$49,500 Plan B - in proportion to time devoted to business: Meade - one-third time Munez - full time Plan C - salary to Munez and balance in ratio of initial investment Proposed salary to Munez \$3500 per month Plan D - salary to Munez, interest on their initial investments, balance equally Proposed salary to Munez \$3500 per month Proposed interest rate 10% Expected income: Year 1 \$(20,000) Year 2 \$60,000 Year 3 \$95,000...
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## This note was uploaded on 08/22/2009 for the course ACCT 1202 taught by Professor Carmendima during the Winter '06 term at Niagara College.

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Ch14_P02A - Plan A in the ratio of initial investment Meade...

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