1. Which of the following could result in the termination and liquidation of a partnership?
1) Partners are incompatible and choose to cease operations.
2) There are excessive losses that are expected to continue.
3) Retirement of a partner.
Gain on Sale and Leaseback
$50,000 / 5 Years
In reference to income, the adjustments made in 2013
Ch 17 Homework Problem
a. A pension fund is a kind of fiduciary fund since this money is used for
the retirement of individuals and cannot be used by city officials for
government spending. They do not appear within the gov
Financial Statement Ratios
At Year End 12/31/15
Quick Ratio (Acid Test)
(~) indicates $ amount in millions
~ ($11,842) (Mergent- AT&T Inc, 2015)
.75 (Gurufocus- AT&T Corp, 2015)
.75 (Gurufocus- AT&T Cor
Life insurance receivable
Investment in stocks and bonds
No entry. Estates do not record liabilities used in payment
Statement of activities
C) Membership dues
E)Net Assets Released From Restriction
Total Public Support & Revenue
Statement of Revenues, Expendentures, and Other Changes in Fund Balances
Maximum loss that can be absorbed
$23,000 to ensure 5,000 to creditors available
$38,000 to cover expense and 5,000 to creditors
Each group leader will submit via email ([email protected]) a completed Statement
of Cash Flows in the excel workbook along with any support documentation necessary to
substantiate your final product. Partial credit may be