Phil phoenix and tim tucson are partners in an electrical repair business. their respective capital balances are $87,100 and $48,200, and they share profits and losses equally. because the partners are confronted with personal financial problems, they decided to admit a new partner to the partnership. after an extensive interviewing process they elect to admit don dallas into the partnership. prepare the journal entry to record the admission of don dallas into the partnership under each of the following conditions: 1. don acquires one-fourth of phil’s capital interest by paying $31,100 directly to him. 2. don acquires one-fifth of each of phil’s and tim’s capital interests. phil receives $24,500 and tim receives $14,600 directly from don. 3. don acquires a one-fifth capital interest for a $60,800 cash investment in the partnership. total capital after the admission is to be $196,100. 4. don invests $39,220 for a one-fifth interest in partnership capital. implicit goodwill is to be recorded.

Personal financial planning is the process of creating and achieving financial goals? true or false

"in my opinion, we ought to stop making our own drums and accept that outside supplier's offer," said wim niewindt, managing director of antilles refining, n. v., of aruba. "at a price of $21 per drum, we would be paying $4.70 less than it costs us to manufacture the drums in our own plant. since we use 70,000 drums a year, that would be an annual cost savings of $329,000." antilles refining's current cost to manufacture one drum is given below (based on 70,000 drums per year):

For each of the following cases determine the ending balance in the inventory account. (hint: first, determine the total cost of inventory available for sale. next, subtract the cost of the inventory sold to arrive at the ending balance.)a. jill’s dress shop had a beginning balance in its inventory account of $40,000. during the accounting period jill’s purchased $75,000 of inventory, returned $5,000 of inventory, and obtained $750 of purchases discounts. jill’s incurred $1,000 of transportation-in cost and $600 of transportation-out cost. salaries of sales personnel amounted to $31,000. administrative expenses amounted to $35,600. cost of goods sold amounted to $82,300.b. ken’s bait shop had a beginning balance in its inventory account of $8,000. during the accounting period ken’s purchased $36,900 of inventory, obtained $1,200 of purchases allowances, and received $360 of purchases discounts. sales discounts amounted to $640. ken’s incurred $900 of transportation-in cost and $260 of transportation-out cost. selling and administrative cost amounted to $12,300. cost of goods sold amounted to $33,900.a& b. cost of goods avaliable for sale? ending inventory?