Z retired on the above date on the following terms: a) Goodwill of the firm was valued at Rs. 30,000 b) Value of patents was to be reduced by 20% and that of plant & machinery to 90%. c) Provision for doubtful debts was to be raised to 6 %. d) Z took over the investments at a value of Rs.17,600. e) Liability for workmen’s compensation to the extent of Rs. 375 is to be created. f) Trade creditors to the extent of 2.5 % are not likely to claim their dues. g) Amount due to Z is to be settled on the following basis: 50 % on retirement, 50 % of the balance to be paid in 2 equal half yearly installments carrying interest at 5 % p. a. and the balance by a Bill of Exchange (without interest) at 3 months. The entire capital of the firm as newly constituted is fixed at Rs.100, 000 and the partners’ capital accounts are to be adjusted in the profit sharing ratio. Any excess is to be transferred to current account and any deficit is to be brought in cash

Instructions: use the following information to construct the 2000 balance sheet and income statement for carolina business machines. round all numbers to the nearest whole dollar. all numbers are in thousands of dollars. be sure to read the whole problem before you jump in and get started. at the end of 1999 the firm had $43,000 in gross fixed assets. in 2000 they purchased an additional $14,000 of fixed asset equipment. accumulated depreciation at the end of 1999 was $21,000. the depreciation expense in 2000 is $4,620. at the end of 2000 the firm had $3,000 in cash and $3,000 in accounts payable. in 2000 the firm extended a total of $9,000 in credit to a number of their customers in the form of accounts receivable. the firm generated $60,000 in sales revenue in 2000. their cost of goods sold was 60 percent of sales. they also incurred salaries and wages expense of $10,000. to date the firm has $1,000 in accrued salaries and wages. they borrowed $10,000 from their local bank to finance the $15,000 in inventory they now have on hand. the firm also has $7,120 invested in marketable securities. the firm currently has $20,000 in long-term debt outstanding and paid $2,000 in interest on their outstanding debt. over the firm's life, shareholders have put up $30,000. eighty percent of the shareholder's funds are in the form of retained earnings. the par value per share of carolina business machines stock is

Which analyst position analyzes information using mathematical models to business managers make decisions? -budget analyst -management analyst -credit analyst -operations research analyst

Omnidata uses the annualized income method to determine its quarterly federal income tax payments. it had $100,000, $50,000, and $90,000 of taxable income for the first, second, and third quarters, respectively ($240,000 in total through the first three quarters). what is omnidata's annual estimated taxable income for purposes of calculating the third quarter estimated payment?