Balance in annes capital account

Assignment Help Accounting Basics
Reference no: EM13144856

Allen invests $20,000 cash and Anne invests land that originally cost $20,000 in their new partnership. The land is now worth $35,000. Which of the following is the balance in Anne's capital account?

A) $30,000

B) $35,000

C) $20,000

D) $25,000

E) None of the above

Reference no: EM13144856

Questions Cloud

Amount and character of the distribution : Digger Corporation has $50,000 of current and accumulated E&P. On March 1, Digger distributes land with a $30,000 FMV and a $17,500 adjusted basis to Dave, its sole shareholder. The land is subject to a $5,000 liability which Dave assumes: a. Wha..
Find probability that individual graduate will have salary : If the salaries are normally distributed with a standard deviation of $5,000, find the probability that An individual graduate will have a salary over $45,000.
How many gamete combinations are possible : An organism has 15 homologous chromosomes. How many gamete combinations are possible during this organism's gametogenesis?
Calculate the pressure when the can is heated : An aerosol can has a gas pressure of 138 kPa at 293 K. Calculate the pressure when the can is heated to 506 K.
Balance in annes capital account : Allen invests $20,000 cash and Anne invests land that originally cost $20,000 in their new partnership. The land is now worth $35,000. Which of the following is the balance in Anne's capital account?
How many genes control flower size in this plant : A homozygous plant with 20 cm diameter flowers is crossed with a homozygous plant of the same species that has a 40cm diameter flowers. The F1 plants all have flowers 30cm in diameter.
Explain what should the stock concentration : what should the stock concentration of atp be so that if you pipette a 100 uL aliquot you will obtain a final concentration of 2mM in an assay volume of 3.0 mL
What would be the ph of solution of hx in water : A weak acid HX has Ka = 1.00×10-6. What would be the pH of a 0.10 M solution of HX in water?
Comparing actual performance of the operations : The benefits of comparing actual performance of the operations against planned goals include all of the following except:

Reviews

Write a Review

Accounting Basics Questions & Answers

  Define advantages and disadvantages to fsc decision

What are the advantages and disadvantages to FSC's decision to not use the BSC as a performance tool- i.e., linking it to the employee evaluation and reward system?

  Interest and taxes by expanding into new markets

Business is going well for Email Designers. The board of directors of this family-owned company believes that Email Designers could earn an additional $1,000,000 income before interest and taxes by expanding into new markets. However, the $4,000,0..

  Weighted-average process-costing system

Strawberry Company uses a weighted-average process-costing system. Company records disclosed that the firm completed 40,000 units during the month and had 10,000units in process at month-end,20% complete.

  Inventory management-order quantity for service level

Daily demand for a product is 100 units, with a standard deviation of 25 units. The review period is 10 days and the lead time is 6 days. At the time of review there are 50 units in stock.

  What is the amount of cash that can be safely distributed

The Partnership of D, E, and F has the following account balances just prior to the liquidation of the partnership: Cash, $90,000; Noncash Assets, $570,000; Liabilities, $300,000: D, Capital, $120,000; E, Capital, $180,000; and F, Capital, $60,000..

  What is the maximum amount of their deductible

Phil and Linda are 25 year-old newlyweds and file a joint tax return. Linda is covered by a retirement plan at work, but Phil is not.

  Annual payment due on the note

The note requires annual payments of $15,208, with the first payment occurring on the last day of the fiscal year. The first payment consists of interest of $4,400 and principal repayment of $10,808. The journal entry Hawthorne would record to mak..

  With regard to critical success factors

With regard to critical success factors, which one of the following would not be considered a financial measure of success?

  Accounting criteria for recognizing

Determine which of the following is not an example of a decision or informed judgment that a potential employee could make from accounting information?

  What scheme does it seek to prevent

What is the "kiddie tax" all about? What is its purpose? What "scheme" does it seek to prevent? Do you think it is really necessary? If so, why do you think it cuts off at 14?

  Compute the cost of goods destroyed

Compute the cost of goods destroyed. Compute the cost of goods destroyed, assuming that the gross profit is 25% of sales.

  Determine the eliminating entries

Determine the eliminating entries necessary for the 20X9 consolidated financial statements. Provide correct eliminating entries necessary for the 20X9 consolidated financial statements.

Free Assignment Quote

Assured A++ Grade

Get guaranteed satisfaction & time on delivery in every assignment order you paid with us! We ensure premium quality solution document along with free turntin report!

All rights reserved! Copyrights ©2019-2020 ExpertsMind IT Educational Pvt Ltd