User Account

All Pages

Jen hall contributed a patent accounts receivable

Assignment Help Accounting Basics
Reference no: EM131125698

1. Jen Hall contributed a patent, accounts receivable, and $22,000 cash to a partnership. The patent had a book value of $56,000. However, the technology covered by the patent appeared to have significant market potential. Thus, the patent was appraised at $150,000. The accounts receivable control account was $32,000, with an allowance for doubtful accounts of $2,000. The partnership also assumed a $12,000 account payable from Hall. Provide the journal entry for Hall's contribution to the partnership. 

Reference no: EM131125698

Questions Cloud

The union believes that clear and convincing evidence : The Printers International union reached agreement for a new three year contact with a large regional printing company. The union believes that clear and convincing evidence shows a inadvertent typing error. decide.
The author include a reference to the research study : Select one of the research study articles that you found, giving preference to one that has an abstract that falls short of APA standards. (You will find these standards noted in the APA Publication Manual sections and by the course text readings ..
How much net income should be distributed to mooney : Smithson and Mooney had $50,000 and $150,000, respectively, in their January 1 capital balances. Net income for the year was $240,000.
What happens to the distribution of protein : protein is shuttling between the nucleus and the cytoplasm. If you add an inhibitor of nuclear export to these cells what happens to the distribution of this protein?
Jen hall contributed a patent accounts receivable : Jen Hall contributed a patent, accounts receivable, and $22,000 cash to a partnership. The patent had a book value of $56,000. However, the technology covered by the patent appeared to have significant market potential.
Employee productivity by setting up internal software : Software Training Program ABC Company has 50,000 employees and wants to increase employee productivity by setting up an internal software applications training program. Add to each resource a 5% raise that starts three months into the project. Print ..
Provide the journal entry for beachs contribution : Josh Beach contributed land, inventory, and $24,000 cash to a partnership. The land had a book value of $65,000 and a market value of $114,000. The inventory had a book value of $60,000 and a market value of $56,000.
What are the pros and cons to each approach : Obesity is one of the number one health concerns in our country for children and adults. What are ways to prevent obesity? As a counselor, what type of plan would you recommend to help someone who is suffering with obesity or other eating disorder..
Final project proposal -new york city teaching : Pick an education reform effort. (New York City Teaching Fellows) It can be the work of a school, school district or system, non-profit organization, university, company, institute, local, state, or national government.

Reviews

Write a Review

Accounting Basics Questions & Answers

  Holly inc reports warranty expense when related products

holly inc reports warranty expense when related products are sold. for tax purposes the warranty costs are deductible

  Is it realistic to assume that the economic concept of

for your final discussion assignment respond to the following questions.is it realistic to assume that the economic

  Now suppose that paymores customers pay their bills with a

paymore products places orders for goods equal to 80 of its sales forecast in the next quarter. the sales forecasts for

  Explain the application of the cost principle

List the numbers of the foregoing transactions, and opposite each indicate the account title to which each expenditure should be debited.

  Based on the ranking in i how much time should ortiz spend

office visits phone calls weight-loss support group maximum number of patient billings per day 20 40 50 hours per

  Gift tax liability under the assumption

What is her 2010 gift tax liability under the assumption that she made the $200,000 of taxable gifts in 1974 instead of 1997?

  What would be the account balance in the service revenue

what would be the account balance in the service revenue account after the following transactions assuming a zero

  Investment in total income

Mouns Company owns 30% interest in the stock of Darian Corporation. During the year, Darian pays $20,000 in dividends to Mouns, and reports $100,000 in net income. Mouns Company's investment in Darian will increase Mouns' net income by?

  Find notes using the effective-interest method

Purchases land having a fair value of $336,000 by issuing a 4-year, zero-interest-bearing promissory note in the face amount of $592,147.

  Obit airlines is considering the purchase of a new 275000

orbit airlines is considering the purchase of a new 275000 computerized reservation system to replace its manual

  What minority group instituted it the goals

Chose one movement (Black Power, Women's Liberation, Gay Liberation, Chicano Rebellion, Red Power, or Yellow Power), and identify what minority group instituted it, the goals they sought, the methods they employed, and the results they achieved.

  On the basis of the following data a journalize the

on the basis of the following data journalize the adjusting entries at june 30 the end of the current fiscal year and

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!

Submit Assignment

Academics

Major Subjects

Majors

Get In Touch

whatsapp: +1-415-670-9521

Phone: +1-415-670-9521

Email: [email protected]

TERMS & POLICIES

HELP & SUPPORT

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