User Account

All Pages

Journal entries to record the partners investments

Assignment Help Microeconomics
Reference no: EM132423183

Hassan, Ali, and Reem are forming a partnership. Hassan is transferring $50,000 of cash to the partnership. Ali is transferring land worth $15,000 and a small building worth $80,000. Reem transfers cash of $9,000, accounts receivable of $32,000 and equipment worth $19,000. The partnership expects to collect $29,000 of the accounts receivable.

Instructions: Prepare the journal entries to record each of the partners' investments.

Reference no: EM132423183

Questions Cloud

What are playhouse squares total fixed costs per month : For performances of "The Lion King," what will Playhouse Square's variable cost per performance be?If Playhouse Square sells out a performance
Target optimal capital structure : Let's also assume the current debt and equity values are at Target's optimal capital structure.
Dupont decomposition to indicate profit margin : Problem: For the fiscal year ending January 31, 2012 (2011), Target had total revenues of (in millions) $69,865 ($67,390) and net earnings of $2,929 ($2,920).
Estimate target return on invested capital or roic : Estimate Target's return on invested capital or ROIC. Compare it with Walmart's. Are you surprised at the difference?
Journal entries to record the partners investments : Prepare the journal entries to record each of the partners' investments.
Accrue the estimated warranty cost : Question 1: Prepare the adjusting entry at December 31 to accrue the estimated warranty cost.
Compute the accounts receivable turnover ratio : Compute the accounts receivable turnover ratio based on the following data.
Why are we developing and sharing content : List various content themes you can share on social aligned with objectives and content mission. Why are we developing and sharing content?
Determine the price of the bonds-singleton computers : Determine the price of the bonds on June 30, 2018. Calculate the interest expense Singleton reports in 2018 for these bonds using the effective interest method.

Reviews

Write a Review

Microeconomics Questions & Answers

  The free rider problem

Question: Explain why the free rider problem makes it difficult for perfectly competitive markets to provide the Pareto efficient level of a public good.

  Failure of the super committee is good thing for economy

Some commentators have argued that the failure of the “Super committee” is good thing for the economy?  Do you agree?

  Case study analysis about optimum resource allocation

Case study analysis about optimum resource allocation: -  Why might you suspect (even without evidence) that the economy might not be able to produce all the schools and clinics the Ministers want? What constraints are there on an economy's productio..

  Fixed cost and vairiable cost

Questions:  :   Which of the following are likely to be fixed costs and which variable costs for a chocolate factory over the course of a month?  Explain your choice.

  Problem - total cost, average cost, marginal cost

Problem - Total Cost, Average Cost, Marginal Cost: -  Complete the following table of costs for a firm.  (Note: enter the figures in the  MC   column  between  outputs of  0 and 1, 1 and 2, 2 and 3, etc.)

  Oligopoly and demand curve problem

Problem based on Oligopoly and demand curve,  Draw and explain the demand curve facing each firm, and given this demand curve, does this mean that firms in the jeans industry do or do not compete against one another?

  Impact of external costs on resource allocation

Explain the impact of external costs and external benefits on resource allocation;  Why are public goods not produced in sufficient quantities by private markets?  Which of the following are examples of public goods (or services)? Delete the incorrec..

  Shifts in demand and movements along the demand curve

Describe the differences between shifts in demand and movements along the demand curve. What are the main factors which can shift the demand curve? Explain why they cause the demand curve to shift. Use examples and draw graphs to support your discuss..

  Article review question

Article Review Question: Read the following excerpts from the article "Fruit, veg costs surge' by Todd, Dagwell, published in the Herald on January 25th 2011 and answer questions below:

  Long-term growth, international trade & globalization

Long-term Growth, International Trade & Globalization:- This question deals with concepts such as long-term growth, international trade and globalization. Questions related to trade deficit, trade surplus, gains from trade, an international trade sce..

  European monetary union (emu) in crisis

"Does the economic bailout of Spain and Greece spell the beginning of the end for the European Monetary Union (EMU)?"

  Development game “settlers of catan”

Read the rules of the game, the overview and the almanac for the Development Game "Settlers of Catan"

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