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Liz and John formed the equal LJ Partnership on January 1 of the current year. Liz contributed $80,000 of cash and land with a fair market value of $90,000 and an adjusted basis of $75,000. John contributed equipment with a fair market value of $170,000 and an adjusted basis of $20,000. John had previously used the equipment in his sole proprietorship. What bases will Liz and John take in their partnership interests?
Based on your readings, do you agree with the notion of value costing for the 21st Century organizations. Why or Why Not?
Brooks can borrow $500,000 by issuing 5%, 10-year bonds at a price of 96. How much will Brooks actually receive in cash under this arrangement?
the city of springvale levies a tax on the value of real property located within the city limits. the tax equals 2
Prepared a few of the regular monthly entries for Ed. Now, Big Ed's Motorcycle Shop is nearing the fiscal year-end
on september 1 2011 donna equipment signed a one-year 8 interest bearing note payable for 50000. assuming donna
Equivalent units are calculated by
ww co has 10000 shares of 100 par value 6 convertible stock and 50000 shares of 10 par value common stock outstanding
ontario inc. manufactures two products standard and enhanced and applies overhead on the basis of direct-labor hours.
daguio corporation uses direct labor-hours in its predetermined overhead rate. at the beginning of the year the total
the net income reported on the income statement for the current year was 275000. depreciation recorded on fixed assets
if the company has long term loan that only two years remaining until it matures how is it reported on the balanace
with the introduction of computer-generated animated films cgi there has been much discussion of the impact on the
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