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Question 1: Catrina Santana contributed a patent, accounts receivable, and $23,000 cash to a partnership. The patent had a book value of $8,000. However, the technology covered by the patent appeared to have significant market potential. Thus, the patent was appraised at $85,000. The accounts receivable control account was $38,000, with allowance for doubtful accounts of $2,000. The partnership also assumed a $10,000 account payable owed to a Santana supplier. Provide the journal entry for Santana's contribution to the partnership.
procter amp gamble and wal-mart are key partners in a shared channel. pampg is one of wal-marts biggest suppliers and
Bradley had sufficient amounts at risk for the rental property and the partnership. What is Bradley's Year 2 adjusted gross income?
A company delivered $10,000 of goods to a customer that agreed to pay cash. Which of the following items would be increased by this sales transaction?
What were the key ethical issues that the accountants/ management team faced and how to you think they should have responded as the fraud unfolded?
These are selected 2014 transactions for Amarista Corporation. Prepare all adjusting entries at December 31 to record amortization required by the events.
Cash Management refers to how the money (and financial resources) in a business flows; how it is accounted for, invested, and handled.
Chesterfield County had the following transactions. Prepare the entries first for fund-based financial statements and then for government-wide financial statements.
Compute the amount of postretirement expense for 2015. (Show computations)B) Prepare the journal entry to record postretirement expense and Stone's contributions for 2015.
During the year, Lauer sold 825 laptop computers. What was cost of goods sold using the LIFO cost flow assumption
Carpenter Gems began the year with a net pension liability of $84 million (underfunded pension plan). Prepare the appropriate general journal entry to record Carpenter's pension expense.
Prepare computations showing how much profits will increase or decrease if the outside supplier's offer is accepted
Problem - Missing records, computing inventory costs. Ron needs the ending inventory balances to report first quarter numbers
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