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Robert Johnson contributed equipment, inventory, and $42,000 cash to the partnership. The equipment had a book value of $25,000 and market value of $28,000. The inventory has a book value of $50,000, but only had a market value of $15,000 due to obsolescence. The partnership also assumed a $12,000 note payable owed by Robert that was originally used to purchase the equipment. What amount should Robert's capital account be recorded?
harris had adjusted gross income in 2011 of 130000. during the year his personal summer home was almost completely
What are some nonfinancial performance measures? What do they tell us about the performance of an organization? Why is it important for managers to include nonfinancial performance standards in their analysis of their operations?
identify each of white corporations following assets as an ordinary capital or 1231 asset.a. two years ago white used
Once standard costs for products or services have been developed:
wilkens company uses the lifo method for inventory costing. in an effort to lower net income company president lenny
on february 1 2011 wolf inc. issued 10 bonds dated february 1 2011 with a face amount of 200000. the bonds sold for
Oxford company had sales of $3 000 000, variable expenses of $1 800 000, and fixed expenses of $800 000. what would be the amount of saleas dollar at the break even point.
on jan 1 2010 valuation allowance for trading investment has a credit balance of 8700. on dec 312010 the cost of
Journalize the following transaction using the direct write-off method of accounting for uncollectible receivables.
A consultant developed the following projections of net cash flow (in thousands of dollars) for a five year planning horizon. All costs including the consultants fee are included. a. What decision should Lake Placid make using the expected value ap..
reed merchandising company expects to purchase 90000 of materials in july and 105000 of materials in august.
assuming a fica tax rate of 8 on the first 100000 in wages and a federal income tax rate of 20 on all wages what would
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