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Zinc, LP was formed on August 1, 20X9. When the partnership was formed, Al contributed $10,000 in cash and inventory with a FMV and tax basis of $40,000. In addition, Bill contributed equipment with a FMV of $30,000 and adjusted basis of $25,000 along with accounts receivable with a FMV and tax basis of $20,000. Also, Chad contributed land with a FMV of $50,000 and tax basis of $35,000. Finally, Dave contributed a machine, secured by $35,000 of debt, with a FMV of $15,000 and a tax basis of $10,000. What is the total inside basis of all the assets contributed to Zinc, LP?
Nakashima Gallery had the following petty cash transactions in February of the current year. Feb. 2 Wrote a $ 400 check, cashed it, and gave the proceeds and the petty cashbox to Chloe Addison, the petty cashier.
major league bat company manufactures baseball bats. in addition to its goods in process inventories the company
or the activity level of 3,200 units, compute: (a) the total variable cost; (b) the total fixed cost; (c) the total cost; (d) the average variable cost per unit; (e) the average fixed cost per unit; and (f) the average total cost per unit. Assume tha..
How does the company compare in profitability with competitors and did the company meet its operating expense budget?
Prepare a flexible budget for 20,000, 22,500, and 25,000 units of activity - Was Centron's experience in the quarter cited better or worse than anticipated? Prepare an appropriate performance report and explain your answer.
Comment on the matters that you should consider and state the audit evidence - During the year technological advancement of the manufacturing process resulted in an increase in production capacity in three of the company's factory buildings
How much direct material costs were incurred during June?
Speedy paid $33 per share to repurchase its stock. What are the balances of Common Stock and Total Stockholders' Equity after the repurchase?
questionthe dickinson company reported total income of 155000 for the present year. depreciation recorded on buildings
The controller at Emporia Precision Parts asks for your help in sorting out some cost information. She is called to a meeting, but hands you the following information for June.
sunday starr prepares monthly cash budgets. relevant data from sunday starrs operating budgets for 2011
1. hans a citizen and resident of argentina is a retired bank executive. hans does not hold a green card. at the start
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