liability, Accounting Basics

Assignment Help:
partner investments, journal entries. The LP partnership was formed on January 1, 19X7, by investments from Bill Levy and Marv Parcells. Levy contributed $30,000 cash and $80,000 of land. Parcells contributed cash of $50,000 and equipment with a value of $20,000. Prepare the journal entries needed to record the investments of levy and parcells

Related Discussions:- liability

Owner got personal loan from his bank and sign note, owner got personal loa...

owner got personal loan from his bank and sign note payable.what is the journal entries?

Explain the terms assets and liabilities, Two friends, Joe and Bill, both h...

Two friends, Joe and Bill, both have carpentry skills and decide to go into business as partners together ?tting kitchen cabinets. Joe's uncle has agreed to provide £20,000 of capi

Retained earnings account, Closing entries perhaps prepared directly from t...

Closing entries perhaps prepared directly from the work sheet. The first journal entry debits all items appearing in the Income Statement credit column as well as credits Income Su

Cost sheet-orientation, Cost sheet is sheet Where all the cost should be re...

Cost sheet is sheet Where all the cost should be recorded which related to the produc.

#princess, what are the implications of applying accounting concepts wrongl...

what are the implications of applying accounting concepts wrongly

Inventory or incidental cost, While perusing medical practice, is the cost ...

While perusing medical practice, is the cost of supplies, for patients on site, considered as an inventory, or an incidental cost? With 2 million in sales the chemotherapy medicine

Acct 205, I need help with accounting 205 week four assignment

I need help with accounting 205 week four assignment

Donna, Jan. 1 Purchased a small company and recorded goodwill of $150,000. ...

Jan. 1 Purchased a small company and recorded goodwill of $150,000. Its useful life is indefinite. May 1 Purchased for $90,000 a patent with an estimated useful life of 5 years an

What is fob destination, Q. What is FOB destination? FOB destination si...

Q. What is FOB destination? FOB destination signifies free on board at destination. The seller ships the goods to their destination with no charge to the buyer. Therefore the s

Explain the types of financial statements, Explain the types of Financial S...

Explain the types of Financial Statements Income Statement . This is a summary of a business's expenses and revenue for a specific period of time. It ONLY shows expenses and r

Write Your Message!

Captcha
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!

All rights reserved! Copyrights ©2019-2020 ExpertsMind IT Educational Pvt Ltd