Already have an account? Get multiple benefits of using own account!
Login in your account..!
Remember me
Don't have an account? Create your account in less than a minutes,
Forgot password? how can I recover my password now!
Enter right registered email to receive password!
Account for partner investments
Robert Morris invests land in a partnership with Andy Phillips. Morris purchased the land in 2012 for $300,000. A real estate appraiser now values the land at $700,000. Morris wants $500,000 capital in the new partnership, but Phillips objects. Phillips believes that Morris's capital investment should be measured by the book value of his land. Phillips and Morris seek your advice.
Requirements
1. Which value of the land is appropriate for measuring Morris's capital-book value or current market value?
2. Give the partnership's journal entry to record Morris's investment in the business.
The office space is used equally by dye's sales and accounting departments. What amount of the above-listed items should be classified as general and administrative expenses in dye's multiple-step income statement?
She will continue to show this generosity for 20 years, giving a total of 20 payments. If the interest rate is 5%, what is her promise worth today?
Why there is no gain for the transaction.
forest outfitters is a retailer that is preparing its budget for the upcoming fiscal year. management has prepared the
at the beginning of september 2011 abc co. reported merchandise inventory of 4000. during the month the company made
In determining the primary responsibility of the external auditor for a company's financial statements, the auditor owes primary allegiance to:
using the appropriate interest table compute the present values of the following periodic amounts due at the end of the
Which of the following would an auditor most likely use in determining the auditor's preliminary judgment about materiality?
in may of this year mary-mark enterprises a business that uses the calendar year as its tax reporting year acquired a
A company reports the following beginning inventory and purchases for the month of January. On January 26, the company sells 360 units. What is the cost of the 155 units that remain in ending inventory at January 31
Compute the break-even point expressed in total revenue. A patient-day is often used to measure the volume of a hospital. Suppose there are to be 50,000 patient-days next year. Compute the average daily revenue per patient-day necessary to break ev..
Why should the accounting for the lessor be different depending on whether the residual value is guaranteed or unguaranteed? Couldn't they just "adjust" the depreciation expense at the end of the term if the lessee does not pay the residual?
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!
whatsapp: +1-415-670-9521
Phone: +1-415-670-9521
Email: [email protected]
All rights reserved! Copyrights ©2019-2020 ExpertsMind IT Educational Pvt Ltd