Prepared journal entries relating to the hip hop associates

Assignment Help Accounting Basics

Reference no: EM131761820

Question: Salt and pepa formed a partnership called hip hop associates on January 1, 2016. Salt transfers to the partnership cash of $60,000 equipment whose origins cost was $40,000 and whose accumulated depreciation is $20,000 but whose fair market value is $13,000 and $3,000 of supplies. Pepa contributes $90,000 in cash and merchandise inventory which originally cost her $18,000 but whose fair market value on 1/1/16 was $9,000. Prepared all the necessary journal entries relating to the formation of hip hop associates.

Reference no: EM131761820

Questions Cloud

Evolution of western culture and nations : Describe the evolution of Western culture and nations in the early 19th century. Be sure to focus on at least one major nation or cultural set of kingdoms

Analyze a mnc and present its current organizational chart : Analyze a multinational company and present its current organizational chart. Provide your rationale for the changes made including why it is efficient.

Discuss feedback results in higher grades for all students : Providing detailed and constructive feedback results in higher grades for all students

The universal declaration of human rights : Using the situations of women around the world as a case study, explain why it is so hard to develop a universal standard of human rights.

Prepared journal entries relating to the hip hop associates : Salt and pepa formed a partnership called hip hop associates on January 1, 2016. Salt transfers to the partnership cash of $60,000 equipment whose origins.

Would workers in australia accept the taylorism : Activity 1: Ford and Taylorism - Would workers in Australia, America or Europe accept the Taylorism in this form today

What are the key management challenges you will face : MGT220. Information Technology - Why is it important to take into account the views of operations, marketing, finance, and legal when working on strengthening

How will you address the differences with global hr needs : Concentrate on the changes you will need to make for global promotion efforts. How will you address the differences with Global HR needs?

Discuss how can abc be used to improve profitability : Explain why ABC often reveals existing product cost cross-subsidization problems. How can ABC be used to improve profitability

User Account

All Pages