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1. Josh Beach contributed land, inventory, and $24,000 cash to a partnership. The land had a book value of $65,000 and a market value of $114,000. The inventory had a book value of $60,000 and a market value of $56,000. The partnership also assumed a $50,000 note payable owed by Beach that was used originally to purchase the land. Provide the journal entry for Beach's contribution to the partnership.
Will the bond interest expense reported in 2011 be the same as, greater than, or less than the amount that would be reported if the straight-line method of amortization were used?
pert corporation manufactures state-of-the-art dvd players. it is a division of vany tv which manufactures televisions.
rocky mountain corporation makes two types of hiking boots-xactive and the pathbreaker. data concerning these two
The president of Blue Moon Corp. and her department managers are reviewing the operating results of the year just completed. Sales increased by 12% from the previous year to $750,000. Average total assets for the year were $400,000. Net income, af..
the cost accountant for blue pharmaceuticals has informed you that the companys materials quantity variance for the
Capitalization of Interest Vania Magazine Company started construction of a warehouse building for its own use at an estimated cost of $5,000,000 on January 1, 2009, and completed the building on December 31, 2009.
as at december 31-2012 a company has total assets of 3500 current assets of 1500 and fixed assets of 2000 debt of 2250
Francisco Company has 10 employees, each of whom earns $ 2,800 per month and is paid on the last day of each month.
during febuary the production department of a process manufacturing system completed a number of units of a porduct and
the management of an amusement park is considering purchasing a new ride for 72000 that would have a useful life of 8
What is the formal definition in the glossary of the term "Current Assets?" Provide one drill-down reference from the Master Glossary for where the term "Current Assets" is used in the Codification.
sliver lumber company handles three principal lines of merchandise with these varying rates of gross profit on
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