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Robert Johnson contributed equipment, inventory, and $42,000 cash to the partnership. The equipment had a book value of $25,000 and market value of $28,000. The inventory has a book value of $50,000, but only had a market value of $15,000 due to obsolescence. The partnership also assumed a $12,000 note payable owed by Robert that was originally used to purchase the equipment. What amount should Robert's capital account be recorded?
at each calendar year-end mazie supply co. uses the percent of accounts receivable method to estimate bad debts. on
nationwide company manufactures three products from a common input in a joint processing system. joing processing costs
saturn inc. which uses a predetermined overhead rate based on direct labor hours estimated total overhead for the year
The county then will make yearly lease payments (of principal and interest) to repay the obligation. Unlike conventional municipal bonds, the lease payments are not binding obligations on the county and, therefore, require no voter approval.
compute the inventorial costs for the year.
Bernice dies, and under a will, passes real estate to her surviving husband. The real estate is subject to a mortgage. For estate tax purposes, how will any marital deduction be determined? Can Bernice's estate deduct the mortgage under 2053? Expl..
helix company produces several products in its factory including a karate robe. the company uses a standard cost system
stewart company sold 180 units 320 each on october 31 2012. cash selling and administrative expenses were 15000. the
explain why it is important to analyze eah financial transaction of a business and to report it in the accounting
what is the best way to handle manufacturing overhead costs in order to get the most timely job cost information? a.
Al's Car Wash purchased a piece of equipment on October 1, 20x7, for $27,000. The equipment has an estimated life of four years or 40,000 units of production and an estimated residual value of $2,000.
which of the following statements best describes segmenting in contrast to combining?a segmenting tends to focus more
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