Tanner contributed $14,000 in cash plus office equipment valued at $7,000 to the JT Partnership. The...
Tanner contributed $14,000 in cash plus office equipment valued at $7,000 to the JT Partnership. The journal entry to record the transaction for the partnership is:
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Tanner contributed $14,000 in cash plus office equipment valued
at $7,000 to the JT Partnership. The...
Tanner contributed $14,000 in cash plus office equipment valued at $7,000 to the JT Partnership. The...
Tanner contributed $14,000 in cash plus office equipment valued at $7,000 to the JT Partnership. The journal entry to record the transaction for the partnership is:
Salary allowances. The ratio of capital investments. A fractional basis. Equal shares. Question 68 1 pts...
Salary allowances. The ratio of capital investments. A fractional basis. Equal shares. Question 68 1 pts R. Stetson contributed $14,000 in cash plus office equipment valued at $7,000 to the SJ Partnership. The journal effry to record the transaction for the partnership is: Debit Cash $14,000; debit Office Equipment $7,000; credit SJ Partnership, Capital $21,000. Debit Cash $14,000; debit Office Equipment $7,000; credit R Stetson, Capital $21,000. Debit R. Stetson, Capital $21,000: credit SJ Partnership, Capital $21,000. Debit Cash $14,000;...
April 1 Tanner invested $115,000 cash along with office equipment valued at $27,600 in the company....
April 1 Tanner invested $115,000 cash along with office equipment valued at $27,600 in the company. 2 The company prepaid $7,200 cash for twelve months' rent for office space. (Hint: Debit Prepaid Rent for $7,200) 3 The company made credit purchases for $13,800 in office equipment and $2,760 in office supplies Payment is due within 10 days. 6 The company completed services for a client and immediately received $2,000 cash. 9 The company completed a $9,200 project for a client,...
1 Tanner invested $100,000 cash along with office equipment valued at $24,000 in the company. 2...
1 Tanner invested $100,000 cash along with office equipment valued at $24,000 in the company. 2 The company prepaid $7,200 cash for 12 months' rent for office space. 3 The company made credit purchases for $12,000 in office equipment and $2,400 in office supplies. Payment is due within 10 days. 4 The company completed services for a client and immediately received $2,000 cash. 5 The company completed a $8,000 project for a client, who must pay within 30 days. 6...
Trevor Smith contributed equipment, inventory, and $49,000 cash to a partnership. The equipment had a book...
Trevor Smith contributed equipment, inventory, and $49,000 cash to a partnership. The equipment had a book value of $25,000 and a market value of $28,000. The inventory had a book value of $60,000, but only had a market value of $20,000, due to obsolescence. The partnership also assumed a $15,000 note payable owed by Smith that was used originally to purchase the equipment. Provide the journal entry for Smith's contribution to the partnership. If an amount box does not require...
Trevor Smith contributed equipment, inventory, and $49,000 cash to a partnership. The equipment had a book...
Trevor Smith contributed equipment, inventory, and $49,000 cash to a partnership. The equipment had a book value of $25,000 and a market value of $28,000. The inventory had a book value of $90,000, but only had a market value of $50,000, due to obsolescence. The partnership also assumed a $15,300 note payable owed by Smith that was used originally to purchase the equipment. Provide the journal entry for Smith's contribution to the partnership. If an amount box does not require...
a.Venedict invested $82,000 cash along with office equipment valued at $22,000 new business named HV Consulting...
a.Venedict invested $82,000 cash along with office equipment valued
at $22,000 new business named HV Consulting in exchange for common
stock. b. The company purchased land valued at $35,000 and a
building valued at $ 160,000. The purchase is paid with $25,000
cash and a long-term note payable for $170,000 c. The comparty
purchased $1700 of office supplies on credit d Venedict invested
her personal automobile in the company in exchange for more common
stock. The automobile has a value...
Cody Jenkins and Lacey Tanner formed a partnership to provide landscaping services. Jenkins and Tanner shared...
Cody Jenkins and Lacey Tanner formed a partnership to provide landscaping services. Jenkins and Tanner shared profits and losses equally. After all the tangible assets have been adjusted to current market prices, the capital accounts of Cody Jenkins and Lacey Tanner have balances of $77,900 and $34,800, respectively. Valeria Solano has expertise with using the computer to prepare landscape designs, cost estimates, and renderings. Jenkins and Tanner deem these skills useful; thus, Solano is admitted to the partnership at a...
Help Save & On March 1. Eckert and Kelley formed a partnership. Eckert contributed $74,000 cash,...
Help Save & On March 1. Eckert and Kelley formed a partnership. Eckert contributed $74,000 cash, and Kelley contributed land valued at $59.200 and a building valued at $89.200. The partnership also took Kelley's $64,000 long-term note payable associated with the land and building. The partners agreed to share income as follows: Eckert gets an annual salary allowance of $30,500 both aet an annual Interest allowance of 11% of their initial capital investment, and any remaining income or loss is...
Cody Jenkins and Lacey Tanner formed a partnership to provide landscaping service s and Tanner shared...
Cody Jenkins and Lacey Tanner formed a partnership to provide landscaping service s and Tanner shared profits and losses cout er the tablets have been used to current market prices, the capital accounts of Cody Jenkins and Lacey Tanne have balances of $41,000 and 53,000 resectively. Valeria Sonhas expertise with using the computer to prepare landscape designs, cost estimates, and renderings anks and over deem the skills thus, Salanes mitted to the partnership at a 30% interest for a purchase...
Salary allowances. The ratio of capital investments. A fractional basis. Equal shares. Question 68 1 pts R. Stetson contributed $14,000 in cash plus office equipment valued at $7,000 to the SJ Partnership. The journal effry to record the transaction for the partnership is: Debit Cash $14,000; debit Office Equipment $7,000; credit SJ Partnership, Capital $21,000. Debit Cash $14,000; debit Office Equipment $7,000; credit R Stetson, Capital $21,000. Debit R. Stetson, Capital $21,000: credit SJ Partnership, Capital $21,000. Debit Cash $14,000;...
April 1 Tanner invested $115,000 cash along with office equipment valued at $27,600 in the company. 2 The company prepaid $7,200 cash for twelve months' rent for office space. (Hint: Debit Prepaid Rent for $7,200) 3 The company made credit purchases for $13,800 in office equipment and $2,760 in office supplies Payment is due within 10 days. 6 The company completed services for a client and immediately received $2,000 cash. 9 The company completed a $9,200 project for a client,...
1 Tanner invested $100,000 cash along with office equipment valued at $24,000 in the company. 2 The company prepaid $7,200 cash for 12 months' rent for office space. 3 The company made credit purchases for $12,000 in office equipment and $2,400 in office supplies. Payment is due within 10 days. 4 The company completed services for a client and immediately received $2,000 cash. 5 The company completed a $8,000 project for a client, who must pay within 30 days. 6...
Trevor Smith contributed equipment, inventory, and $49,000 cash to a partnership. The equipment had a book value of $25,000 and a market value of $28,000. The inventory had a book value of $60,000, but only had a market value of $20,000, due to obsolescence. The partnership also assumed a $15,000 note payable owed by Smith that was used originally to purchase the equipment. Provide the journal entry for Smith's contribution to the partnership. If an amount box does not require...
Trevor Smith contributed equipment, inventory, and $49,000 cash to a partnership. The equipment had a book value of $25,000 and a market value of $28,000. The inventory had a book value of $90,000, but only had a market value of $50,000, due to obsolescence. The partnership also assumed a $15,300 note payable owed by Smith that was used originally to purchase the equipment. Provide the journal entry for Smith's contribution to the partnership. If an amount box does not require...
a.Venedict invested $82,000 cash along with office equipment valued
at $22,000 new business named HV Consulting in exchange for common
stock. b. The company purchased land valued at $35,000 and a
building valued at $ 160,000. The purchase is paid with $25,000
cash and a long-term note payable for $170,000 c. The comparty
purchased $1700 of office supplies on credit d Venedict invested
her personal automobile in the company in exchange for more common
stock. The automobile has a value...
Help Save & On March 1. Eckert and Kelley formed a partnership. Eckert contributed $74,000 cash, and Kelley contributed land valued at $59.200 and a building valued at $89.200. The partnership also took Kelley's $64,000 long-term note payable associated with the land and building. The partners agreed to share income as follows: Eckert gets an annual salary allowance of $30,500 both aet an annual Interest allowance of 11% of their initial capital investment, and any remaining income or loss is...
Cody Jenkins and Lacey Tanner formed a partnership to provide landscaping service s and Tanner shared profits and losses cout er the tablets have been used to current market prices, the capital accounts of Cody Jenkins and Lacey Tanne have balances of $41,000 and 53,000 resectively. Valeria Sonhas expertise with using the computer to prepare landscape designs, cost estimates, and renderings anks and over deem the skills thus, Salanes mitted to the partnership at a 30% interest for a purchase...
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