Homework Answers
Please find below the solution.. let me know if you need any clarification..
correct answer is option C) $53400.
Building will be recorded at fair market value and at which the Kelsey capital account will be credited. Therefore answer is option C.
Add Answer to:
Use the information below to answer the question that follow. Sandra and Kelsey are forming a...
Library Hours W2Ownch + signmental Assignment Main.dok ta AssignmentSessionlocatorinprogress-false Use the information below tow er the...
Library Hours W2Ownch + signmental Assignment Main.dok ta AssignmentSessionlocatorinprogress-false Use the information below tow er the question that follow above 500 and a t $18.000 Sandra and Key are forming a partnership. Sandra vest piece of equipment will invest a building with a book value of $40,000 and afar market value of $44.000 y's capital account? What amount will be recorded to $24.000 Ob. 40.000 14.000 6. 4.000 back
if there is no written agreement as to the way income will be divided among partners...
if there is no written agreement as to the way income will be
divided among partners
Fall 2019 Library Hours Monderhede f $7,500 and fair market value of $18.000, Calculator Use the information below to answer the question that follow Sandra and k ey are forming a purtres . Sandra i invest a piece of equipment with a book o will invest a bunding with a book value of $40,000 and ma k e of $40,000 What amount will be...
QUESTION 2 10 points Save Answer Wright Company purchased a new piece of equipment to use...
QUESTION 2 10 points Save Answer Wright Company purchased a new piece of equipment to use in its business. The details of the purchase and related costs are as follows: 1. Purchase price of equipment $140,000 2. Installation of equipment 12,000 3. Freight costs (FOB shipping point) 2,000 4. Annual salary of new employee hired to operate the equipment 40,000 5. Increase in the annual cost of the fire and theft insurance policy 1,000 to cover the new equipment Determine...
nt/takeAssignmentMain.dožinvoker-&takeAssignmentSessionLocator-assignment-take&inprog Calculator Use the information below for Harding Company to answer the question that follow. Harding...
nt/takeAssignmentMain.dožinvoker-&takeAssignmentSessionLocator-assignment-take&inprog Calculator Use the information below for Harding Company to answer the question that follow. Harding Company Accounts payable Accounts receivable Accrued liabilities Cash Intangible assets Inventory Long-term investments Long-term liabilities Marketable securities Notes payable (short-term) Property, plant, and equipment Prepaid expenses Based on the data for Harding Company, what is the amount of quick assets? Oa. $55,781 Ob. $120,357 Oc. $1,605,484 Od. $798,062 $27,541 64,576 6,249 16,440 44,175 81,104 102,070 76,269 39,341 22,565 661,177 2,017
Multiple-Choice Exercise 7-1 Anniston Company purchased equipment and incurred the following costs: Purchase price $52,000 Cost...
Multiple-Choice Exercise 7-1 Anniston Company purchased equipment and incurred the following costs: Purchase price $52,000 Cost of trial runs 750 Installation costs 250 Sales tax 2,600 What is the cost of the equipment? Oa. $52,000 Ob. $54,600 Oc. $54,850 Od. $55,600 Multiple-Choice Exercise 7-2 The cost principle requires that companies record tangible capital assets at: Oa. fair value. Ob. book value. Oc. historical cost. d. market value. Multiple-Choice Exercise 7-3 When depreciation expense is recorded each period, what account is...
Answer the follow accounting questions:1. Expenditures that are recorded as expenses when incurred arecalled:...
Answer the follow accounting questions:1. Expenditures that are recorded as expenses when incurred are called:a)Capital ExpendituresB) REvenue expendituresC)research and development costsD)intangible expensitures2)Expenditures for Plant Assets that will be used by a company for more than one year are termed:a)Capital ExpendituresB) REvenue expendituresC)research and development costsD)intangible expensitures3. Tangible property intended to b e used by a company for more than one year would be labeled asa)Capital ExpendituresB) REvenue expendituresC)research and development costsD)intangible expensitures4. To adjust the value of a planet asset,...
If annual major repairs made in the first quarter and paid for in the second quarter...
If annual major repairs made in the first quarter and paid for in the second quarter clearly benefit the entire year, when should they be expensed? An allocated portion in each of the last three quarters 1. a. An allocated portion in each quarter of the year In full in the first quarter In full in the second quarter b. c. d. During the second quarter of 2011, Dodge Company sold a 2. piece of equipment at a gain of...
It is based on the multiple-choice question pasted below. Use the current 21 percent tax rate....
It is based on the multiple-choice question pasted below. Use the current 21 percent tax rate. (28) in the current year, Acom, Inc., had the following items of income and expense! Sales $500,000 Cost of sales 250,000 Dividends received 25,000 The dividends were received from a corporation of which Acom owns 30%. In Acom's current yoar income tax rotum, what amount should be reported as income before special deductions? A. $525.000 B. $508,750 C. $275,000 D. $250.000 The correct answer...
Ch 1 1. Given the following dat Dec 31 Year 2 Dec 31 Year 1 Total...
Ch 1 1. Given the following dat Dec 31 Year 2 Dec 31 Year 1 Total liabilities S128,250 $120,000 Total stockholders oquity 95.000 80.000 compute the ratio of liabilities to stockholders' equity for each year Round to two decimal places 1.50 and 107, 11.35 and 1.50 respectively respectively 1.07 and 1.19. 1.1.19 and 1.35 respectively respectively The liabilities and stockholder's equity of a company are $132,000 and $244.000, respectively. Assets should equal SS188.00 $132.00 p $376,00 12.000 A financial statement...
Please read the article and answer about questions. You and the Law Business and law are...
Please read the article and answer about questions. You and the Law Business and law are inseparable. For B-Money, the two predictably merged when he was negotiat- ing a deal for his tracks. At other times, the merger is unpredictable, like when your business faces an unexpected auto accident, product recall, or government regulation change. In either type of situation, when business owners know the law, they can better protect themselves and sometimes even avoid the problems completely. This chapter...
Library Hours W2Ownch + signmental Assignment Main.dok ta AssignmentSessionlocatorinprogress-false Use the information below tow er the question that follow above 500 and a t $18.000 Sandra and Key are forming a partnership. Sandra vest piece of equipment will invest a building with a book value of $40,000 and afar market value of $44.000 y's capital account? What amount will be recorded to $24.000 Ob. 40.000 14.000 6. 4.000 back
if there is no written agreement as to the way income will be
divided among partners
Fall 2019 Library Hours Monderhede f $7,500 and fair market value of $18.000, Calculator Use the information below to answer the question that follow Sandra and k ey are forming a purtres . Sandra i invest a piece of equipment with a book o will invest a bunding with a book value of $40,000 and ma k e of $40,000 What amount will be...
QUESTION 2 10 points Save Answer Wright Company purchased a new piece of equipment to use in its business. The details of the purchase and related costs are as follows: 1. Purchase price of equipment $140,000 2. Installation of equipment 12,000 3. Freight costs (FOB shipping point) 2,000 4. Annual salary of new employee hired to operate the equipment 40,000 5. Increase in the annual cost of the fire and theft insurance policy 1,000 to cover the new equipment Determine...
nt/takeAssignmentMain.dožinvoker-&takeAssignmentSessionLocator-assignment-take&inprog Calculator Use the information below for Harding Company to answer the question that follow. Harding Company Accounts payable Accounts receivable Accrued liabilities Cash Intangible assets Inventory Long-term investments Long-term liabilities Marketable securities Notes payable (short-term) Property, plant, and equipment Prepaid expenses Based on the data for Harding Company, what is the amount of quick assets? Oa. $55,781 Ob. $120,357 Oc. $1,605,484 Od. $798,062 $27,541 64,576 6,249 16,440 44,175 81,104 102,070 76,269 39,341 22,565 661,177 2,017
Multiple-Choice Exercise 7-1 Anniston Company purchased equipment and incurred the following costs: Purchase price $52,000 Cost of trial runs 750 Installation costs 250 Sales tax 2,600 What is the cost of the equipment? Oa. $52,000 Ob. $54,600 Oc. $54,850 Od. $55,600 Multiple-Choice Exercise 7-2 The cost principle requires that companies record tangible capital assets at: Oa. fair value. Ob. book value. Oc. historical cost. d. market value. Multiple-Choice Exercise 7-3 When depreciation expense is recorded each period, what account is...
If annual major repairs made in the first quarter and paid for in the second quarter clearly benefit the entire year, when should they be expensed? An allocated portion in each of the last three quarters 1. a. An allocated portion in each quarter of the year In full in the first quarter In full in the second quarter b. c. d. During the second quarter of 2011, Dodge Company sold a 2. piece of equipment at a gain of...
It is based on the multiple-choice question pasted below. Use the current 21 percent tax rate. (28) in the current year, Acom, Inc., had the following items of income and expense! Sales $500,000 Cost of sales 250,000 Dividends received 25,000 The dividends were received from a corporation of which Acom owns 30%. In Acom's current yoar income tax rotum, what amount should be reported as income before special deductions? A. $525.000 B. $508,750 C. $275,000 D. $250.000 The correct answer...
Ch 1 1. Given the following dat Dec 31 Year 2 Dec 31 Year 1 Total liabilities S128,250 $120,000 Total stockholders oquity 95.000 80.000 compute the ratio of liabilities to stockholders' equity for each year Round to two decimal places 1.50 and 107, 11.35 and 1.50 respectively respectively 1.07 and 1.19. 1.1.19 and 1.35 respectively respectively The liabilities and stockholder's equity of a company are $132,000 and $244.000, respectively. Assets should equal SS188.00 $132.00 p $376,00 12.000 A financial statement...
Most questions answered within 3 hours.
-
A second baseman tosses the ball to the first baseman, who
catches it at the same...
asked 5 minutes ago -
An object rests flat on a tablecloth, which is on top of a
table. Suppose you...
asked 5 minutes ago -
Which of the following will most likely occur as the result of
an unanticipated increase in...
asked 2 minutes ago -
Adria Lopez, owner of Success Systems, decides to prepare a
statement of cash flows for her...
asked 24 minutes ago -
The reach and involvement of the federal government, in terms of
its role in disaster relief,...
asked 27 minutes ago -
Problem: The equilibrium constant, Keq, is 5 x 10^-11 m HCO3
<-----------> H^+ + CO3^-2 Calculate...
asked 34 minutes ago -
Explain how blackbody radiation led to the idea of "quanta."
Will rate answer!
asked 40 minutes ago -
Two noble gases (Ne and He) are injected into the chambers of an
insulated container. Each...
asked 35 minutes ago -
Suppose you purchase a zero coupon bond with a face value of
$1,000, maturing in 18...
asked 39 minutes ago -
Do you believe that the $785,000 amount at the center of the
Overstock-Grant Thornton dispute was...
asked 41 minutes ago -
Find and , the mean and standard deviation of the
sampling distribution of :
μ = 25,...
asked 1 hour ago -
According to the manufacturer of a certain candy, 9% of the
candy produced are red. If...
asked 1 hour ago