Homework Answers
Above question is about journal entry of derr investment. Refer
below image for solution.
Add Answer to:
Mike Derr and Mark Finger form a partnership by combining assets of their separate businesses. The...
Mike Derr and Mark Finger form a partnership by imbinjng assets of their separate businesses. The...
Mike Derr and Mark Finger form a partnership by imbinjng
assets of their separate businesses. The following balance sheet
information is provided by Derr from his sole proprietorship.
12 Homework Problem 12-1A Recording partnership formation LO P1 Miace Der and Mark Finger form a partnership by combining assets of ther separate businesses. The following balance sheet information is provided by Derr from his sole proprietorship s 1,96 Accounts payable 3,900 Notes payable $15,500 Lessi Accumulated depreciation-Equip 4.900 M Derr Capital...
Problem 12-1A Recording partnership formation LO P1 Mike Derr and Mark Finger form a partnership by...
Problem 12-1A Recording partnership formation LO P1 Mike Derr and Mark Finger form a partnership by combining assets of their separate businesses. The following balance sheet is from Derr's sole proprietorship. The market value of Derr's equipment is $6,100 and the market value of land is $9,100. Balance Sheet Assets Cash Supplies Equipment Accumulated depreciation-Equip. Land Total assets Liabilities Accounts payable Notes payable Total liabilities Equity M. Derr, Capital Total liabilities and equity $ 2,100 4,100 $ 16,500 (13,400) 3,100...
Please answer in this format Problem 12-1A Recording partnership formation LO P1 Mike Derr and Mark...
Please answer in this format
Problem 12-1A Recording partnership formation LO P1 Mike Derr and Mark Finger form a partnership by combining assets of their separate businesses. The following balance sheet is from Derr's sole proprietorship. The market value of Derr's equipment is $6,300 and the market value of land is $9,300. Balance Sheet Assets Cash Supplies Equipment Accumulated depreciation-Equip. Land Total assets Liabilities Accounts payable Notes payable Total liabilities Equity M. Derr, Capital Total liabilities and equity $ 2,300...
No need to explain, please I beg just solve everything, would be greatly appreciated (thumbs up)!...
No need to explain, please I beg just solve
everything, would be greatly appreciated (thumbs up)!
:)
Mike Derr and Mark Finger form a partnership by combining assets of their separate businesses. The following balance sheet is from Derr's sole proprietorship. The market value of Derr's equipment is $5,300 and the market value of land is $8,300. Balance Sheet $ 4,800 Assets Cash Supplies Equipment Accumulated depreciation-Equip. Land Total assets Liabilities Accounts payable Notes payable Total liabilities Equity M. Derr,...
DUUN Hannah Freeman and and Hugo Hernandez form a partnership by combining assets of their former...
DUUN Hannah Freeman and and Hugo Hernandez form a partnership by combining assets of their former businesses. The following balance sheet information is provided by Freeman, sole proprietorship: Hannah Freeman Proprietorship Balance Sheet June 1, 2013 Cash $56,600 Accounts receivable Less: Allowance for doubtful accounts $106,400 6,200 100,200 255,000 Land Equipment Less: Accumulated depreciation-equipment $99,000 61,100 37,900 Total assets $449,700 $31,700 Accounts payable Notes payable 92,000 Hannah Freeman, capital 326,000 Total liabilities and owner's equity $449,700 Freeman obtained appraised values...
Jesse and Tim form a partnership by combining the assets of their separate businesses. Jesse contributes...
Jesse and Tim form a partnership by combining the assets of their separate businesses. Jesse contributes accounts receivable with a face amount of $47,000 and equipment with a cost of $178,000 and accumulated depreciation of $102,000. The partners agree that the equipment is to be valued at $68,400, that $4,000 of the accounts receivable are completely worthless and are not to be accepted by the partnership, and that $2,200 is a reasonable allowance for the uncollectibility of the remaining accounts...
Jesse and Tim form a partnership by combining the assets of their separate businesses. Jesse contributes...
Jesse and Tim form a partnership by combining the assets of their separate businesses. Jesse contributes accounts receivable with a face amount of $45,000 and equipment with a cost of $182,000 and accumulated depreciation of $97,000. The partners agree that the equipment is to be valued at $68,400, that $3,700 of the accounts receivable are completely worthless and are not to be accepted by the partnership, and that $2,200 is a reasonable allowance for the uncollectibility of the remaining accounts...
Jesse and Tim form a partnership by combining the assets of their separate businesses. Jesse contributes...
Jesse and Tim form a partnership by combining the assets of their separate businesses. Jesse contributes accounts receivable with a face amount of $45,000 and equipment with a cost of $175,000 and accumulated depreciation of $103,000. The partners agree that the equipment is to be valued at $67,600, that $4,000 of the accounts receivable are completely worthless and are not to be accepted by the partnership, and that $2,400 is a reasonable allowance for the uncollectibility of the remaining accounts...
Barton and Fallows form a partnership by combining the assets of their separate businesses. Barton contributes...
Barton and Fallows form a partnership by combining the assets of their separate businesses. Barton contributes accounts receivable with a face amount of $46,000 and equipment with a cost of $192,000 and accumulated depreciation of $104,000. The partners agree that the equipment is to be valued at $87,000, that $3,900 of the accounts receivable are completely worthless and are not to be accepted by the partnership, and that $1,300 is a reasonable allowance for the uncollectibility of the remaining accounts...
Jesse and Tim form a partnership by combining the assets of their separate businesses. Jesse contributes...
Jesse and Tim form a partnership by combining the assets of their separate businesses. Jesse contributes accounts receivable with a face amount of $46,000 and equipment with a cost of $182,000 and accumulated depreciation of $105,000. The partners agree that the equipment is to be valued at $68,400, that $3,000 of the accounts receivable are completely worthless and are not to be accepted by the partnership, and that $2,300 is a reasonable allowance for the uncollectibility of the remaining accounts...
Mike Derr and Mark Finger form a partnership by imbinjng
assets of their separate businesses. The following balance sheet
information is provided by Derr from his sole proprietorship.
12 Homework Problem 12-1A Recording partnership formation LO P1 Miace Der and Mark Finger form a partnership by combining assets of ther separate businesses. The following balance sheet information is provided by Derr from his sole proprietorship s 1,96 Accounts payable 3,900 Notes payable $15,500 Lessi Accumulated depreciation-Equip 4.900 M Derr Capital...
Problem 12-1A Recording partnership formation LO P1 Mike Derr and Mark Finger form a partnership by combining assets of their separate businesses. The following balance sheet is from Derr's sole proprietorship. The market value of Derr's equipment is $6,100 and the market value of land is $9,100. Balance Sheet Assets Cash Supplies Equipment Accumulated depreciation-Equip. Land Total assets Liabilities Accounts payable Notes payable Total liabilities Equity M. Derr, Capital Total liabilities and equity $ 2,100 4,100 $ 16,500 (13,400) 3,100...
Please answer in this format
Problem 12-1A Recording partnership formation LO P1 Mike Derr and Mark Finger form a partnership by combining assets of their separate businesses. The following balance sheet is from Derr's sole proprietorship. The market value of Derr's equipment is $6,300 and the market value of land is $9,300. Balance Sheet Assets Cash Supplies Equipment Accumulated depreciation-Equip. Land Total assets Liabilities Accounts payable Notes payable Total liabilities Equity M. Derr, Capital Total liabilities and equity $ 2,300...
No need to explain, please I beg just solve
everything, would be greatly appreciated (thumbs up)!
:)
Mike Derr and Mark Finger form a partnership by combining assets of their separate businesses. The following balance sheet is from Derr's sole proprietorship. The market value of Derr's equipment is $5,300 and the market value of land is $8,300. Balance Sheet $ 4,800 Assets Cash Supplies Equipment Accumulated depreciation-Equip. Land Total assets Liabilities Accounts payable Notes payable Total liabilities Equity M. Derr,...
DUUN Hannah Freeman and and Hugo Hernandez form a partnership by combining assets of their former businesses. The following balance sheet information is provided by Freeman, sole proprietorship: Hannah Freeman Proprietorship Balance Sheet June 1, 2013 Cash $56,600 Accounts receivable Less: Allowance for doubtful accounts $106,400 6,200 100,200 255,000 Land Equipment Less: Accumulated depreciation-equipment $99,000 61,100 37,900 Total assets $449,700 $31,700 Accounts payable Notes payable 92,000 Hannah Freeman, capital 326,000 Total liabilities and owner's equity $449,700 Freeman obtained appraised values...
Barton and Fallows form a partnership by combining the assets of their separate businesses. Barton contributes accounts receivable with a face amount of $46,000 and equipment with a cost of $192,000 and accumulated depreciation of $104,000. The partners agree that the equipment is to be valued at $87,000, that $3,900 of the accounts receivable are completely worthless and are not to be accepted by the partnership, and that $1,300 is a reasonable allowance for the uncollectibility of the remaining accounts...
Most questions answered within 3 hours.
-
Oxidative phosphorylation is achieved through chemiosmotic
coupling, which turns chemical energy into osmotic potential energy
that...
asked 2 hours ago -
Hollywood Shoes would like to maintain their cash account at a
minimum level of $64,000, but...
asked 2 hours ago -
Proteins CtrA-P, DnaA, and GcrA behave similarly to what
molecule in the Eukaryotic Cell Cycle?
asked 2 hours ago -
TRUE OR FALSE
In case of a competitive tender procedure, in the request for
quotation, the...
asked 2 hours ago -
I am a little behind please provide some explanation, will
provide thumbs up.
This question considers...
asked 2 hours ago -
Let say the utility function as U(X,Y) = lnX + Y. Show that the
marginal rate...
asked 2 hours ago -
A current of I=8.0A is flowing in a typical extension cord of
length L=3.00m. The cord...
asked 2 hours ago -
1. When balancing the equation H2SO4 (aq) + NaOH (aq) →
Na2SO4(aq) + H2O(aq), would you...
asked 3 hours ago -
Provide a definition of “classification hierarchy” and
illustrate your definition with an example of how and...
asked 2 hours ago -
1. Describe the four main green solvents. Provide one example of
the use of each solvent....
asked 3 hours ago -
International ethics focus on:
1) exploitation of labor
2)corruption
3) environmental impact
4) none of the...
asked 3 hours ago -
Costing Models You work for XYZ trucking and your boss has asked
you to figure out...
asked 3 hours ago