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LuckyWell [14K]
3 years ago
8

Two individuals who were previously sole proprietors form a partnership. Property other than cash that is part of the initial in

vestment in the partnership is recorded for financial accounting purposes at theA)Proprietors' book values of the property on the date of the investment.B)Proprietors' book values or the property's fair value on the date of the investment, whichever is higher.C)Proprietors' book values or the property's fair value on the date of the investment, whichever is lower.D)Property's fair value at the date of the investment.
Business
1 answer:
UNO [17]3 years ago
7 0

Answer:

D) Property's fair value at the date of the investment.

Explanation:

When new business is formed from closing the old one, all assets are recorded at fair value.

Thus, all the assets other than cash shall be recorded at their respective fair values in the new business which is a partnership, as the cost or historical value will not display their proportional contributions properly.

Therefore, correct statement is

D) Property's fair value at the date of the investment.

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Mark Weinstein has been working on an advanced technology in laser eye surgery. His technology will be available in the near ter
Zina [86]

Answer:

<u>PV = 2,464,749.47</u>

Explanation:

Perptuities = ammount/ (rate - growth)

175,000/(0.097-0.038) = $2,966,101.695

This value is two years from the present day.

Notice:<em> "it will be received two years from today"</em>

<em>So we need to adjusted to bring it to present</em>

<em>\frac{Principal}{(1 + rate)^{time} } = PV</em>

\frac{2,966,101.695}{(1 + 0.097)^{2} } = PV

<u>PV = 2,464,749.47</u>

5 0
3 years ago
Edgar, the production manager at a textile factory, has noticed a decline in the production capacity of the factory. He wants to
jek_recluse [69]

Answer:

A. Identifying and defining the problem

Explanation: Before taking any action in a production environment one must be able to identify and define the problem.

Problem identification and defining is first approach to solving problems as it gives a clear picture of what and how the problem is,when it started and the possible threats it pose to the business entity.

When a manager wants to address a problem, he should first identify the problem,carry out steps that will help him or her to define what the problem is,through this he or she can be able to develop possible solutions.

4 0
3 years ago
Green Valley Steel had sales of $1,000,000 and collections of $760,000, leaving a balance of $240,000 in accounts receivable as
enyata [817]

Answer and Explanation:

Debit bad debt expense for $40,000 and credit allowance for uncollectible accounts for $40,000

3 0
3 years ago
Read 2 more answers
People who use white hat SEO tactics try to trick the search engine into thinking a website has high-quality content, when in fa
kiruha [24]

Answer:

False

Explanation:

White hat SEO is also called simply SEO and it is the practice of improving content of a website using approved Google search engine optimisation techniques.

Search engine optimisation is the process by which content of a website are made to be of high quality. Search engines rank web content based on how relevant they are to the enquiry made.

The more relevant the content the higher it ranks on search engines.

However black hat SEO techniques are used to fool search engines into thinking the content is of high quality. Practices such as keyword stuffing is a black hat technique which is penalised by Google.

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3 years ago
What tools can you use consistently use to resolve value conflicts?​
7nadin3 [17]

Answer:

Value conflicts can be defined as the issues which arose when the standard or predicted results are not achieved.

Explanation:

In an organization, a values conflict might arise if decisions are made or actions taken that result in compromising a stated value. Tools to resolve value conflicts.

Ignorance: Ignorance can be useful sometimes. If a mistake is too small which  can be ignored or which has not that much affect on the concern topic then it is necessary to ignore.

Mediate it: Sometimes, the small or unnecessary things turn into a big issue which can be dangerous if not mediate properly. Thus correct and timely mediation is a required factor to resolve value conflict.

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