1answer.
Ask question
Login Signup
Ask question
All categories
  • English
  • Mathematics
  • Social Studies
  • Business
  • History
  • Health
  • Geography
  • Biology
  • Physics
  • Chemistry
  • Computers and Technology
  • Arts
  • World Languages
  • Spanish
  • French
  • German
  • Advanced Placement (AP)
  • SAT
  • Medicine
  • Law
  • Engineering
babunello [35]
3 years ago
13

The first entry to liquidate a partnership would probably include

Business
2 answers:
Lorico [155]3 years ago
8 0
Property will not added when it liquidate
prisoha [69]3 years ago
7 0

The correct answer to your question is:

A debit to Cash, a debit or credit to Loss or Gain from Realization, and a credit to Individual Assets Sold.

You might be interested in
HELP ASAP FOR BRAINLIEST ****
Mrac [35]
Okay well I got you.
The first answer is: When unemployment is low, businesses have to compete  more for workers, forcing wages up. Higher wages increases labor costs.
The second answer is: As inflation accelerates, workers may supply labor in the short term because of higher wages- leading to a decline in the unemployment rate.
The third answer is: I don't know this one sorry :(
The fourth answer is: I don't know this one either.
Sorry i wasn't much help...:(
7 0
3 years ago
Mercury Inc. purchased equipment in 2019 at a cost of $497,000. The equipment was expected to produce 580,000 units over the nex
Ivan

Answer:

1.

Gain or (Loss) on sale = (17000)  Loss

2.

Cash                                                     253600 Dr

Accumulated Depreciation               226400 Dr

Loss on Sale                                        17000 Dr

         Equipment                                         497000 Cr

3.

Gain or (Loss) on sale = 9400 Gain

4.

Cash                                                    280000 Dr

Accumulated Depreciation              226400 Dr

         Gain on Sale                                      9400 Cr

         Equipment                                         497000 Cr

Explanation:

We first need to calculate the carrying value of the equipment at the date of disposal. The carrying value is calculated as follows,

Carrying value = Cost  -  Accumulated depreciation

Depreciation 2019  =  (497000 - 33000) * 83000 / 580000

Depreciation 2019  = 66400

Depreciation 2020  =  (497000 - 33000) * 133000 / 580000

Depreciation 2020  = 106400

Depreciation 2021  =  (497000 - 33000) * 67000 / 580000

Depreciation 2021  = 53600

Carrying value = 497000  -  [ 66400 + 106400 + 53600 ]

Carrying value = $270600

1.

Gain or (Loss) on sale = Sales price  -  Carrying Value

Gain or (Loss) on sale = 253600  -  270600

Gain or (Loss) on sale = (17000)  Loss

2.

Cash                                                     253600 Dr

Accumulated Depreciation                226400 Dr

Loss on Sale                                        17000 Dr

         Equipment                                         497000 Cr

3.

Gain or (Loss) on sale = Sales price  -  Carrying Value

Gain or (Loss) on sale = 280000  -  270600

Gain or (Loss) on sale = 9400 Gain

4.

Cash                                                    280000 Dr

Accumulated Depreciation                226400 Dr

         Gain on Sale                                      9400 Cr

         Equipment                                         497000 Cr

6 0
3 years ago
Nothing can stay the same
alexandr402 [8]

Answer:

:-) -,-

Explanation:

thanks thanks appreciate it

6 0
3 years ago
Read 2 more answers
List the four stages of ability developement
vova2212 [387]
-Sensorimotor. Birth through ages 18-24 months.
-Preoperational. Toddlerhood (18-24 months) through early childhood (age 7)
-Concrete operational. Ages 7 to 11.
-Formal operational. Adolescence through adulthood.
8 0
2 years ago
Read 2 more answers
Define federal deposit insurance corporation apush
agasfer [191]
<span>The FDIC is an entity that provides insurance to personal banking accounts up to $5,000. These assured people that their money was safe and secure. This agency still functions today. It was created in 1933 as part of the </span>Emergency Bank Relief Act which <span>allowed a plan that would close down insolvent banks and reorganize and reopen those banks strong enough to survive</span>
7 0
3 years ago
Other questions:
  • Sienna Company has the following information for January. Cost of direct materials used in production $20,000 Direct labor 15,00
    13·1 answer
  • Blue Water Boats is considering a new project with perpetual cash inflows of $435,000, cash costs of $310,000, and a tax rate of
    6·1 answer
  • After a customer buys a computer or receives service from Top Computers and Service, a service representative contacts each cust
    7·1 answer
  • Developing countries fall into two categories, moderately developed and less developed. Which of the following is not classified
    6·1 answer
  • Find the present value that will grow to $45,000 if interest is 3.6% compounded monthly for 1 year.
    12·1 answer
  • Computing Basic and Diluted Earnings per Share Soliman Corporation began the year 2018 with 25,000 shares of common stock and 5,
    10·1 answer
  • Suppose that there are two industries, A and B. There are five firms in industry A with sales at $5 million, $2 million, $1 mill
    11·1 answer
  • During 2020, Dyrdek’s Skate Shop, Inc., had a cash flow to creditors of –$60,000 and the cash flow to stockholders for the year
    8·1 answer
  • _____ typically includes information on the customers served, why the company exists, what the company does, the value received
    15·1 answer
  • Your campus computer store reported Sales Revenue of $175,000. The company's gross profit percentage was 65 percent. What amount
    15·1 answer
Add answer
Login
Not registered? Fast signup
Signup
Login Signup
Ask question!