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prisoha [69]
4 years ago
5

Dave Krug contributed $1,000 cash along with inventory and land to a new partnership. The inventory had a book value of $800 and

a market value of $2,000. The land had a book value of $1, 400 and market value of $5,000. The partnership also accepted a $3,000 note payable owed by Krug to a creditor. Prepare the partnership's journal entry to record Krug's investment.
Business
1 answer:
pav-90 [236]4 years ago
6 0

Answer:

cash                 1,000 debit

inventory        2,000 debit

land                5,000 debit

note payable             3,000 credit

Krug capital Account 5,000 credit

Explanation:

The land and inventories will be accepted at his market value.

Along with cash this are assets which enter the partnership so they are debited.

The note payable decreases the Krug capital contribution. It is credited.

Krug capital account balance will be to complete the entry and make debit = credit.

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Mary Jane is a very conservative businesswoman by day. However, when she decides to "go out on the town," she likes to party and
amid [387]

Answer: have multiple selves

Explanation:

These multiple selves describes the different versions or possibilities of being. For example, one may decide to rebuke himself of a particular deed, the same person accepts his fault, feels sober and try to work things out all by himself. Here, he has exhibited the version of the one who blames, also as shown the version of the person who is to be blame, the version of the one who accepted his fault, feels sober and probably planning to turn a new leaf.

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4 years ago
One difference between straight-line and double-declining-balance depreciation methods is that:
mafiozo [28]
If the options are:
A) Straight-line method will fully depreciate the asset more quickly.
B) Double-declining-balance method will fully depreciate the asset more quickly.
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8 0
3 years ago
When developing a ____ plan, the project team should work with managers in affected operating departments, and the contents of t
geniusboy [140]

When developing a transition plan, the project team should work with managers in affected operating departments, and the contents of the plan should be tailored to fit the support needs of the project

<u>Explanation:</u>

A Transition Plan is practiced to handle the transformation from a current organizational state to a new state. The transition plan recognizes the team qualified for a prosperous transition, the tools, and the methodologies needed. It also involves contingency preparation and risk reduction.

An impression statement is formed in the plan that sketches the potential consequence of the transition to the current infrastructure, services and support team, and the users. Adequate knowledge transfer is important for the stable transition from implementation to sustaining.

4 0
3 years ago
What is the value of x in the equation 1/3 X - 2/3 = -18?
Deffense [45]

The value of x is -52.

6 0
3 years ago
Foxx Corp.'s comparative balance sheet at December 31, 2021 and 2020 reported accumulated depreciation balances of $1,245,000 an
Lina20 [59]

Answer:

a. 363000

Explanation:

depreciation expense for the year = accumulated depreciation 2018 - accumulated depreciation 2017 + asset's book value - asset's sales price = $1,245,000 - $900,000 + $75,000 - $57,000 = $363,000

an asset's book value (carrying value) = purchase cost - accumulated depreciation of the asset

6 0
4 years ago
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