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
Crazy boy [7]
3 years ago
12

Isis and Kelsey are forming a partnership. Isis will invest a piece of equipment with a book value of $7,500 and a fair market v

alue of $18,000. Kelsey will invest a building with a book value of $40,000 and a fair market value of $44,000.
Required:
a. What amount will be recorded to Isis's capital account?
Business
2 answers:
asambeis [7]3 years ago
8 0

Answer:

$18,000

Explanation:

The amount that should be recorded to Isis's capital account is the fair market value of the assets acquired by her, regardless of the book value. Since Isis bought a piece of equipment with a fair market value of $18,000, and that is her only known contribution in the partnership, the amount that should be recorded to Isis's capital account is $18,000.

WITCHER [35]3 years ago
6 0

Answer:

$18000 will be recorded to Isis's capital account.

Explanation:

Although Isis's book value is $7500, but Isis's contribution will be considered at fair market value which is $18000.

You might be interested in
Help fast! Ed and Maria’s gross monthly income is $3,700 and monthly debt is $2,500. What is their debt-to-income ratio to the n
Inessa05 [86]
I think the answer is gonna be A
7 0
3 years ago
Read 2 more answers
Johnson Co. has 1,000,000 euros as payables due in 30 days, and is certain that the euro is going to appreciate substantially ov
SCORPION-xisa [38]

Based on the fact that the Euro will appreciate, the best thing for Johnson Co. to do is to e.purchase euros forward.

<h3>What should Johnson Co. do?</h3>

The fact that the Euro is going to appreciate in value means that Johnson Co. will have to pay more in future.

They should therefore lock in a favorable Euro rate now by purchasing Euros at a forward rate.

Find out more on purchasing forward at brainly.com/question/14090802.

#SPJ12

5 0
2 years ago
In an activity-based costing system, what should be used to assign a department’s manufacturing overhead costs to products produ
kicyunya [14]

Answer: Multiple cause-and- effect relationship should be used

Explanation:

A multiple cause-effect relationship is a relationship in which an event (the cause) makes another event happen (the effect).

A particular cause can have several effects.

7 0
3 years ago
What does setting a personnel policy before hiring employees allow you to do?
jonny [76]

Answer:

D

As it helps in appraising the employees weekly, monthly, or yearly work behavior.

4 0
3 years ago
he following cost data pertain to the operations of Montgomery Department Stores, Inc., for the month of July. Corporate legal o
maxonik [38]

Answer:

Explanation:

1) Total direct costs for the Apparel Department $128750:

Total Direct costs of Apparel Department  

Apparel Department cost of sales - Evendale store $105,600

Apparel Department sales commission - Evendale store $11,350

Apparel Department manager's salary - Evendale store $11,800

Direct costs  $128,750

2) Total direct costs for the Evendale Department $173,800:

Apparel Department cost of sales - Evendale store $105,600

Store manager's salary - Evendale store $12,300

Apparel Department sales commission - Evendale store $11,350

Store utilities - Evendale store $19,200

Apparel Department manager's salary - Evendale store $11,800

Janitorial cost - Evendale store $13,550

Direct costs - Evendale store $173,800

3) Total direct costs for the Apparel Department that are also variable costs- $116950 :

Apparel Department cost of sales - Evendale store $105,600

Apparel Department sales commission - Evendale store $11,350

Direct variable costs - Apparel Department $116,950

4 0
3 years ago
Other questions:
  • List and briefly describe the 6 major processes involved in risk management.
    15·1 answer
  • The Joint Task Force (JTF) commander cannot dictate cooperation among other governmental agencies, intergovernmental organizatio
    9·1 answer
  • Other than the economic indicators discussed in this chapter, what are some other data items that might be used to measure busin
    10·1 answer
  • The main purpose of the Comprehensive Environmental Response, Compensation, and Liability Act of 1980 is to allow private citize
    15·1 answer
  • On October 1, Gala Corporation has 300 units of Product XYZ on hand. The company plans to sell 1,200 units of Product XYZ during
    8·1 answer
  • Colliers, Inc., has 100,000 shares of cumulative preferred stock outstanding. The preferred stock pays dividends in the amount o
    13·1 answer
  • Walther owns a home in flood-prone Paradise Basin. If there is no flood the home and land together will be worth $2400. If there
    9·1 answer
  • A company is considering replacing an old piece of machinery, which cost $105,000 and has $55,000 of accumulated depreciation to
    6·1 answer
  • A graphical analysis of tariffs reveals that Multiple Choice they benefit domestic consumers at the expense of domestic producer
    6·1 answer
  • a tech company decides to pay dividends to shareholders out of its net earnings. this will decrease its
    15·2 answers
Add answer
Login
Not registered? Fast signup
Signup
Login Signup
Ask question!