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Brilliant_brown [7]
3 years ago
13

Terry, nick, and frank are forming the doctor partnership. terry is transferring $30,100 of personal cash and equipment worth $2

5,100 to the partnership. nick owns land worth $17,600 and a small building worth $75,100, which he transfers to the partnership. there is a long-term mortgage of $19,900 on the land and building, which the partnership assumes. frank transfers cash of $7,100, accounts receivable of $36,300, supplies worth $3,600, and equipment worth $22,100 to the partnership. the partnership expects to collect $31,300 of the accounts receivable.
Business
1 answer:
Leni [432]3 years ago
6 0
Balance Sheet

Assets

Current Assets
Cash 37200
Accounts Receivable 36300
Less: Allowance for Doubtful Accounts (5000) [Computation: 36300-31300)
Supplies 3600
Total Current Assets 72100

Property, Plant, and Equipment
Land 17600
Building 75100
Equipment 47200
Total Property, Plant, and Equipment 139900
Total Assets $212000

Liabilities
Long term Liabilities
Mortagage Payable 19900

Owner's Equity
Terry, Capital 55200
Nick, Capital 72800
Frank, Capital 64100

Total Owner's Equity 192100
Total Liabilities and Owner's Equity $212000
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7 0
3 years ago
In order to minimize project risks, which step comes after the step of identifying risks?
Katarina [22]

Evaluating risks

Once risks are identified you determine the likelihood and consequence of each risk. You develop an understanding of the nature of the risk and its potential to affect project goals and objectives. This information is also input to your Project Risk Register.

4 0
3 years ago
The level of the Baring market index is 22,300 at the start of the year and 26,800 at the end. The dividend yield on the index i
marshall27 [118]

Answer: 24.48%

Explanation:

Return on the index over the year is calculated by;

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= 4.3% + (26,800 - 22,300) / 22,300

= 24.48%

8 0
3 years ago
Consider the following costs incurred in a recent period:Direct Materials $33,000Depreciation on Factory Equipment $12,000Factor
asambeis [7]

Answer:

$37,000

Explanation:

The following costs were incurred in a recent period

Direct Materials $33,000

Depreciation on Factory Equipment $12,000

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Therefore, the total amount of period cost can be calculated as follows

Total amount of period costs = Selling expenses + administrative expenses

= $16,000 + $21,000

= $37,000

Hence the total amount of period costs for the above period is $37,000

4 0
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What should Ryan do in order to get more traffic for his products is to increase the budget cap of the campaign, this will have a benefit towards their goal because if there is enough budget cap, they may gain advantages in terms of having their products to be as much and to be sold to wide variety of consumers, increasing order for their product.

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3 years ago
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