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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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Answer:

(D) $369.31 to $380.69

Explanation:

The formula is x ± t (s/√n)

x = 375

t = 2.010

s = 20

n = 50

Then,

375 ± 2.010 (20/√50)

= 375 ± 5.69

8 0
3 years ago
According to world-systems theory, the global economic system must be approached as a single ________ unit, not as a collection
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Answer: (A) Capitalist

Explanation:

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Therefore, Option (A) is correct.  

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3 years ago
Data concerning a recent period’s activity in the Prep Department, the first processing department in a company that uses proces
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Answer and Explanation:

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= $32,572.80

For conversion = 930 × $6.23

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= $38,366.70

b. The computation of cost of the units completed and transferred out for materials, conversion, and in total is shown below:-

For material = 21,700 × $15.66

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For Conversion = 21,700 × $6.23

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3 0
3 years ago
New items developed for automobiles in the 1997 model year included a safer air bag, which, unlike previous air bags, eliminated
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Answer:

(E) inflated to make

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There is a grammatical error, in the sentence as for the words:

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As the event discussed is related to the past that is already it happened that the bag got inflated to make the passenger who is already terrified think, that the car is on fire.

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2 years ago
Everyone likes to have Lydia working on their committees because she seems to have the unique ability to consider a variety of o
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Answer:

c. convergent thinking

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