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
seropon [69]
3 years ago
14

The partners in the biz partnership have agreed that partner mandy may sell her $100,000 equity in the partnership to brittney,

for which brittney will pay mandy $85,000. Prepare the partnership's journal entry to record the sale of mandy's interest to brittney on september 30.
Business
1 answer:
Ivahew [28]3 years ago
3 0

Answer:

Mandy Capital                     A/c   Dr.  $100,000

Brittney Capital                  A/c    Cr.                     $100,000

Explanation:

Mandy selling $100,000 shares of assets, so we will report the transaction on the sale of stock by the amount of equity sold. Now, all parties will negotiate the price that one can sell to another for this equity valuation, which would be $85,000 in this case.

You might be interested in
A positive result from the scientific management approach is an increase in _______ productivity.
nirvana33 [79]
A. Social thats the answer

6 0
2 years ago
Read 2 more answers
P1 returns goods previously purchased on credit from P2.
natali 33 [55]
The correct answer is d
8 0
3 years ago
Consider an economy that only produces two goods: DVDs and DVD players. Last year, 10 DVDs were sold at $20 each and 5 DVD playe
dangina [55]

Answer:

$4,000

Explanation:

Given that,

Last year:

DVDs sold = 10

Selling price of each DVD = $20

DVD players sold = 5

Selling price of each DVD player = $100

This year:

DVDs sold = 150

Selling price of each DVD = $10

DVD players sold = 10

Selling price of each DVD player = $60

Real GDP:

= (No. of DVDs sold this year × Selling price of each DVD last year) + (No. of DVD players sold this year × Selling price of each DVD player last year)

= (150 × $20) + (10 × $100 )

= 3,000 + 1,000

= $4,000.

3 0
3 years ago
On january 1, 2016, knapp corporation acquired machinery at a cost of $1,250,000. knapp adopted the double-declining balance met
Annette [7]
Cost on January 1 2016 = $1,250,000
Life = 10 years

Therefore,
Double-declining depreciation rate = 2*(1,250,000/10)/1,250,000 = 2*0.1 = 2*10% = 20%
Book value at end of 2016 = 1,250,000 - (1,250,000*20/100) = $1,000,000
Book value at end of 2017 = 1,000,000 - (1,000,000*20/100) = $800,000
Book value at end of 2018 = 800,000 - (800,000*20/100) = $640,000

Changing to straight line depreciation:
Life remaining = 7 years
Book value = $640,000

Depreciation expense per year = 640,000/7 = $91,428.57

Therefore, depreciation expense for 2019 = $91,428.57

5 0
2 years ago
When people have insurance against a certain event, the notion that those people are less likely to guard against that event occ
sp2606 [1]

Answer: When people have insurance against a certain event, the notion that those people are less likely to guard against that event occurring is called a <u>moral hazard.</u>

Explanation: Moral hazard happens frequently in cases of insurance. If a person has a house, they can decide to install a vault because it reduces the risk of being robbed;

However, when the same person has arranged an insurance that covers the risk of theft of the house, they will have fewer incentives than in the previous situation, to install the security door and ultimately it will be able to increase the probability of the loss in this Theft case. This behavior, for example, before insurance coverage is called moral hazard.

4 0
3 years ago
Other questions:
  • Which of the following is true of both paying with a check and paying with a debit card?
    5·1 answer
  • How do entrepreneurs contribute to the nation socially
    6·1 answer
  • Travis bought a share of stock for $31.50, the stock paid a dividend of $0.85, and Travis sold it six months later for $27.65. W
    9·1 answer
  • Last​ year, the price of steak was ​$4 per pound and the price of salmon was ​$5 per pound.       This​ year, the price of steak
    9·1 answer
  • The government provides _____ to increase competition in the marketplace.
    5·2 answers
  • The investor-supplied items—debt, preferred stock, and common equity—are called capital components. Increases in assets must be
    7·1 answer
  • The seller of a dry cleaning business has agreed not to open another dry cleaning business for two years within a one-mile radiu
    13·1 answer
  • The principal-agent problem arises when ________.
    7·1 answer
  • Risser Woodworking Corporation produces fine cabinets. The company uses a job-order costing system in which its predetermined ov
    14·1 answer
  • This video speeds through over 10 common mistakes people make that leave them open to identity theft. list at least 5 of them he
    5·1 answer
Add answer
Login
Not registered? Fast signup
Signup
Login Signup
Ask question!