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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.

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Fixed assets and equipment

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3 years ago
When a company exchanges 200 shares of stock worth $20 each for 100 shares worth $40 each, they are using?
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3 years ago
Production-based accounting is used to estimate gdp by​ ____________.
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3 years ago
A plant asset was purchased on January 1 for $140000 with an estimated salvage value of $20000 at the end of its useful life. Th
alukav5142 [94]

Answer:

useful life= 12 years

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