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pickupchik [31]
4 years ago
6

Henry Jones contributed equipment, inventory, and $57,300 cash to a partnership. The equipment had a book value of $27,800 and m

arket value of $34,100. The inventory had a book value of $46,700 but only had a market value of $10,400 due to obsolescence. The partnership also assumed a $14,900 note payable owed by Henry that was originally used to purchase the equipment. What amount should be recorded to Henry's capital account?
a.$86,900
b.$123,200
c.$146,700
d.$116,900
Business
1 answer:
Oliga [24]4 years ago
3 0

Answer:

A. $86,900

Explanation:

Henry’s capital account will be credited by the amount of $86,900. See computation below.

Cash $57,300

Equipment 34,100

Inventory 10,400

Note payable (14,900)

————

Total $86,900

*Both the equipment and the inventory will be recorded on partnership’s book at fair market value at the time of contribution.

*The partnership may absorb the obligation if it is associated with an asset contributed by partner. Thus, it will be deducted to his capital account as contribution to the partnership.

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At the East Haven Fire Department the stress of the situation, the dispatcher’s reaction to those situations, and the impact of
guapka [62]

Answer:

C. Emotional Literacy

Explanation:

At the East Haven Fire Department the stress of the situation, the dispatcher’s reaction to those situations, and the impact of those situations on job performance is an example of emotional literacy. Emotional literacy is the capability of a person to understand other people's feelings and express their own as well. This emotional literacy has been developed at the East Haven Department with the help of training. It enables a person to develop self-awareness of his or her emotions and feelings and then enabling that person that how to manage these emotions and feelings. It is very much needed in every organization and particularly at the East Haven Fire Department it is very needed.

5 0
3 years ago
Regardless of whether a business uses FIFO, LIFO, or weighted average cost for its inventory costing system, cost of goods avail
REY [17]

Answer:

Cost of goods available for sale must be allocated at the end of the period between ending inventory and cost of goods sold.

Explanation:

Cost of goods available for sale can be described as the <u>maximum amount</u> of inventory, stock, or goods that is possible for a firm to sell during an accounting period. It is the maximum amount because it is not possible for a firm to sell more than the cost of goods available for sale.

The cost of goods available for sale is obtained by adding beginning inventory and net purchases during an accounting period. This can be stated as follows:

COGAFS = BI + NP ............................... (1)

Where;

COGAFS = Cost of goods available for sale

BI = Beginning inventory

NP = Net purchases

At the end of an accounting period, ending inventory is deducted from the cost of goods available for sale to obtain cost of goods sold as follows:

COGS = COGAFS - EI ............................ (2)

Where;

COGS = Cost of goods sold

COGAFS = Cost of goods available for sale

EI = Ending inventory

Rearranging equation (2) and solve for COGAFS, we have:

COGFAS = COGS + EI ........................... (3)

Equation (3) therefore implies that the correct option is "cost of goods available for sale must be allocated at the end of the period between ending inventory and cost of goods sold".

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3 years ago
In a "Dutch auction" for new stock, individual investors place bids for shares directly. Each potential bidder indicates the pri
aivan3 [116]

Answer:

a

Explanation:

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For example, let's assume Company XYZ wants to sell 10 million shares using a Dutch auction. To participate in a Dutch auction, an investor typically opens an account with Company XYZ's underwriter (usually an investment bank), obtains a prospectus, and obtains an access code or bidder identification code (Dutch auctions often occur online).  

During bidding, investors indicate how many shares they're willing to buy and the price they're willing to pay. The underwriter, who acts as the auctioneer, usually starts the auction by offering a prohibitively high price for the security (say, $40 per share in this case). It then lowers the price gradually to say, $36 per share, where two bids come in for 500,000 shares. The underwriter then lowers the price again, this time to $35, and attracts 4,000,000 shares worth of bids. After lowering the price to $34, the underwriter gets another 5,000,000 shares worth of bids; then the underwriter lowers the price to $33 and gets another 3,000,000 in bids before the auction ends.

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3 years ago
The high entry barriers in a given industry​
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Answer:

<em>1</em><em>. </em><em>Economies of scale.</em>

<em>2</em><em>. </em><em>Capital requirements</em><em>.</em>

<em>3</em><em>. </em><em>Product differentiation. </em>

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kramer
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