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Verizon [17]
3 years ago
12

Brief Exercise 12-1 Barbara Ripley and Fred Nichols decide to organize the ALL-Star partnership. Ripley invests $27,000 cash, an

d Nichols contributes $18,000 cash and equipment having a book value of $6,300. Prepare the entry to record Nichols’s investment in the partnership, assuming the equipment has a fair value of $9,000.
Business
1 answer:
Marysya12 [62]3 years ago
8 0

Answer:

The journal entry is as follows:

Cash A/c Dr. $18,000

Equipment (Fair value) A/c Dr. $9,000

           To N's  capital                            $27,000

(To record the investment bought by Nichols)

Workings:

Cash contributed by Nichols = $18,000

Equipment's Book value = $6,300

Fair value of equipment = $9000

Nichols capital = $18,000 + $9,000

                         = $27,000

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<h3>What is the role of retailing in the buying process?</h3>

Retailing refers to the set of activities that allow for  consumers to be able to access goods and services that were produced by different companies and brands. The process of retailing often comes in the final phases of the buying project as it involves the consumers who are the end stage of the buying process as they are the ones to consume the goods and services being sold.

Retailing is therefore hugely important because it connects the brands to the consumers that they serve . Without retailing, companies would make products and services and be unable to sell them to anyone as they would not have any connection to the final consumers .

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1 year ago
A firm has a current price of $40 a share, an expected growth rate of 11 percent and expected dividend per share (D1) of $2. Giv
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Answer:

d. 16% - buy

Explanation:

R = (D1 / P0) + g

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Expected Return = R = ($2/$40) + 11%

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Over the past 100 years or so, Binney and Smith's Crayola crayons have become household staples in more than 80 countries around
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Answer: Maturity stage

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Answer:

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Companies using the process costing approach accumulate and assign costs to mass production of a good. Instead, job order costing assigns costs of manufacturing to individual units of production. In process costing, the costs are reported from one department involved in manufacturing to another following the production process. On the other hand, in job order costing, the costs are reported in job cost cards as they are being used.

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One sign of transition to a mixed-market economy is the establishment of..
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