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katrin2010 [14]
3 years ago
13

As part of the initial investment, Ray Blake contributes equipment that had originally cost $96,100 and on which accumulated dep

reciation of $72,075 has been recorded. If similar equipment would cost $164,400 to replace and the partners agree on a valuation of $47,900 for the contributed equipment, what amount should be debited to the equipment account
Business
1 answer:
Delicious77 [7]3 years ago
7 0

Answer: $47,900

Explanation:

From the question, we are told that part of the initial investment, Ray Blake contributes equipment that had originally cost $96,100 and on which accumulated depreciation of $72,075 has been recorded.

We are further told that assuming similar equipment would cost $164,400 to replace and the partners agree on a valuation of $47,900 for the contributed equipment, we are told to calculate the amount that would be debited to the equipment account.

It should be noted that in a partnership, when the partners contribute an asset, during the recording of the asset in the partnership book, it is recorded based on the agreed valuation price.

In this case, the partners agree on a valuation of $47,900 for the contributed equipment. Therefore, the amount that should be debited to the equipment account will be $47,900.

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Explanation:

Short-term investments, also known as marketable securities or temporary investments, are those which can easily be converted to cash, typically within 5 years. ... Some common examples of short term investments include CDs, money market accounts, high-yield savings accounts, government bonds and Treasury bills.

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Once a business owner proves that a franchise is successful, his or her franchise will automatically be renewed True or False?
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Giant Company has three products, A, B, and C. The following information is available:
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Answer:

$24,000

Explanation:

                             Product A      Product B     Product C

sales                        70,000            97000

Variable  cost           37000            51000

Contribution margin 33000            46000

Avoidable cost          10,000           20000

Unavoidable cost       7000             12000         9400

Operating income      16000            14000

Total operating income if product C is dropped is (16000+14000 +3400-9400)

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7 0
3 years ago
The stockholders’ equity section of Blue Spruce Corp.’s balance sheet consists of common stock ($8 par) $1,104,000 and retained
Ne4ueva [31]

Answer:

Only the retained earning changed from $460,000 before the dividend payment to $211,600 after the dividend payment. The total shareholders' equity remain at $1,564,000 before and after the dividend payment.

Explanation:

Note: The two questions (a) and (b) in the question are the same and they just one question which is answered as follows:

Before dividend  payment

Common Stock = $1,104,000

Shares outstanding = $1,104,000 ÷ 8 = 138,000  

Retained earning = $460,000

Total Stockholders' Equity = $1,104,000 + $460,000 = $1,564,000

After Dividend

Shares outstanding  = 138,000 + (138,000 × 10%) = 138,000 + 13,000 = 151,800

Common Stock = $1,104,000 + (13,800 × 8) = $1,104,000 + $110,400 = $1,214,400

In excess of par value = 0 + (13,800 × 10) = $138,000

Total Paid-In Capital = $1,214,400  + $138,000 =  $1,352,400

Retained Earnings = $460,000 - (13,800 × 18) = $460,000 - 248,400 = $211,600

Total Stockholders' Equity = $1,352,400 + $211,600 = $1,564,000

Concluding Note

From the above, only the retained earning changed from $460,000 before the dividend payment to $211,600 after the dividend payment. The total shareholders' equity remain at $1,564,000 before and after the dividend payment.

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Two important trends in the labor force participation rates of adults aged 20 and over in the United States since 1948 are the​
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Answer: D) rising;falling

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Two important trends in the labor force participation rates of adults aged 20 and over in the United States since 1948 are the​ rising labor force participation rate of adult women and the​ falling labor force participation rate of adult men.

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3 years ago
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