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
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.

You might be interested in
Yuto owns a souvenir shop in Tokyo. He wants to reach English speaking tourists in his city during certain hours of the day. Whi
vesna_86 [32]

Answer:

Location targeting

Ad scheduling

Language targeting

Explanation:

Yuto try three new and improve methods, Location targeting , Ad scheduling ,Language targeting to reach English speaking tourists.

By using these techniques, Yuto focus on specific target and specific location for target his tourist .

7 0
3 years ago
1. Explain how 'Returns to Scale' and 'Law of Diminishing Returns' would affect cost in a manufacturing company.​
Solnce55 [7]

Law of diminishing return has a positive relationship with marginal cost

Explanation:

The law of diminishing returns implies that marginal cost will rise as output increases. Eventually, rising marginal cost will lead to a rise in average total cost.

7 0
2 years ago
Gary's Pets hired a managerial accountant to help forecast the company's expenses and income for its first year in business. Thi
zimovet [89]

Answer:  The Annual report is the financial plan of Garys's Pets of moving strategy from Point A to Point B over for the year.

Explanation:

Every company furnishes and publishes its Annual Report for the public review per year. It can be considered as the Report which is formulated with the help of four subreports produced in each quarterly period. Point A is the stage of implementation of project of many plans. Then when the company achieves its target and then it can release a strong financial statement of the Annual Report.

The Annual Report not only administers the actual scenario of business development, but it also exhibits the good reputation of the company to attract more customers by adopting powerful business strategies.

7 0
3 years ago
What journal should a company uses to capture cash transactions?
alexira [117]
I think it is (The Cash<span> Payments </span><span>Journal)  

</span>
7 0
3 years ago
Consider these long-term investment data: • The price of a 10-year $100 par zero-coupon inflation-indexed bond is $84.49. • A re
AleksAgata [21]

Answer:

Annual rate 0.017

Explanation:

Computation of the annual rate on the real bond.

Using this formula

Annual rate = Par Zero coupon inflation index/(1+r) ^Numbers of years =Inflation-indexed bond

Let plug in the formula

Annual rate=100 / (1 + r) ^10 = 84.49

Annual rate= (100 / 84.49)^1 /10 − 1

Annual rate=(1.18357)^0.1-1

Annual rate=1.016-1

Annual rate=0.017

Therefore the annual rate of return will be 0.017

3 0
3 years ago
Read 2 more answers
Other questions:
  • Clyde is a cash-method taxpayer who reports on a calendar-year basis. This year Paylate Corporation has decided to pay Clyde a y
    7·1 answer
  • Arreaga Corp. has a tax rate of 40 percent and income before non-operating items of $928,000. It also has the following items (g
    5·1 answer
  • Roland is filing his federal income tax return with the 1040ez form, and he received two w-2 forms. on one, $2620 in federal inc
    6·2 answers
  • Aviation Systems sells its products with a three-year manufacturing warranty. The company's sales revenue is $600,000. Based on
    15·1 answer
  • When calculating the inventory turnover at cost, the first step is to calculate A. Cost of goods sold B. Average inventory at re
    6·2 answers
  • If a sole proprietorship fails, the owner of the business will _______
    10·1 answer
  • Which of the following would occur if a firm chose not to hold inventory for a given product?
    12·1 answer
  • Marko, Inc., is considering the purchase of ABC Co. Marko believes that ABC Co. can generate cash flows of $5,200, $10,200, and
    5·1 answer
  • Lidell Inc. budgeted production of 48,000 personal journals in 20Y6. Each journal requires assembly. Assume that three minutes a
    10·1 answer
  • What is a contributing factor to the varied levels of economic development across the eastern mediterranean sub-region?
    12·1 answer
Add answer
Login
Not registered? Fast signup
Signup
Login Signup
Ask question!