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Dovator [93]
3 years ago
4

Vanessa Kaiser and Mariah Newman decide to form a partnership by combining the assets of their separate businesses. Kaiser contr

ibutes the following assets to the partnership: cash, $25,800; accounts receivable with a face amount of $187,600 and an allowance for doubtful accounts of $5,400; merchandise inventory with a cost of $118,900; and equipment with a cost of $175,800 and accumulated depreciation of $58,200. The partners agree that $6,000 of the accounts receivable are completely worthless and are not to be accepted by the partnership, that $5,700 is = reasonable allowance for the uncollectibility of the remaining accounts, that the merchandise inventory is to be recorded at the current market price $131,400, and that the equipment is to be valued at $104,900.
Required:
Journalize the partnership's entry to record Kaiser's investment.
Business
1 answer:
iragen [17]3 years ago
7 0

Answer:

Date    Accounts title and Explanation               Debit         Credit

           Cash                                                         $25,800

           Account receivables(187,600-6,000)    $182,200

           Merchandise Inventory                           $118,900

           Equipment                                                $104,900

                   Allowance for Doubtful Accounts                        $5,700

                   Kaiser, Capital                                                       $426,100

           (To record Kaiser Investment in Partnership Entity)  

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Answer:

The company should provide, in average, 90 jobs per month in order to break even.

Explanation:

We will assume that the variable costs are proportional to the quantity and thus VC=a*Q

the profit obtained is

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and the total costs are

total costs= FC+VC = FC + a*Q , FC=fixed costs

in order to break even the quantity sold should be enough to cover all costs, therefore

profit = total costs

P*Q = FC + a*Q → Q= FC/(P-a)

thus

Q= FC/(P-a) = $3240 / ($60/job - $24/job) = 90 jobs

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2 years ago
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What are the two characteristics of public goods? is u.s. border control a public good or a private good? why? how about satelli
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1 year ago
A stock has a beta of 1.4, an expected return of 17.2 percent, and lies on the security market line. A risk-free asset is yieldi
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Answer:

the portfolio's return will be Ep(r)= 9.2 %

Explanation:

if the stock lies on the security market line , then the expected return will be

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Ep(r) = expected return of the portfolio

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then

Ep(r) = rf + β*( E(M)- rf)

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replacing values

E(M) = (Ep(r) - rf ) / β + rf

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