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Sonbull [250]
3 years ago
7

Horton invests personally owned equipment, which originally cost $110,000 and has accumulated depreciation of $30,000 in the Hor

ton and Matile partnership. Both partners agree that the fair value of the equipment was $60,000. The entry made by the partnership to record Horton's investment should be
Business
1 answer:
Zarrin [17]3 years ago
6 0

Answer:

Dr Equipment $60,000

Cr. Horton, capital $60,000

Explanation:

Based on the information given we were told that Both of the partners agree that the fair value of the equipment was the amount of $60,000 which means that The appropiate journal entry made by the partnership to record Horton's investment should be:

Dr Equipment $60,000

Cr. Horton, capital $60,000

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Use the following information to determine the break-even point in sales dollars: Unit sales 50,000 Units Dollar sales $ 500,000
Keith_Richards [23]

Answer:

The correct answer is B.

Explanation:

Giving the following information:

Unit sales 50,000

Units Dollar sales $ 500,000

Fixed costs $ 204,000

Variable costs $ 187,500

First, we need to calculate the unitary selling price and variable cost:

Unitary Selling price= 500,000/50,000= $10

Unitary variable cost= 187,500/50,000= $3.75

Break-even point (dollars)= fixed costs/ contribution margin ratio

Break-even point (dollars)= 204,000/ [(10 - 3.75)/10]= $326,400

6 0
3 years ago
Calculate the current balance on your checking account if the previous balance was $129.32. You wrote checks for $59.73 and $32.
Ksju [112]
The balance would be $790.87
4 0
3 years ago
Read 2 more answers
On December 31, Strike Company sold one of its batting cages for $20,084. The equipment had an initial cost of $223,162 and had
Anna35 [415]

Answer:

Loss on disposal = $2232

Explanation:

To calculate the amount of gain or loss on sale, we must first calculate the net book value or NBV of the asset. The net book value is the difference between the cost of the asset and the accumulated depreciation. The formula for NBV is as follows,

NBV = Cost - Accumulated depreciation

NBV = 223162 - 200846

NBV = 22316

If the sales proceeds are more than the NBV of the asset, the asset is sold on gain and vice versa.

Loss on disposal = 20084 - 22316 = - $2232 or$2232 loss

8 0
3 years ago
The current yield curve for default-free zero-coupon bonds is as follows:
Vesna [10]

Answer:

A) the implied 1 year forward rates respectively 9,8 , 11,81 and 13,83 according to the formular

Explanation:

b) pure expactations true then

1.108²/1.098 - 1 =11.81% for a two year bond

1.118²/1.108 - 1 = 12.81% for a three year bond

The answere: The will be a shift upwards in next years curve.

c) Assume a par of 1000

in the next year a two year zero coupon bond will be a year zero and sell at 1000/1.1181 = 894.37 to get the return we take divide selling prices at year zero the trading price according to ytm is 1000/1.108² =814.55

therefore expected return  894.37/814.55= 9.79%

c2 the zero coupon bond at three year zero is trading at 1000/1.1282 = 886.446 and according to the ytm the coupon is trading at 1000/13.83^3= 715.607

therefore the expected return is

785.711/715.607=9.79%

3 0
3 years ago
As a functional area of business, _____ measures, summarizes, and communicates financial and managerial information and advises
IgorLugansk [536]

Answer: Accounting

Explanation:  

 Accounting is one of the business process that helps in interpreting and identifying the various types of financial data in an organization or corporation.

 The main objective of the accounting is that it manage all the financial based performance in the company and also the cash flows system in the business.

 According to the given question, the accounting is known as the functional area that summarized the data or information and also give advises to the manager on the various types of financial based matters in an organization.  

 Therefore, Accounting is the correct answer.

3 0
3 years ago
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