When an accused person is allowed to present their case is

Recording partner's original investment Instructions Kimberly Payne and Arionna Maples decide to form a partnership by combining

levacccp [35]

Answer and Explanation:

The Journal entry is shown below:-

Cash A/c Dr, $20,000

Accounts Receivables A/c Dr, $140,000

($145,000 - $5,000)

Inventory A/c Dr, $101,700

Equipment A/c Dr, $81,200.

To Allowance for doubtful Accounts $4,400

To Payne's Capital A/c $338,500

(Being assets contributed by partner in business is recorded)

For recording the assets contributed by partner in business we simply debited the cash account, accounts Receivables, Inventory and Equipment as increase the assets while we credited the Allowance for doubtful Accounts as it decreasing the assets and Payne's Capital as increasing the stockholder equity.

7 0

3 years ago

Pharoah Corporation had the following activities in 2020. 1. Payment of accounts payable $843,000 4. Collection of note receivab

DIA [1.3K]

Answer:

The amount Pharoah should report as net cash provided (used) by financing activities in its 2020 statement of cash flows is $344,000.

Explanation:

Pharoah Corporation

Statement of cash flows (extract)

Proceeds from common stock $256,000

Proceed from bond payable $466,000

Dividend paid ($333,000)

Purchase of treasury stock ($45,000)

Net cash flows from financing activities $344,000

Note that the payment of accounts payable and collection of notes receivable only affect the operating activities section of the cash flows.

7 0

3 years ago

An investor company owns 30% of the common stock of an investee company. The investor has significant influence over the investe

MAVERICK [17]

Answer:

Income for investee during the year ended December 31th 2019: $ 17,200

Explanation:

Purchase value 525,000

Equity proportion: 1,500,000 30% = (450,000)

Goodwill 75,000

Transactions during the year:

income 60,000 x 30% = 18,000

dividends 15,000 x 30% = (4,500)

unrealized profit 2018:

30,000 = cost (1.25)

30,000 / 1.25 = 24,000

gross profit 6,000

unrealized gain: 6,000 x 30% = (1,800)

unrealized profit 2019:

40,000 = cost (1.25)

40,000/1.25 = cost

cost = 32,000

gross profit: 40,000 - 32,000 = 8,000

proportion of unrealized gain:

8,000 x 30% = (2,400)

profit for 2018 realized 1,800

net adjustment 600

<u></u>

<u>income from investee:</u>

18,000 - 600 (net unrealized gain) = 17,200

6 0

3 years ago

To sum up international trade theory, we can say that the primary reason for trade is

muminat

Answer:

The primary reason for trade is for the economic development of a country.

Explanation:

Trade makes a significant and necessary contribution to the economy and the country's development particularly in underdeveloped countries. The rapid progress of underdeveloped countries in the Industrial field is due to their exports. In most countries, such would represent a significant share of their gross domestic product (GDP).

6 0

3 years ago

1.05 the market place economic

aalyn [17]

A market economy serves as an economic system in which economic activities is been controlled by individuals.

<h3>What is market economy?</h3>

market economy serves as the economy that that gives country's individual citizens and businesses to be able to make decisions .

This decision could be pricing of goods and services which are been controlled by the interactions of a country's individual citizens.

COMPLETE QUESTION:

Explain market place economy

Learn more about market economy at:

brainly.com/question/11471834

#SPJ1

8 0

2 years ago