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ludmilkaskok [199]
3 years ago
15

Gullett Corporation had $34,000 of raw materials on hand on November 1. During the month, the Corporation purchased an additiona

l $83,000 of raw materials. The journal entry to record the purchase of raw materials would include a:
Business
1 answer:
lapo4ka [179]3 years ago
8 0

Answer:

A decrease in price

Explanation:

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Cox, North, and Lee form a partnership. Cox contributes $201,000, North contributes $167,500, and Lee contributes $301,500. Thei
Masteriza [31]

Answer:

Lee's portion of income =$81, 900

Explanation:

<em>The income or loss would be shared according to the ratio of capital contributed. The ratio is the proportion of capital contribute per partner to the total pool of capital.</em>

Lee;s portion of income

= lees capital/total capital × reported income

= 301,500/(201,000+167,500+ 301,500)  × 182,000

= $81, 900

Lee's portion of income =$81, 900

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3 years ago
Shontelle owns an apartment house that has an adjusted basis of $760,000 but is subject to a mortgage of $192,000. She transfers
Alex787 [66]

Answer:

(a) $332,000

(b) $312,000

(c) $760,000

Explanation:

(a) Her realized gain or loss

Mathematically, Realized gain or loss = Amount realized - Adjusted Basis = (120000 + 780000 + 192000) - 760000.

= 1092000 - 760000

= $ 332000

(b) Her Recognized gain.

Mathematically, her recognized gain = Amount received in cash + Amount received in Mortgage = 120,000 + 192,000 = $312,000

(c) Basis of newly acquired office Building.

Mathematically:

Basis of newly acquired building = Fair market value of building - (realized gain - recognized gain) = (780,000)-(332,000-312,000) = 780,000-20,000 = $760,000

8 0
3 years ago
The Success GPA has three parts: Awareness Power, Social Power, and Solution Power.
MAVERICK [17]

That is  "True".

They are known as powers since they increment your ability to prevail in all everyday issues. Awareness Power is the capacity to consider our lives, made up of abilities, qualities, and assets. Social Power is interfacing with others and making a great informal community and Solution Power is utilized to comprehend difficulties and conquer deterrents, worked through inventiveness, influence, and adaptability. That is Success GPA.

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3 years ago
Oral evidence in contract disputes is prohibited by:
Aleksandr-060686 [28]
There is a rule that states that oral evidence is prohibited in those cases. The law is called The parol evidence rule. This is a common law that prevents a party from presenting evidence that discloses abmiguities and clarifies it. It also prohibits adding something to the terms of the contract. 
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3 years ago
Question 5 of 10 The tax rate. percentage paid on income taxes is called the marginal O A fixed O B. incremental O C. total O D.
VladimirAG [237]
The answer would be C
6 0
3 years ago
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