Business

4 September, 07:15

Sandra and Kelsey are forming a partnership. Sandra will invest a piece of equipment with a book value of $7,500 and a fair market value of $18,000. Kelsey will invest a building with a book value of $40,000 and a fair market value of $44,000. What amount will be recorded to the building account? a.$24,000 b.$44,000 c.$14,000 d.$40,000

+3

Answers (1)

Know the Answer?

Not Sure About the Answer?

Find an answer to your question 👍 “Sandra and Kelsey are forming a partnership. Sandra will invest a piece of equipment with a book value of $7,500 and a fair market value of ...” in 📗 Business if the answers seem to be not correct or there’s no answer. Try a smart search to find answers to similar questions.

Search for Other Answers

You Might be Interested in

How are the critical assumptions of the resource-based model of a firm fundamentally different from the way in which a firm is viewed in the perfectly competitive industry structure?

A firm sells two products, Regular and Ultra. For every unit of Regular the firm sells, two units of Ultra are sold. The firm's total fixed costs are $1,682,000. Selling prices and cost information for both products follow.

Pretzelmania, Inc., issues 7%, 10-year bonds with a face amount of $70,000 for $70,000 on January 1, 2018. The market interest rate for bonds of similar risk and maturity is 7%. Interest is paid semiannually on June 30 and December 31. 1. & 2.

Albert's 19-year-old son, paul, lived with him all year. paul is a full-time student who earned $4,500, which he put into a college fund. albert can claim paul as a dependent.

Next year's sales forecast shows that 20,000 units of product a and 22,000 units of product b are going to be sold for prices of $10 and $12 per unit, respectively.

New Questions in Business

What is the objective of the last step in the ethical decision-making framework? Multiple Choice to brainstorm any alternative courses of action to weigh the various alternatives and choose a course of action to identify the issue to gather facts

Suppose an investment of 10,000 doubkes in value every 13 years. how much is the investment

A customer makes a small order, you deliver the goods, and he pays by check. The check clears. He makes another small order, you deliver, and he pays by check. The check clears again. The pattern goes on for several weeks.

Ontario Resources, a natural energy supplier, borrowed $80.8 million cash on November 1, 2021, to fund a geological survey. The loan was made by Quebec Banque under a short-term financing arrangement.

Where would you go to set up margins on a letter? A. Format Pages B. Page Layout C. View Pages D. Page Preview