As part of the initial investment, ray blake contributes equipment that had originally cost $125,000 and on which accumulated depreciation of $100,000 has been recorded. if similar equipment would cost $150,000 to replace and the partners agree on a valuation of $29,000 for the contributed equipment, what amount should be debited to the equipment account
Answers (1)
Know the Answer?
Not Sure About the Answer?
Find an answer to your question 👍 “As part of the initial investment, ray blake contributes equipment that had originally cost $125,000 and on which accumulated depreciation ...” 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
The CEO of D'Amico Motors has been granted some stock options that have provisions similar to most other executive stock options. If D'Amico's stock underperforms the market, these options will necessarily be worthless. Select one: a. True b. False
Answers (1)
Assume that at the end of the next year, Company A will pay a $2.00 dividend per share, an increase from the current dividend of $1.50 per share. After that, the dividend is expected to increase at a constant rate of 5%.
Answers (1)
When the Campbell Soup Co. introduced its new Slow Kettle Style Soups, its advertising touted restaurant-quality soup with authentic ingredients and unique flavors available at the grocery store.
Answers (1)
If the price level rises above what was expected and nominal wages are fixed, then a. production become more profitable so firms will hire more workers. b. production becomes less profitable so firms will hire fewer workers. c.
Answers (1)
A downfall of the infant-industry argument is that
Answers (1)
New Questions in Business
Suppose that today, the current yield for a corporate bond is 4.3%. If the market price goes up by 11% tomorrow, compute the current yield after the increase.
Answers (1)
Determine the future amount if $240,000 is to be received 5 years from today, at 10 percent annual interest.
Answers (1)
Wickland Company installs a manufacturing machine in its production facility at the beginning of the year at a cost of $87,000. The machine's useful life is estimated to be 5 years, or 400,000 units of product, with a $7,000 salvage value.
Answers (1)
Tirri Corporation has provided the following information: Cost per UnitCost per Period Direct materials$7.35 Direct labor$3.55 Variable manufacturing overhead$1.40 Fixed manufacturing overhead $24,100 Sales commissions$1.
Answers (1)
A what type of budget is a type of financial report that scrutinizes the inflow and outflow of money in a given financial year
Answers (1)