Maxwell and Smart are forming a partnership. Maxwell is investing a building that has a market value of $100,000. However, the building carries a $36,000 mortgage that will be assumed by the partnership. Smart is investing $61,000 cash. The balance of Maxwell's Capital account will be:
Answers (1)
Know the Answer?
Not Sure About the Answer?
Find an answer to your question 👍 “Maxwell and Smart are forming a partnership. Maxwell is investing a building that has a market value of $100,000. However, the building ...” 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 head of the marketing area told alex to find the most stringent regulations on advertising to create the toughest standards. "if we can pass those, we should be able to get by all regulations". one real problem is: a.
Answers (1)
Why would it be important to use real gdp to get a more accurate representation of economic growth across time periods?
Answers (1)
Henry Ford is most recognized for: a. inventing new technology to further the steel production process. b. developing the first investment banks. c. implementing the first progressive, moving assembly-line system for large, complex final products. d.
Answers (1)
has faced limited competition in the market for diamonds. What barrier has kept new firms from entering the market for diamonds ?
Answers (1)
Which answer option is not a job function associated with a corporate finance department? 1. Valuing the profitability of multiple projects and choosing one in which to invest. 2.
Answers (1)
New Questions in Business
Which education level has the highest return on investment (ROI)
Answers (1)
Assume that the money demand function is (M / P) d = 2,200 - 200r, where r is the interest rate in percent. If the price level is fixed at P=2, and the Fed wants to fix the interest rate at 7 percent, it should set the money supply at:
Answers (1)
On August 2, 2013, Jun Co. receives a $6,000, 90-day, 12% note from customer Ryan Albany as payment on his $6,000 account. 1. Prepare the journal entry assuming the note is honored by the customer on October 31, 2013.
Answers (1)
Are schools officials immune from being sued?
Answers (1)
Assume an asset cost $72,800 and has a current book value of $42,760. The asset is sold today for $32,900 cash. The firm's tax rate is 21 percent. As a result of this sale, the firm's net cash flow: 1. will increase by more than $32,900. 2.
Answers (1)