Apartnership has the following account balances:

cash $50,000; other assets $600,000; liabilities $240,000; nixon, capital (50 percent of profits and losses) $200,000; hoover, capital (20 percent) $120,000; and polk, capital (30 percent) $90,000.

each of the following questions should be viewed as an independent situation:

a. grant invests $80,000 in the partnership for an 18 percent capital interest. goodwill is to be recognized. what are the capital accounts thereafter?

b. grant invests $100,000 in the partnership to get a 20 percent capital balance. goodwill is not to be recorded. what are the capital accounts thereafter?

Blue spruce corp. has the following transactions during august of the current year. aug. 1 issues shares of common stock to investors in exchange for $10,170. 4 pays insurance in advance for 3 months, $1,720. 16 receives $710 from clients for services rendered. 27 pays the secretary $740 salary. indicate the basic analysis and the debit-credit analysis.

Oerstman, inc. uses a standard costing system and develops its overhead rates from the current annual budget.the budget is based on an expected annual output of 120,000 units requiring 480,000 direct labor hours.(practical capacity is 500,000 hours)annual budgeted overhead costs total $772,800, of which $556,800 is fixed overhead.a total of 119,300 units, using 478,000 direct labor hours, were produced during the year.actual variable overhead costs for the year were $260,400 and actual fixed overhead costs were $555,450.required: 1. compute the fixed overhead spending variance and indicate if favorable or unfavorable.2. compute the fixed overhead volume variance and indicate if favorable or unfavorable.

Suppose that each country completely specializes in the production of the good in which it has a comparative advantage, producing only that good. in this case, the country that produces jeans will produce million pairs per week, and the country that produces corn will produce million bushels per week.