Business, 26.10.2021 01:00 jbuchjr13

Hannah Freeman and Hugo Hernandez form a partnership by combining assets of their former businesses. The following balance sheet information is provided by Freeman, sole proprietorship: Hannah Freeman Proprietorship, Balance Sheet, June 1, 2003

Cash $65.000
Accounts receivable $125.000
Less: Allowance for doubtful accounts 7.200 117.800
Land 215.000
Equipment $78.000
Less: Accumulated deprecitation-equipment 41.000 37.000
Total assets $434.800
Accounts payable $24.800
Notes payable 76.000
Hannah Freeman, capital 334.000
Total liabilities and owner's equity $434.800

Freeman obtained appraised values for the land and equipment as follows:
Land $320,000
Equipment 34,800

Required:
An analysis of the accounts receivable indicated that the allowance for doubtful accounts should be increased to $9,500. Journalize the partnership's entry for Freeman's investment.

Answers: 1

Show answers

Another question on Business

Business, 22.06.2019 17:30

One of your new suppliers, kim, has been hearing rumors about your firm’s lack of capability to deliver high quality products and writes an email asking you to address the claims being made. in replying to her, you want to be sure that you are very clear and leave no room for misinterpretation. which of the following aspects of effective communication should you give the most attention? (a) making sure you understand kim’s areas of expertise. (b) supporting your reply with relevant data and facts. (c) establishing your credibility as an expert. (d) paying attention to implied communications.

Answers: 2

Answer

Business, 22.06.2019 17:30

You should do all of the following before a job interview except

Answers: 2

Answer

Business, 22.06.2019 19:20

Six years ago, an 80-kw diesel electric set cost $160,000. the cost index for this class of equipment six years ago was 187 and is now 194. the cost-capacity factor is 0.6. the plant engineering staff is considering a 120-kw unit of the same general design to power a small isolated plant. assume we want to add a precompressor, which (when isolated and estimated separately) currently costs $13291. determine the total cost of the 120-kw unit. (hint: skip $ and comma symbols)

Answers: 3

Answer

Business, 22.06.2019 22:00

"jake’s roof repair has provided the following data concerning its costs: fixed cost per month cost per repair-hour wages and salaries $ 20,900 $ 15.00 parts and supplies $ 7.70 equipment depreciation $ 2,800 $ 0.35 truck operating expenses $ 5,720 $ 1.60 rent $ 4,690 administrative expenses $ 3,850 $ 0.50 for example, wages and salaries should be $20,900 plus $15.00 per repair-hour. the company expected to work 2,600 repair-hours in may, but actually worked 2,500 repair-hours. the company expects its sales to be $47.00 per repair-hour. required: compute the company’s activity variances for may."

Answers: 1

Answer

You know the right answer?

Hannah Freeman and Hugo Hernandez form a partnership by combining assets of their former businesses....

Questions