Logo
Home Study Material Contact Search
AI Chat FREE
  1. business
  2. accounting
  3. com/ilrn/takeassignment/takeassignmentmain.do?invo

com/ilrn/takeAssignment/takeAssignmentMain.do?invoker=&takeAssignmentSession... An eBook Show Me How Print ltem Recording Partner's Original Investment Vanessa Kaiser and...

80.2K

Verified Solution

Question

Accounting

com/ilrn/takeAssignment/takeAssignmentMain.do?invoker=&takeAssignmentSession... An eBook Show Me How Print ltem Recording Partner's Original Investment Vanessa Kaiser and Mariah Newman decide to form a partnership by combining the assets of their separate businesses. Kaiser contributes the following assets to the partnership: cash, $19,940; accounts receivable with a face amount of $209,370 and an allowance for doubtful accounts of $7,550; merchandise inventory with a cost of $97,330; and equipment with a cost of $171,880 and accumulated depreciation $111,720. The partners agree that $9,210 of the accounts receivable are completely worthless and are not to be accepted by the partnership, that $15,700 is a reasonable allowance for the uncollectibility of the. Please help.

Answer & Explanation Solved by verified expert
Get Answers to Unlimited Questions

Join us to gain access to millions of questions and expert answers. Enjoy exclusive benefits tailored just for you!

Membership Benefits:
  • Unlimited Question Access with detailed Answers
  • Zin AI - 3 Million Words
  • 10 Dall-E 3 Images
  • 20 Plot Generations
  • Conversation with Dialogue Memory
  • No Ads, Ever!
  • Access to Our Best AI Platform: Flex AI - Your personal assistant for all your inquiries!
Become a Member

Other questions asked by students

Q

b In how many w a There are Type a whole nu

Basic Math
Q

APA format is required. References should be listed immediatelyafter the question that is being...

Accounting
Q

Briefly describe the following steps of the forecasting process. 1. determine the purpose of forecast 2....

General Management
Q

A swimming pool is 20 ft wide 40 ft long 3 ft deep at the...

Calculus
Q

Linda is offered a full-time job as a chartered accountant at CM...

Accounting
Q

The following is a listing of some of the balance sheet accounts and all of...

Accounting
Q

Question 20 (6 points) Zebra Company's flexible budget for 100,000 units of production showed...

Accounting
Q

Which of the following values is considered the market value when valuing inventory at lower-of-cost-or-market...

Accounting
Q

Which one of the following is a situation where a new project will require a...

Finance
Q

the time required to convert paid for inventory and accounts receivable into cash is called...

Finance
Q

BSBFIA401: Q8 Part 2 List five legislation or compliance requirements that can affect transaction recording....

Accounting
Q

Which institution forces banks to have minimum amounts of liquid assets and equity capital? Question...

Finance