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Aloiza [94]
2 years ago
7

Exercise 12-15 a-b Foss, Albertson, and Espinosa are partners who share profits and losses 50%, 30%, and 20%, respectively. Thei

r capital balances are $117,000, $55,000, and $32,000, respectively. Assume Garrett joins the partnership by investing $81,600 for a 25% interest with bonuses to the existing partners. Prepare the journal entry to record his investment. (Credit account titles are automatically indented when amount is entered. Do not indent manually.)

Business
1 answer:
omeli [17]2 years ago
5 0

Answer

The answer and procedures of the exercise are attached in the following archives.

Explanation  

You will find the procedures, formulas or necessary explanations in the archive attached below. If you have any question ask and I will aclare your doubts kindly.  

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Make-or-Buy Decision Somerset Computer Company has been purchasing carrying cases for its portable computers at a purchase price
madreJ [45]

Answer:

Differential analysis as at April 30

                                            Make (Alternative 1)  Buy (Alternative 2)

Purchase Price                                $0.00                     $24.00

Direct materials                               $8.00                       $0.00

Direct labor                                     $12.00                      $0.00

Variable Costs - Case related         $3.00                      $0.00

Total Cost                                       $23.00                    $24.00

Conclusion

Company should make carrying cases instead of purchasing as this is cheaper by $1.00

Explanation:

There is a choice to be made between Make (Alternative 1) and Buy (Alternative 2). Compute the Total costs for these choices.

Ignore the fixed overheads as they are the same for both alternatives and hence irrelevant.

Choose the alternative with lower costs.

3 0
2 years ago
Vegetarian Delights has been experiencing declining market conditions for its specialty foods division. Management decided to te
Vesnalui [34]

Answer:

$3.5 million

Explanation:

Data given in the question

Book value of the division assets = $33.50 million

Fair value of the division assets = $30 million

The sum of estimated future cash flows generated = $38 million

So, by considering the above information, the amount of impairment loss is

= Book value of the division assets - fair value of the division asset

= $33.5 million - $30 million

= $3.5 million

Since the fair value is less than the book value so the difference should be recorded as an impairment loss

5 0
2 years ago
If you deposit $100 of currency into a demand deposit at a bank, this action by itself
Dahasolnce [82]

Answer:

A) Does not change the money supply.

Explanation:

Demand deposits change the monetary base, because the monetary base equals currency plus demand deposits.

However, in itself, a demand deposit does not change the money supply. For the change in the money supply to occur, the bank must loan out some of the money in the deposit.

8 0
2 years ago
Joe takes a dollar from the cash register every day and does not tell anyone about it. Sara’s cash register is $2 short because
KonstantinChe [14]
Well, obviously Sara is the better employee because she's being honest and tells the boss about her mistake. Joe is not a good employee, becuse he is stealing and doesn't tell anyone about it so, your answer is Sara is the better employee. Hope it helps!
6 0
2 years ago
Read 2 more answers
A dozen eggs cost $0.88 in january 1980 and $2.11 in january 2015.
Lera25 [3.4K]
Initial price = $0.88 (Jan. 1980)
Final price = $2.11 (Jan. 2015)

Change in price = $2.11 - $0.88 = $1.23
Percentage rise in price = 100(1.23/0.88) = 139.8% ≈ 140%
The average yearly rise in price = 139.8/(2015-1980) ≈ 4%

Answer:
Total percent rise in price = 140%
Average yearly rise in price = 4%
6 0
2 years ago
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