Norr and caylor established a partnership on january
Norr and Caylor established a partnership on January 1, 2013. Norr invested cash of $100,000 and Caylor invested $30,000 in cash and equipment with a book value of $40,000 and fair value of $50,000. Make the journal entry for the investment.
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If maintenance hours in October are expected to be $3,000, what are total fixed maintenance costs expected to be (round unit costs to the nearest cent)?
Corky Motors is in its first year of operations and, as of December 30, has total revenues of $5 million, projected net income of $400,000, and total assets of $40 million.
X Company uses account analysis to estimate total overhead costs for each month. In May, when production was 1,200 units, the plant manager classified each overhead cost item as fixed and variable as follows:
The capital project fund has just been created to account for resources received and expended for the construction of a new health center. Funding for the health center is being provided by a $5000,000 general obligation bond sale.
Allowance for doubtful accounts has a credit balance of 500 at the end of the year and uncollectable accounts expense is estimated at #% of net sales. If net sales are 600,000 the amount of teh adjusting entry to record the provision for doubful
Seard Clinic uses patient-visits as its measure of activity. The clinic has provided the following report: Using a performance report for December including columns for the (a) actual results.
On January 1, 2004, Liberty Co entered into a 12- year lease on building. The lease contract requires (1) annual ( prepaid) rental payment of $26,400 each January 1 throughout the life of the lease and (2) for the leasee to pay all the additions a
Alpaca Corporation had revenues of $300000 in its first year of operations. The company has not collected on $19900 of its sales and still owes 26500 on 85000 of merchandise it purchased.
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