A partner invests into a partnership a building with a $50,000 carrying value and $80,000 fair market value. The related mortgage payable of $25,000 is assumed by the partnership. The entry to record the investment in partnership is:
A) Building 50,000 Mortgage Payable 25,000Capital 25,000
B) Building 80,000 Mortgage Payable 25,000Capital 55,000
C) Capital 80,000 Mortgage Payable 25,000Building 55,000
D) Capital 50,000 Mortgage Payable 25,000Building 25,000
B
You might also like to view...
Investing activities include those transactions involving the purchase and sale of long-term assets, investments in debt and equity securities, and lending money and collecting the principal on the related loans
Indicate whether the statement is true or false
Refer to the following selected financial information from Gomez Electronics. Compute the company's profit margin for Year 2. Year 2Year 1Net sales$478,500 $426,250 Cost of goods sold 276,300 250,120 Interest expense 9,700 10,700 Net income before tax 67,250 52,680 Net income after tax 46,050 39,900 Total assets 317,100 288,000 Total liabilities 181,400 167,300 Total equity 135,700 120,700
A. 16.7%. B. 14.1%. C. 11.7%. D. 9.6%. E. 33.9%.
________ messages conveyed by personal appearance and facial expressions can greatly affect the success of an oral presentation
Fill in the blank(s) with correct word
The ________ distribution is used by PERT analysis to calculate expected activity times and variances
A) Normal B) Beta C) Alpha D) Gaussian E) Binomial