In the AD partnership, Allen's capital is $140,000 and Daniel's is $40,000 and they share income in a 3:1 ratio, respectively. They decide to admit David to the partnership. Each of the following questions is independent of the others.Refer to the information provided above. David directly purchases a one-fifth interest by paying Allen $34,000 and Daniel $10,000. The land account is increased before David is admitted. By what amount is the land account increased?
A. $20,000
B. $10,000
C. $40,000
D. $36,000
Answer: C
You might also like to view...
A manufacturing company that has only one product has established the following standards for its variable manufacturing overhead. The company bases its variable manufacturing overhead standards on direct labor-hours. Standard hours per unit of output 7.2DLHsStandard variable overhead rate$14.20per DLH?The following data pertain to operations for the last month: Actual direct labor-hours 5,100DLHsActual total variable manufacturing overhead cost$72,165 Actual output 600units?What is the variable overhead rate variance for the month?
A. $10,821 F B. $255 F C. $255 U D. $10,821 U
Which of the following leads employees to think "the grass is greener elsewhere"?
A) not knowing what it takes to move ahead B) not understanding how compensation programs work C) not knowing where they stand in the eyes of management D) lack of sensitivity to their peers' problems
A ______________ projector is commonly used when displaying slides created using a presentation program
A. LCD B. CED C. DEL D. DEC
Reliability refers to the extent to which two methods yield similar results or are consistent with one another.
Answer the following statement true (T) or false (F)