L. White, V. Sabin, and E. Rackhaus are partners with capital balances of $92,000, $81,000, and $69,000,
Question:
L. White, V. Sabin, and E. Rackhaus are partners with capital balances of $92,000, $81,000, and $69,000, respectively. Rackhaus sells his interest in the company for $90,000 to P. Solvay. White and Sabin have consented to the new partner. Record the journal entry for the admission of Solvay on April 8.
Fantastic news! We've Found the answer you've been seeking!
Step by Step Answer:
Answer rating: 77% (9 reviews)
Apr 8 E Rackh...View the full answer
Answered By
Utsab mitra
I have the expertise to deliver these subjects to college and higher-level students. The services would involve only solving assignments, homework help, and others.
I have experience in delivering these subjects for the last 6 years on a freelancing basis in different companies around the globe. I am CMA certified and CGMA UK. I have professional experience of 18 years in the industry involved in the manufacturing company and IT implementation experience of over 12 years.
I have delivered this help to students effortlessly, which is essential to give the students a good grade in their studies.
3.50+
2+ Reviews
10+ Question Solved
Related Book For
College Accounting A Practical Approach
ISBN: 9780134729312
14th Edition
Authors: Jeffrey Slater, Mike Deschamps
Question Posted:
Students also viewed these Business questions
-
L. Wade, V. Sadler, and E. Racca are partners with capital balances of $88,000, $83,000, and $69,000, respectively. Racca sells his interest in the company for $91,000 to P. Solvay. Wade and Sadler...
-
L. Waddell, V. Sage, and E. Rabel are partners with capital balances of $91,000, $84,000, and $68,000, respectively. Rabel sells his interest in the company for $87,000 to P. Solvay. Waddell and Sage...
-
L. White, V. Sable, and E. Rabel are partners with capital balances of $93,000, $84,000, and $70,000, respectively. Rabel sells his interest in the company for $88,000 to P. Skou. White and Sable...
-
Prove that e is an irrational number using the following argument by contradiction. Suppose that e = M/N, where M, N are nonzero integers. (a) Show that M!e- is a whole number. (b) Use the power...
-
Suppose that an NMR sample containing 1013 protons is placed in a magnetic field of 9.4 T. Using the Boltzmann distribution, calculate the equilibrium populations of the and levels, assuming that...
-
Applicants for the job of air traffic controller must be able to visualize objects moving in three dimensions and write a test to determine if they have this ability. What category would this test...
-
What was the firm's inventory turnover for 2018? a. 6.67 b. 4 c. 6 d. 3.69 Sales revenues for 2018 were \(\$ 800,000\), gross profit was \(\$ 320,000\), and net income was \(\$ 36,000\). The income...
-
Calvin Jacobs is a widower who recently retired after a long career with a major Midwestern manufacturer. Beginning as a skilled craftsman, he worked his way up to the level of shop supervisor over a...
-
b. Suppose you are considering two possible investment opportunities: a 12-year Treasury bond and a 7-year, A-rated corporate bond. The current real risk-free rate is 5%, and inflation is expected to...
-
A food company produces tomato sauce at five different plants. The tomato sauce is then shipped to one of three warehouses, where it is stored until it is shipped to one of the companys four...
-
Judy Eagleson, Tina DiVito, and Amy Ellars are partners who share losses and gains in a ratio of 2:2:1. Their capital balances are $4,800, $7,200, and $4,300, respectively. The partners are anxious...
-
Sabin, Roe, and Herber have capital balances before liquidation of $14,000, $22,000, and $31,000, respectively. Cash balance is $39,000, and the partners share losses and gains in a 3:2:1 ratio. All...
-
The paper Effects of Age and Gender on Physical Performance (Age [2007]: 7785) describes a study of the relationship between age and 1-hour swimming performance. Data on age and swim distance for...
-
17. A company is considering a 6-year project that requires an initial outlay of $28,000. The project engineer has estimated that the operating cash flows will be $5,000 in year 1, $5,000 in year 2,...
-
interest rate on the bond payable was 12%, the income tax rate was 40%, and the dividend per share of common stock was $0.75 last year and $0.40 this year. The market value of the company's common...
-
As before, answer and/or evaluate their statement: "I'm trying to figure out this whole IPO valuation thing. As an example, suppose that RENT was worth $940 billion pre-IPO. Their current market cap...
-
You are an investment analysist at a hedge fund that is comfortable taking calculated risk. They do invest in distressed debt. The Holdco has $10mm of assets, Opco 1 has $75mm of assets and Opco 2...
-
Elaine is giving a speech on macroeconomics and the complexities of the global economy to a group in her community interested in investing savings for retirement. What is the problem with Elaine's...
-
1. An organization is contemplating cloud computing services, but is not sure at what level of service the organization should commit to. Based on your reading and your understanding, please provide...
-
CLASS PERIO Solving Linear Equations: Variable on Both Sides Solve each equation. 1) 6r+ 7 = 13 + 7r 3) -7x-3x+2=-8x-8 5)-14 +66+7-26=1+5b 7) n-3n = 14-4n 2) 13-4x=1-x 4)-8-x= x - 4x 6)n+2=-14-n 8)...
-
On January 1 Dixon Corporation sold $400,000 of 10-year sinking fund bonds. The corporation expects to earn 15% on the sinking fund balance and is required to deposit $23,000 at the end of each year...
-
From the following, prepare the long-term liabilities section of a balance sheet: a. Sinking Fund .............$275,000 b. Premium on 13% bonds .......... 7,000 c. Discount on 16% bonds .............
-
On January 1, 201X, Lemming Corporation sold $500,000 of 12%, 10-year bonds at 94. Interest is to be paid on June 30 and December 31. The straight-line method of amortizing the discount is used....
-
a. Consider a five-year, $1,000 bond with a 5% coupon rate and semiannual coupons. If this bond is currently trading for a price of $957.35, what is the bond's yield to maturity? b. Consider again...
-
please help me to make transmittal as supply chain manager. Transmittal document (Optional): This memo or letter is no more than one page in length, and it is to be addressed to the individual who...
-
Explain the six (6) negative externalities/external costs that are associated with the transportation industry, use appropriate examples Your arguments should be discussed across modes
Study smarter with the SolutionInn App