FREE Trial
Answered step by step
Verified Expert Solution
Link Copied!

Question

1 Approved Answer

Biz Parthership allows partner Mandy to sell her $107,000 equity in the partnership to Bristney. Brittney parys Mandy $85,600. Record the partnership's journal entry for

image text in transcribed
Biz Parthership allows partner Mandy to sell her $107,000 equity in the partnership to Bristney. Brittney parys Mandy $85,600. Record the partnership's journal entry for the sale of Mandy's interest to Brnthy on September 30. Journal entry worksheet Record the admission of Urittney as a partner who will pay Mandy $85,600 for her share of equity of $107,000. hole: Finter eebits before creots

Step by Step Solution

There are 3 Steps involved in it

Step: 1

blur-text-image

Get Instant Access to Expert-Tailored Solutions

See step-by-step solutions with expert insights and AI powered tools for academic success

Step: 2

blur-text-image_2

Step: 3

blur-text-image_3

Ace Your Homework with AI

Get the answers you need in no time with our AI-driven, step-by-step assistance

Get Started

Recommended Textbook for

Corporate Financial Accounting

Corporate Financial Accounting

Authors: Carl S. Warren, James M. Reeve, Jonathan E. Duchac

12th edition

1305041399, 1285078586, 978-1-133-9524, 9781133952428, 978-1305041394, 9781285078588, 1-133-95241-0, 978-1133952411

More Books

Students also viewed these Accounting questions

Question

★★★★★
The Saadi Corporation manufactures and sells two products: Thingone and Thingtwo. In July 2012, Saadis budget department gathered the following data to prepare budgets for 2013: The following direct...

Answered: 1 week ago

Question

★★★★★
=+election of Americas first Black president (Hooghe & Dassoneville, 2018; Lamont, Park, & Ayala-Hurtado, 2017; Tolbert, Redlawsk & Gracey, 2018). What might this say about some of the potential...

Answered: 1 week ago

Question

★★★★★
=+3. Why do you suppose this culture change effort has precipitated several res- ignations of top executives at Citigroup?

Answered: 1 week ago

Question

★★★★★
The following balance sheet was adapted from the nancial statements of the Williamsburg Regional Sewage Treatment Authority (dates have been changed). Fund Types The transactions of the authority are...

Answered: 1 week ago

Question

★★★★★
Calculate the effective rate of interest for the first year, if the rate of interest is 7.9% p.a. compounded semiannually? (rounding the answer to 6 significant decimal figures) a. 0.080560 b....

Answered: 1 week ago

Question

★★★★★
List and explain at least 3 reasons that the semiconductor value chain is so globalized and vertically specialized (the opposite of vertical integration).

Answered: 1 week ago

Question

★★★★★
Barista Coffee Shoppe and Store has two departments. The Store sells ground coffees, coffee beans, grinders, coffee makers, cappuccino machines, mugs, aprons, flavored additives, and flavored...

Answered: 1 week ago

Question

★★★★★
A raw image file is compressed and saved onto a local hard disk. The main information processes being used are: (A) collecting, organising and displaying. (B) analysing, processing and storing. (C)...

Answered: 1 week ago

Question

★★★★★
All else equal, income that is taxed at a higher rate _______ than income that is taxed at a lower rate. A. is unrelated to B. is as valuable than C. is less valuable than D. is more valuable than

Answered: 1 week ago

Question

★★★★★
At Volleyballs-R-Us, we buy volleyballs for $18 and sell them for $30. If we make a sale of one additional volleyball, and nothing else changes, how much does net income increase? $30 $18 $12 $6

Answered: 1 week ago

Question

★★★★★
1. You just discovered a data breach caused by our employee pertaining to client data. What am the following would not be an immediate step you would be taking? a. Immediately inform the client, if...

Answered: 1 week ago

Question

★★★★★
4 antelopes die instead of four antelopes die. If unit or scale designation is needed, enter a number followed by the unit or scale, for example, km2, K, or M. Some examples of these conventions are:...

Answered: 1 week ago

Question

★★★★★
1. Use only alpha numeric characters.

Answered: 1 week ago

Question

★★★★★
2. Construct a group ID of a for-profit tourist lodge in the Serengeti that is owned by an investment group in Europe.

Answered: 1 week ago

Previous Question Next Question