Bobbi and Stuart are partners. The partnership capital of Bobbi is $47,200 and that of Stuart is $89,200. Bobbi sells his interest in the partnership to John for $58,300. The journal entry to record the admission of John as a new partner would include a credit to a. John's capital account for $58,300 b. Stuart's capital account for $68,200 c. John's capital account for $47,200 Od. John's capital account for $47,200 and a credit to Stuart's capital account for $89,200 singer and McMann are partners in a business. Singer's original capital was $42,000 and McMann's was $52 100. They agree to salaries of $12,000 and $18,800 for Singer and McMann, repectively, and 10% interest on original capital. If they agree to share the remaining profits and losses on a 3:2 ratio, what will McMann's share of the income be if the income for the year is $71,600? , $36,566 Ob. $18,800 Oc. $43,879 Od. $24,010 Xavier and Yolanda have original investments of $49,000 and $93,800, respectively, in a partnership. The articles of partnership include the following provisions regarding the division of net income: interest on original investment at 20%, salary allowances of $29,700 and $29,400, respectively, and the remainder to be divided equally. How much of the net income of $108,600 is allocated to Yolanda? a. $58,630 Ob$48,160 OC, $18,760 Od. $70,356 Use the information below to answer the question that follow Sandra and Kelsey are forming a partnership. Sandra will invest a piece of equipment with a book value of $6,500 and a fair market value of $11,900. Kelsey will invest a building with a book value of $41,000 and a fair market value of $60,700 What amount will be recorded to the building account? , $60,700 Ob. $41,000o , $11,900 Od. $6,500 As part of the initial investment, Jackson contributes accounts receivable that had a balance of $42,645 in the accounts of a sole proprietorship. Of this amount, $1,449 is deemed completely worthless. For the remaining accounts, the partnership will establish a provision for possible future uncollectible accounts of $783. The amount debited to Accounts Receivable for the new partnership is , $40,413 Ob. $41,862 c. $41,196 Od. $42,645 Excom sells adios and each unit carries a two-year replacement warranty. T pical 5% o the radios sold need to be eplaced cost ng E com S24 per radio September, radios for un so d each what amount in September would Excom debit Product Warranty Expense? Round your answer to the nearest whole dollar , $30,360 b. $24 , $46 Od. $792 During its first year of operations, a company granted its employees vacation privileges and pension rights estimated at a cost of $25,742 and $14,090, respectively. The vacations are expected to be taken in the next year, and the pension rights are expected to be paid in the future 5-30 years. What is the total cost of vacation pay and pension rights to be recognized in the first year? , $68,012 Ob. $25,742 -$39,832 Od. $14,090