Marm and Seern own M&S partnership, Marm (75%) $140,000, Seern (25%)S60,000. You will admit to a...
Fantastic news! We've Found the answer you've been seeking!
Question:
Transcribed Image Text:
Marm and Seern own M&S partnership, Marm (75%) $140,000, Seern (25%)S60,000. You will admit to a 40% interest in the partnership for $120,000. Choose between the following alternatives: 1- Pay the amount directly to Marm and Seern and good will not recorded 2- Pay the amount directly to Marm and Seern and good will recorded. 3- Invested the amount directly in the partnership without revalued assets 4- Invested the amount directly in the partnership with revalued assets Marm and Seern own M&S partnership, Marm (75%) $140,000, Seern (25%)S60,000. You will admit to a 40% interest in the partnership for $120,000. Choose between the following alternatives: 1- Pay the amount directly to Marm and Seern and good will not recorded 2- Pay the amount directly to Marm and Seern and good will recorded. 3- Invested the amount directly in the partnership without revalued assets 4- Invested the amount directly in the partnership with revalued assets
Expert Answer:
Answer rating: 100% (QA)
The correct option is 4 Invested the amou t directl... View the full answer
Related Book For
Introduction to Operations Research
ISBN: 978-1259162985
10th edition
Authors: Frederick S. Hillier, Gerald J. Lieberman
Posted Date:
Students also viewed these accounting questions
-
You want to choose between decision alternatives A1 and A2 in the following decision tree, but you are uncertain about the value of the probability p, so you need to perform sensitivity analysis of p...
-
You own a portfolio that is 25 percent invested in Stock X, 40 percent in Stock Y, and 35 percent in Stock Z. The expected returns on these three stocks are 11 percent, 17 percent, and 14 percent,...
-
The KLM Partnership owns the following assets on March 1 of the current year: a. Which partnership items are unrealized receivables? b. Is the partnerships inventory substantially appreciated? c....
-
Whitmore Company issued $500,000 of 5-year, 8% bonds at 97 on January 1, 2020. The bonds pay interest annually. Instructions a. 1. Prepare the journal entry to record the issuance of the bonds. 2....
-
If X is a normally distributed random variable with mean 97 and standard deviation 10, find x2 such that P(102 < X < x2) = 0.05.
-
The cash account of Aguilar Co. showed a ledger balance of $3,969.85 on June 30, 2017. The bank statement as of that date showed a balance of $4,150. Upon comparing the statement with the cash...
-
For the similarity solution, what are the boundary conditions for the constant-wall-flux case? Show that a complete similarity does not exist for this case. Also show the condition for the case where...
-
Use the ideal gas equation of state to estimate the molar volume in m3tmol and the density of air in kg/m 3 at 40C and a gauge pressure of 3.0atm.
-
Image transcription text Dailliteraturamakslinieciskaolukaautori medzneieverotteikumada/urobezas 7. 1-7.2 Izraksthotekstadivuspiemeryskurosavieverotteikuma/eidosanavincipli 7.3...
-
Gold Enterprises acquired 100 percent of Premium Builders stock on December 31, 20X4. Balance sheet data for Gold and Premium on January 1, 20X5, are as follows: At the date of the business...
-
Harlen Industries Limited has a simple forecasting model whose forecast demand has been plotted against actual demand for an 8 months duration. The firm uses an average weekly demand which is shown...
-
Given that P(A)=1/3, P(B) = 1/2 and P(AIB) = 1/2: a. Find P(A n B). b. Find P(BIA). c. Find P(AUB). d. Are A and B independent? Why or why not? e. Are A and B mutually exclusive? Why or why not?
-
Ethics is sometimes influenced by leadership. Research ethical leadership and servant leadership. 1. What is ethical leadership? 2. What is servant leadership? 3. Discuss the relationship between...
-
During an audit engagement, an internal auditor misses a significant risk to the process under audit and thus does not fully assess the process. How could he have reduced the fault assigned to him?
-
How do emergent paradigms in organizational psychology, such as positive organizational scholarship and appreciative inquiry, inform the design and implementation of transformative organizational...
-
To what extent do socio-cultural factors influence the efficacy of organizational development interventions, and how can practitioners navigate cultural nuances to facilitate cross-cultural synergy...
-
If planned aggregate expenditure is less than total production, O firms will experience an unplanned increase in inventories. the economy is in equilibrium. GDP will increase. O actual inventories...
-
When the Department of Homeland Security created a color-coded system to prepare government officials and the public against terrorist attacks, what did it do right and what did it do wrong?
-
Consider the transportation problem having the following parameter table: 523 4-425-2 0-3-638 -2 | 2 | 743| 3 1-324-3 123
-
Consider the inventory example presented in Sec. 29.1 except that demand now has the following probability distribution: P{D = 0} = 1/4, P{D = 2} = 1/4, P{D = 1} = 1/2, P{D > 3} = 0. The ordering...
-
The demand D for a product in a week is a random variable taking on the values of 1, 0, 1 with probabilities 1/8, 5/8, and C/8, respectively. A demand of 1 implies that an item is returned. (a) Find...
-
You are an options dealer who deals in non-publicly traded options. One of your clients wants to purchase a one-year European call option on HAL Computer Systems stock with a strike price of \($20.\)...
-
\(50 \mathrm{~m}^{3}\) of air at \(18^{\circ} \mathrm{C}\) DBT and \(12^{\circ} \mathrm{C}\) WBT are mixed with \(20 \mathrm{~m}^{3}\) of dry air at \(32^{\circ} \mathrm{C}\) DBT and \(24^{\circ}...
-
Which production process would use an assembly line? a. Continuous production b. Intermittent process c. Mass customization d. Lean production
Study smarter with the SolutionInn App