The partners in the Biz Partnership have agreed that partner Mandy may sell her $100,000 equity in the partnership to Brittney, for which Brittney will pay Mandy $85,000. Present the partnership’s journal entry to record the sale of Mandy’s interest to Brittney on September 30.
Answer to relevant QuestionsRefer to Polaris’ 2011 balance sheet in Appendix A. How many shares of common stock are authorized? How many shares of voting common stock are issued? Refer to Arctic Cat’s statement of stockholders’ equity. What was the amount of its fiscal 2011 un-realized gain or loss on derivative instruments?On June 3, a company borrows $ 200,000 cash by giving its bank a 90-day, interest- bearing note. On the statement of cash flows, where should this be reported? At the beginning of a period a company predicts total direct materials costs of $ 900,000 and total overhead costs of $ 1,170,000. If the company uses direct materials costs as its activity base to allocate overhead, what is ...Polaris delivers its products to locations around the world. List three controllable and three uncontrollable costs for its delivery department.
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