Austin Fisher contributed land, inventory, and $34,000 cash to a partnership. The land had a book value of $70,000 and a market value of $127,000. The inventory had a book value of $62,000 and a market value of $57,700. The partnership also assumed a $50,000 note payable owed by Fisher that was used originally to purchase the land. Provide the journal entry for Fisher.
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Ответ:
The journal entry will be as follows;
Explanation:
Cash Dr.$34,000
Land Dr.$127,000
Inventory Dr.$57,700
Note Payable Cr.$50,000
Capital-Fisher Cr.$168,700
With contribution of assets net off of note payable by partnership,the fisher capital will be recorded in partnership.
Ответ:
The average hours worked is 8 hours
Explanation:
Given
Hours worked on
Monday = 8
Tuesday = 10
Wednesday = 7
Thursday = 9
Friday = 6
Average Hours Worked is given by: Summation of Observation/Number of Observation.
Summation of Observation ,= 8 + 10 + 7 + 9 + 6
= 40 hours
Number of Observation = 5
Average = 40 hours/5
Average Hours Worked = 8 hours