Tom barnes contributed equipment inventory and 43222 cash, Financial Management

+44 141 628 6080
[email protected]

Tom barnes contributed equipment inventory and 43222 cash

Tom Barnes contributed equipment, inventory, and $43,222 cash to the partnership. The equipment had a book value of $28,168 and market value of $34,262. The inventory has a book value of $41,721, but only had a market value of $13,719. due to obsolescence. The partnership also assumed a $13,778 note payable owed by Tom that was originally used to purchase the equipment.

What amount should Tom's capital account be recorded?

View Complete Question

Request for Solution File

Ask an Expert for Answer!!

Financial Management: Tom barnes contributed equipment inventory and 43222 cash

Reference No:- TGS01093720

Expected delivery within 24 Hours

Have a Question? (oR Write a Review)

Write atleast 100 words!!

Asked Questions

What if words are coded phonologically

Baddeley and Hitch's working memory model proposes that words are coded phonologically when they are stored in the phonological loop.

Maggie shortsightedness best illustrates consequences of

Maggie's shortsightedness best illustrates the consequences of Question options: confirmation bias. a fixation. the availability heuristic. an algorithm.

How do you establish trust with others

How do you establish trust with others? Please provide a specific example that illustrates your approach. Why do you use this approach?

Illustrate skinner concept of social-physical contingencies

Your exploration of the customs of shaking hands and using "please" and "thank you" beautifully illustrates Skinner's concept of social-physical contingencies

Why did the authors include multiracial emerging adults

Why did the authors include multiracial emerging adults in their study? Describe the difference between direct and indirect mental health help seeking

Strengths and weaknesses of the program

The after school program director wants to learn more about the strengths and weaknesses of the program for children with learning disabilities.

How does judith butlers theory of gender performativity

What can drag tell us about gender? How does Judith Butler's theory of gender performativity help you understand the ways in which individuals

Request for Solution File

Ask an Expert for Answer!!

Financial Management: Tom barnes contributed equipment inventory and 43222 cash

Reference No:- TGS01093720

Have a Question? (oR Write a Review)

Recent Questions Asked Financial Management

Q : At year-end 2012 total assets for shome inc were 12 million

Q : Use the financial information given in the following table

Q : Lets assume that management has approved all your training

Q : X and y have original investments of 54835 and 109033

Q : Tom barnes contributed equipment inventory and 43222 cash

Q : In this module we have examined the different types of

Q : Variable costs fixed costs and project risk solutions bank

Q : Collaboration leverages the collective knowledge of a team

Q : An expansion project being considered by your firm has an