Ken invested $200,000 for a 30% interest in a partnership in which he is a material participant. The partnership borrowed $250,000 from a bank and used the proceeds to acquire equipment. What is Ken's at-risk amount if the $250,000 was borrowed on a non-recourse loan? How could Ken's at-risk amount differ if the partnership's business involved a real estate development activity and the debt was secured by land the partnership owns?

Q: Waupaca Company establishes a $350 petty cash fund on September 9. On September 30, the fund shows…

A: Companies incur costs and expenses to run their business. Companies spend a small number of expenses…

Q: Using LIFO, what is the ending balance in inventory? Date $4,800 Source 1/1/2011 Beginning Inventory…

A: The value of products still available for sale and kept by a corporation at the end of an accounting…

Q: differences between the organizations in the text boxes inside the circle for each organization and…

A: Answer : Both GASB and FASB have some similarities and differences, as the purpose of both is the…

Q: For Mardi Gras, Sassy Southerner Boutique purchased 700 sets of boxed Je boxes were sold at the…

A: Mark down is essentially giving a discount. Here the seller lowers the retail price so as to drive…

Q: Explain the following and Include atleast two references. A: The significance of audit data…

A: An audit is an independent review of the books of accounts for a specific period (i.e., a specific…

Q: O'Reilly Incorporated makes and sells many consumer products. The firm's average contribution margin…

A: Variable Cost :— It is the cost that changes with change in units. It is constant in per unit for…

Q: Interest During Construction Snowbird Company is constructing a building that qualifies for interest…

A: 1. Calculation of average expenditure   Actual expenditure time weighted expenditure April 1…

Q: Sanders Inc. has applied $567,988 of overhead to jobs. Actual overhead at the end of the year is…

A: UNDERAPPLIED MANUFACTURING OH Underapplied manufacturing OH is Calculated When Actual OH is…

Q: May I ask what the words say for parts a, b, and g?

A: In equation method entry total asset side should be equal to total of liabilities and equity side.

Q: Prepare the March journal entries for STU Corporation; remember to include an explan journal entry…

A: Journal entry is defined as the recording of transactions in the books of the company. In the…

Q: An equipment has a purchase price (P) of $100,000 with a salvage value (S) of $20,000 and useful…

A: We will use the concept of time value of money here. Using the concept of time value of money, we…

Q: INSTRUCTION: Indicate on the ANSWER SHEET ABOVE, the AMOUNT of the correct answer. 1. - The net…

A: Income Statement An income statement displays the income, costs, and profitability of a business…

Q: IFRS requires annual reviews of long-lived assets (other than goodwill) for reversal indicators. A…

A: Accounting for Impairments   From a GAAP perspective, the asset is recorded at its historical cost,…

Q: dont give handwrtten answer thanku

A: A statement of Financial Affairs is prepared to present a clear and true picture of the current…

Q: On January 1, 2011, Webber Company had a balance of $278,000 in its Land account. During 2011,…

A: Cash flow from investing activities: It is a section of the cash flow statement that shows the cash…

Q: f. Cash (5,300) = Accounts Payable (5,300

A:

Q: 2. Years ago, an apple producer argued that the United States should enact a tariff, or a tariff, or…

A: Imports A commodity or service that was created in another nation and is purchased in one country is…

Q: Massy Distribution Centre (MDC) had 500 boxes of IGA Cornflakes at 30 September 2022 in inventory.…

A: Introduction: The net cost of the products obtained equals the cost of the commodities purchased.…

Q: Account Mountain Top Hardware Adjusted Trial Balance Cash "Nate's reciverble Account's recirable…

A: Income statement is the financial statement which is prepared to depict the entity's profits. It is…

Q: Question 7 Kay Company budgets overhead cost of $3,738,000 for the next year. The company uses…

A: The traditional method of overhead allocation is based on a predetermined overhead rate. The…

Q: A machine has an initial cost of P50,010.596 and a salvage value of P13,779.901 after 7 years. What…

A: Depreciation :— It is decrease in the value of assets due to continuos use of asset.    Straight…

Q: I b) Electroz Ltd has the following data concerning a model electric car it manufactures:< Variable…

A: Cost Plus Pricing Method :— It is a pricing method in which target price is calculated by adding…

Q: Sales Mix and Break-Even Sales Sports Inc. manufactures and sells two products, baseball bats and…

A: When a firm manufactures more than one product, a problem arises as to which product mix yield…

Q: Dean Company has sales of $240,000, and the break-even point in sales dollars is $127,200. Determine…

A: Margin of safety = [(Current sales - Break-Even sales)/Current sales]×100

Q: The King Corporation has total annual revenue of $800,000; expenses other thandeprecation of…

A: Solution: Pretax income = Annual revenue - Expenses other than depreciation - Depreciation expense…

Q: The articles of Spades Ltd. provide inter alia i)  Any shareholder appointed to the position of…

A: Articles of Association The articles of association are a legal document that outline the rules for…

Q: Exercise 11-2A Justin Harris and Paul Berryhill started the HB partnership on January 1, 2011. The…

A: Preparation of income statement ,capital statement ,balance sheet and statement of cash flows are as…

Q: A subsidiary that is 75% owned by its parent company pays a dividend of R100 000. On consolidation…

A: Consolidation: It implies to a process whereby the financial results of two or more than two…

Q: The Products and Se a. Navigation Bar > b. Gear icon c. (+) New icon

A: Quickbooks refers to accounting software that is used by companies in order to store the income and…

Q: Salespersons' Report and Analysis Walthman Industries Inc. employs seven salespersons to sell and…

A: "Contribution margin tells you the aggregate amount of revenue available after variable costs to…

Q: what is the missing infomation Net Sales Cost of Goods Sold Gross Margin Operating Expenses Net…

A: Calculation of missing Figure are as follows

Q: Which is not one of Adam Smith's canons (principles) of taxation A. Economy in collection O B.…

A: Lets understand the basics. Adam smith's canons of taxation are the guiding rules, regulation and…

Q: The management of Nixon Corporation is investigating purchasing equipment that would cost $540,000…

A: A simple rate of return can be calculated by dividing the net income by total assets. It indicates…

Q: On October 1, 2011, Smart Corporation declared a $60,000 cash dividend to be paid on December 30 to…

A: Dividend is the distribution of profit among the shareholders of the company. It can be declared…

Q: a) Sketch the cycle on P-v and T-s diagram. b) Evaluate the heat transfer and wor for the above…

A: SOLUTION:- a) P-V /T-S Diagram;-

Q: 1. Capital structure is important as it helps maintains a proper and adequate level of capital,…

A: Capital Structure refers to a specific combination of debt and equity used by a company for…

Q: Relevant Range and Fixed and Variable Costs Child Play Inc. manufactures electronic toys within a…

A: Variable Cost per unit remains same, and fixed cost in total remains constant.

Q: What are the differences between a company using absorption costing and variable costing when they…

A: Absorption Costing : It is one of the methods of calculation of product costs. Under this method,…

Q: The controller of Crane Production has collected the following monthly cost data for analyzing the…

A: The high-low method is used to differentiate the mixed cost. The mixed cost is the combination of…

Q: Paul Williams recently joined XYZ2 Limited as the head of the accounting department. Williams spent…

A: Audit involves an independent examination of financial records with a view to provide an opinion on…

Q: not a transaction) 9. Hasan, a Chartered Accountant, started his own accounting firm. The…

A: The accounting cycle's objective is to guarantee that all money entering and leaving a firm is…

Q: Brief Exercise 6-5 Calculate ending inventory and cost of goods sold using FIFO (LO6-3) During the…

A: calculation ending inventory and cost of goods sold are as follows

Q: Journalize the following transactions that occurred in March for Downton Company. Assume Downton…

A: Solution A journal is the first entry book or book of original entry book in which all business…

Q: Discuss the government accounting system in Trinidad and Tobago.

A: The government accounting system in Trinidad and Tobago is known as the National Accounts System…

Q: Define and explain the following. Provide two references A: Audit  data analytics B: Audit data…

A: Data analytics has been for a long in a variety of forms, but businesses are now finding more…

Q: Present Value of Bonds Payable; Premium Moss Co. issued $350,000 of four-year, 13% bonds, with…

A: Time value of money :— According to this concept, value of money in present day is greater than the…

Q: Katie is a shareholder in Engineers One, a civil engineering company. This year, Katie's share of…

A: Calculation of Qualified business income are as follows

Q: Following are unadjusted balances along with year-end adjustments for Quinlan Company. Complete the…

A: The adjustment entries are prepared to adjust the revenue and expenses of the current period.  The…

Q: Eles. Its December income statement follows. Sales Cost of goods sold Gross profit MERLINE…

A: The budgeted income statement is often based on the actual results of prior periods, adjusted for…

Q: _____ management exists to provide advice and assistance to those responsible for attaining the…

A: Ans. There are various management who look out the specific duties they are assigned for.