Required: prepare adjusting journal entries on the book

close the book

open a new set of books for the partnership

record the contributions of both partners

prepare balance sheet of the partnership


1. Old stocks of merchandise has appraised its value to 12,000. 00

2. Allowance for bad debts in understated by 200. 00

3. Unrecorded accrued interest on notes receivables dated November 1, 2019 at 5% should be recorded

4. Accrued interest on notes payable issued on July 31, 2019 at 10% should be recognized

5. Net furniture and fixtures is understated by 1,000. 00

N. Lustre will contribute cash and delivery truck the truck was originally valued by N. Lustre as 30,000. 00 but J. Reid estimated it at 20,000. 00 to which N. Lustre agreed N. Lustres capital should be exactly equal to reid capital of 62,200

Answers

Answer 1

Prepare adjusting journal entries, close the book, open a new set of books for the partnership, record the contributions of both partners, and prepare the balance sheet of the partnership.

How to prepare adjusting journal entries and balance sheet for the partnership?

Adjusting Journal Entries:

Debit Merchandise Inventory: 12,000Credit Allowance for Inventory Appraisal: 12,000Debit Bad Debt Expense: 200Credit Allowance for Bad Debts: 200

Debit Interest Receivable: (calculate accrued interest amount based on notes receivable and interest rate)

Credit Interest Revenue: (same amount as above)

Debit Interest Expense: (calculate accrued interest amount based on notes payable and interest rate)

Credit Interest Payable: (same amount as above)

Debit Furniture and Fixtures: 1,000

Credit Accumulated Depreciation - Furniture and Fixtures: 1,000

N. Lustre's Contribution:

Debit Cash: (amount contributed by N. Lustre)

Debit Delivery Truck: 20,000

Credit N. Lustre's Capital: (total contributed amount)

J. Reid's Capital:

Credit J. Reid's Capital: 62,200

Balance Sheet of the Partnership:

Include the capital balances of N. Lustre and J. Reid

List the current assets, fixed assets, current liabilities, and long-term liabilities of the partnership

Calculate the total assets, total liabilities, and partners' equity

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Related Questions

According to the manufacturer of the candy Skittles, 20% of the candy produced are red. If we take a random sample of 100 bags of Skittles, what is the sampling distribution for proportion

Answers

According to the manufacturer of the candy Skittles, 20% of the candy produced is red. If we take a random sample of 100 bags of Skittles, the sampling distribution for proportion is obtained.

The sampling distribution is the distribution of a statistic based on samples drawn from a population. If draw all possible samples of a given size from a population, the mean and standard deviation of that sample are the expected value and standard error of the sampling distribution.

The sampling distribution of a proportion is a probability distribution of sample proportions drawn from a population. The mean of a sampling distribution of a proportion is the population proportion itself; that is, the sampling distribution's mean is equal to p.

The standard deviation of a sampling distribution of a proportion is known as the standard error of the proportion. The formula for the standard error of the proportion is

standard error of the proportion = sqrt(pq/n),

where p = proportion of individuals in the population that has a certain characteristic q = 1-pn = size of the sample.

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how to calculate z score from mean and standard deviation?

Answers

To calculate the z-score from a given value, mean, and standard deviation, you can use the following formula:

z = (x - μ) / σ

z-score can be calculated using the formula

z = (x - μ) / σ

where:

- z is the z-score

- x is the value you want to standardize

- μ is the mean of the data set

- σ is the standard deviation of the data set

Here are the steps to calculate the z-score:

1. Determine the value you want to standardize (x).

2. Calculate the mean (μ) and the standard deviation (σ) of the data set.

3. Subtract the mean from the value you want to standardize (x - μ).

4. Divide the result by the standard deviation (σ) to get the z-score.

The z-score measures how many standard deviations an individual data point is away from the mean. A positive z-score indicates that the value is above the mean, while a negative z-score indicates that the value is below the mean. The magnitude of the z-score represents the distance from the mean in terms of standard deviations.

By calculating the z-score, you can compare different data points and determine their relative positions within a distribution. The z-score is useful for standardizing data and identifying outliers or unusual observations.

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14. sat test when making a random guess for an answer to a multiple choice question on an sat test, the possible answers are a, b, c, d, e, so there is 1 chance in 5 of being correct.

Answers

That's correct. When making a random guess on a multiple-choice question on the SAT test, with five answer choices (a, b, c, d, e), there is a 1 in 5 or 20% chance of being correct.

What is a proccedure of making a random guess multiple choice question on an sat test?

The SAT (Scholastic Assessment Test) is a standardized test used for college admissions in the United States.

The test measures a student's readiness for college-level work and is generally taken by high school juniors and seniors.

The SAT has several sections, including reading, writing and language, math (with calculator), math (without calculator), and an optional essay. Each section of the SAT includes multiple-choice questions, with four or five answer choices for each question.

When making a random guess for an answer to a multiple-choice question on the SAT, you simply select one of the answer choices without any prior knowledge or reasoning about the question.

To make a random guess, you can choose an answer choice that feels lucky, use a systematic method like always choosing "C" or "B," or close your eyes and point to an answer choice.

However, keep in mind that random guessing is not likely to result in a high score, and may even decrease your score due to penalties for incorrect answers.

Therefore, it is generally recommended to only guess on a question when you can eliminate at least one or two answer choices as incorrect.

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HELP ME ASAP A die is rolled 8 times and you get 4, three times. What is the experimental probability of rolling a four?

Answers

Answer:

1/2 or 50%

--------------------

The experimental probability is the ratio of actual outcomes and total outcomes:

P(Ex) = 4/8 = 1/2 or 50%

n
Marta said that she would complete the table of equivalent ratios by adding 2 to each number in the x and y rows to
find the next pair of numbers. Marta's solution does not work. What should Marta have done?
х
Equivalent Ratios
2 4
3 6
у
Marta's solution does not work. What should Marta have done?
O Marta should have plotted the ordered pairs that were given and then, starting with the last point, moved up 3 and
right 2 to find each next point.
Marta should have plotted the ordered pairs that were given and then, starting with the last point, moved up 2 and
right 3 to find each next point.
O Marta should have plotted the ordered pairs that were given and then, starting with the last point, moved down 3
and right 2 to find each next point.
O Marta should have plotted the ordered pairs that were given and then, starting with the last point, moved down 2
and right 3 to find each next point.
Mark this and return
Save and Exit
Next
Submit

Answers

Answer:

B

Step-by-step explanation:

Answer:

its A

Step-by-step explanation:

i took the test

An altitude is drawn from the vertex of an isosceles triangle, forming a right angle and two congruent triangles. As a result, the altitude cuts the base into two equal segments. The length of the altitude is 30 inches, and the length of the base is 15 inches. Find the triangle’s perimeter. Round to the nearest tenth of an inch.

Answers

Check the picture below.

\(\stackrel{\textit{\LARGE Perimeter}}{15~~ + ~~\sqrt{956.25}~~ + ~~\sqrt{956.25}}\implies 15 ~~ + ~~61.8 ~~ \approx ~~ \text{\LARGE 76.8}\)

An altitude is drawn from the vertex of an isosceles triangle, forming a right angle and two congruent

a smoke-detector system consists of two parts a and b. if smoke occurs then item a detects it with probability 0.95, item b detects it with probability 0.98 whereas both of them detect it with probability 0.94. what is the probability that the smoke will not be detected?

Answers

The probability that the smoke will undetected is 3/1000.

What is probability?Probability is a measure of the possibility of an event occurring. The likelihood could range from 0 to 1, where 0 indicates an impossibility and 1 indicates a certainty. Probability is the ratio of possible outcomes to the total outcomes. The likelihood of two or more occurrences occurring sequentially. The events are either dependent or independent events since there are two or more of them. A dependent event, also known as a conditional event, is one in which the occurrence of the initial event has an impact on subsequent occurrences. The overall number of results will vary.

The formula of probability is as follows:

P(E) = Possible outcomes/total outcomes

For instance, when we flip a coin, there are just two possible results:

Head OR Tail (H, T).

Then,

Only: (1-0.95)*0.90Neither: (1-0.95)*(1-0.90)∴ 3/1000

Therefore, there is a 3/1000 probability that the smoke may go unnoticed.

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Joni climbed 230 feet up a hill and then rappelled down 300 feet into a valley.

Write an addition expression to represent the situation

Answers

Answer:

230-300= -70

All you have to do is subtract :)

A researcher wants to test that the mean age of bus drivers in Chicago is 56.4 years old What are the appropriate nul and alternate hypotheses? O
A. H0= 58A, H1:mu < 56A B. H0. TU = 58A, H1:mu> 56A C. H0.mu.19.56A, H1 = 56A D. H0. = 56.A. H1mu.ne.56A

Answers

The appropriate nul and alternate hypotheses is option ( D) H0: μ = 56.4, H1: μ ≠ 56.4.

In hypothesis testing, the null hypothesis (H0) is the statement that there is no significant difference between the population parameter (in this case, the mean age of bus drivers in Chicago) and a specified value (in this case, 56.4 years old). The alternative hypothesis (H1) is the statement that there is a significant difference between the population parameter and the specified value.

The appropriate null and alternative hypotheses for the given scenario can be stated as follows

H0: μ = 56.4 (the population mean age of bus drivers in Chicago is 56.4 years old)

H1: μ ≠ 56.4 (the population mean age of bus drivers in Chicago is not equal to 56.4 years old)

Therefore, the correct option is (D) H0: μ = 56.4, H1: μ ≠ 56.4.

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Change the word phrase to an algebraic expression. Use x to represent the number. The product of 9 and two more than a number

Answers

The algebraic expression for "The product of 9 and two more than a number" is 9(x + 2).

In the given word phrase, "a number" is represented by the variable x. The phrase "two more than a number" can be translated as x + 2 since we add 2 to the number x. The phrase "the product of 9 and two more than a number" indicates that we need to multiply 9 by the value obtained from x + 2. Therefore, the algebraic expression for this word phrase is 9(x + 2).

"A number": This is represented by the variable x, which can take any value.

"Two more than a number": This means adding 2 to the number represented by x. So, we have x + 2.

"The product of 9 and two more than a number": This indicates that we need to multiply 9 by the value obtained from step 2, which is x + 2. Therefore, the algebraic expression becomes 9(x + 2).

In summary, the phrase "The product of 9 and two more than a number" can be algebraically expressed as 9(x + 2), where x represents the number.

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Your classmate says that the solutions to the given inequality are x > -2. Look carefully at the work. Should your friend have reversed the inequality​ symbol? Explain. Then solve the inequality correctly.

Please don't send those annoying files, I'm not trying to get a virus on my laptop. Please, if you can, just write out the steps/answer(s).

Your classmate says that the solutions to the given inequality are x &gt; -2. Look carefully at the work.

Answers

Answer:

x < -2 (No, he shouldn't have reversed the inequality symbol).

Step-by-step explanation:

Given the algebraic expression;

19 - 2(1 - x) < 13

Opening up the bracket, we have;

19 + (-2*1) + (-2*-x) < 13

19 + (-2) + (2x) < 13

19 - 2 + 2x < 13

17 + 2x < 13

Rearranging the equation, we have;

2x < 13 - 17

2x < -4

Dividing both sides by 2, we have;

x < -2

Hence, your friend shouldn't have reversed the inequality symbol (sign).

Note: you should only flip the inequality symbol (sign) when you're dividing by a negative number such as -2.

For example, if we had re-arranged the equation as;

17 - 13 < -2x

4 < -2x

Dividing both sides by -2, we have;

4 > x

rewrite 1/4 book 1/3hour as a unit rate

Answers

Based on the mathematical statement, the unit rate is 3/4 books per hour

How to rewrite the expression as a unit rate?

The mathematical statement is given as

"rewrite 1/4 book 1/3hour as a unit rate"

The above means that

Book = 1/4

Time = 1/3 hour

The unit rate is then calculated as

Unit rate = Book/Time

Substitute the known values in the above equation

So, we have the following equation

Unit rate = (1/4)/(1/3)

Evaluate

Unit rate = 3/4

Hence, the solution is 3/4 books per hour

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I will mark as brainliest plzz!!

Which equation is true for X = 1.8

I will mark as brainliest plzz!!Which equation is true for X = 1.8

Answers

Answer:

x=9/5

and as a decimal it is 1.8

Step-by-step explanation:

Es la segunda es la  que empieza por 3

A mother is 25 years older than her daughter If the daughter's age is x years? (a) Express the mother's age in terms of x (b) Find x when the daughter's is one third of her mother's age​

Answers

a) The linear equation is:

y = 25 + x

b) When the daughter's is one third of her mother's age​ we will have x = 12.5

How to express the mother's age in terms of x?

We know that the mother is 25 years older than the daughter, so, if the daughter's age is x, the mother's age can be defined as the linear equation:

y = 25 + x

b) When the daughter's age is one third of her mother's, we have:

x = (1/3)*y

3x = y

Replacing that in the equation above we will get:

3x = 25 + x

3x - x = 25

2x = 25

x = 25/2 = 12.5

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Each if the 24 students in Mr. Macons class flipped 3 coins. How many students would you expect to get 3 heads.

Answers

Solution

\(n=24\)

The probability of getting 3 heads from 3 coins is

\(p=\frac{1}{8}\)

The expected value will be

\(\begin{gathered} E(X)=24\times\frac{1}{8} \\ \\ E(X)=3 \end{gathered}\)

The answer is 3 students

Please help me! If you don’t know the answer pls pls don’t answer, I’m in the middle of a test!

Please help me! If you dont know the answer pls pls dont answer, Im in the middle of a test!

Answers

Answer:

< Y, < W, < X

Step-by-step explanation:

Bigger the side length, Larger the opposite angle.

If you do NOT assume the weather each day is independent (meaning if it rains on Saturday that increases the probability of having rain on Sunday) what is the probability it will rain on the first Saturday AND on that Sunday

Answers

When you do NOT assume the weather each day is independent (meaning if it rains on Saturday that increases the probability of having rain on Sunday), the probability that it will rain on the first Saturday AND on that Sunday depends on how the weather is dependent. The probability of rain on the first Saturday is not given;

let it be x. Then the probability of rain on Sunday depends on what happened on Saturday. If it rained on Saturday, then the probability that it rains again on Sunday is p. If it did not rain on Saturday, then the probability that it rains on Sunday is q.

Then the probability that it will rain on the first Saturday AND on that Sunday is given byxp + (1-x)q.Here x is the probability of rain on Saturday and (1-x) is the probability of no rain on Saturday. The probability of rain on Sunday, given that it rained on Saturday, is p. The probability of rain on Sunday, given that it did not rain on Saturday, is q. Therefore, the probability that it will rain on the first Saturday AND on that Sunday isxp + (1-x)q.

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Avani is building a rectangular play area. The length of the play area is 7.5 meters. The width of the play area is 5.3 meters. If she wants to cover the area in foam, how much foam does she need to buy?

.

Answers

39.8 is the answer
hope this helps!

Answer:

She will need to buy 39.75 meters of foam

Step-by-step explanation:

HELP WILL GIVE THE MOST POINTS IT LETS ME NEED ANSWER SOON

HELP WILL GIVE THE MOST POINTS IT LETS ME NEED ANSWER SOON

Answers

Answer:

c. -5x - 2 = -42

Step-by-step explanation:

Have a nice day! :-)

Answer:

-5x-2 = -42

Step-by-step explanation:

less than means you do this after what comes next

Product of a number and -5

-5x

Two less than

-5x -2

is means equals

-5x-2 = -42

The human resources manager at a company records the length, in hours, of one shift at work, X. He creates the probability distribution below. What is the probability that a worker chosen at random works at least 8 hours? A probability distribution has the number of hours on the x-axis and the probability on the y-axis. The probability of 6 hours is 0. 02; 7 hours is 0. 11; 8 hours is 0. 61; 9 hours is 0. 15; 10 hours is 0. 9. 0. 62 0. 78 0. 84 0. 96.

Answers

The probability that a worker chosen at random works at least 8 hours is Option C: 0.84 approx.

How to evaluate the probability of a random variable getting at least some fixed value?

Suppose the random variable in consideration be X, and it is discrete.

Then, the probability of X attaining at least 'a' is written as:

\(P(X \geq a)\)

It is evaluated as:

\(P(X \geq a) = \sum_{\forall \: x_i \geq a} P(X = x_i)\)

The probability distribution of X is:

        x                      f(x) = P(X = x)

        6                               0.02
        7                               0.11

        8                               0.61

        9                               0.15

        10                              0.09

Worker working at least 8 hours means X attaining at least 8 as its values.

Thus, probability of a worker chosen at random working 8 hours is

P(X ≥ 8) = P(X = 8) + P(X = 9) +P(X = 10) = 0.85 ≈ 0.84 approx.

By the way, this probability distribution seems incorrect because sum of probabilities doesn't equal to 1.

The probability that a worker chosen at random works at least 8 hours is Option C: 0.84 approx.

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a random sample of 24 cars found the average tire pressure was 22 psi with a standard deviation of 5 psi. safety manuals suggest the tire pressure should be at 28 psi. is there enough evidence to say at the 9% significance level that the average is less than 28?

Answers

Yes, there is enough evidence to say at the  9% significance level that the average is less than 28

Sample Size, n = 24

Sample Mean , x = 22

Standard Deviation s = 5

Significance Level α = 9% = 0.09

μ₀ : μ = 28

t- test statistics is,

t =  x -  μ / (s√n)

= 22-28/(5√24)

= -6/(5√24)

t = -0.24494

P-value is,

Degrees of freedom (df) = n-1 = 24-1 = 23

P-value = p(t<-0.24494)

= 0.0035

Therefore p-value is 0.0035

p-value<α, reject μ₀

There is sufficient evidence to support the claim.

A standard deviation (or σ) is a proportion of how distributed the information is corresponding to the mean. A low standard deviation implies information is bunched around the mean, and exclusive expectation deviation shows information is more fanned out.

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how to find the area of a composite figure calculator?

Answers

To find the area of a composite figure, break it down and calculate the area of each individual component and sum up the areas of these components.

1. Identify the different components: Analyze the composite figure and identify its individual shapes or regions. These could be rectangles, triangles, circles, or any other regular or irregular shapes.

2. Calculate the area of each component: Use the appropriate formulas or methods to find the area of each individual shape or region. For example, the area of a rectangle is calculated by multiplying its length by its width, the area of a triangle is calculated using the formula (base * height) / 2, and the area of a circle is calculated using the formula π * (\(radius^2\)).

3. Sum up the areas: Add up the areas of all the individual components to find the total area of the composite figure. Make sure to use consistent units throughout the calculations.

It's important to note that in some cases, the composite figure may have overlapping or intersecting regions. In such cases, you may need to subtract the overlapped areas or apply additional calculations to accurately determine the total area.

While there are online calculators available to find the area of composite figures, it's beneficial to understand the process and formulas involved so that you can manually calculate the area in situations where a calculator is not accessible or when dealing with more complex composite figures.

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A flare is designed to follow the path modeled by the function h(t) = â€"16t2 100t, where t is the time elapsed, in seconds, and h(t) is the height, in feet, of the flare at that time. the function can be used to convert the height in feet to the height in meters. which composite function can be used to determine the height, in meters, of the flare at any given time?

Answers

the composite function that can be used to determine the height, in meters, of the flare at any given time is:
h_meters(t) = 0.3048 * h(t)

To determine the height of the flare in meters at any given time, we can use the composite function. The composite function is obtained by converting the height in feet to meters.


The conversion factor to convert feet to meters is 0.3048. So, we can multiply the height in feet by 0.3048 to get the height in meters.

Therefore, the composite function that can be used to determine the height, in meters, of the flare at any given time is:

h_meters(t) = 0.3048 * h(t)  Where h(t) is the height of the flare in feet, and h_meters(t) is the height of the flare in meters.

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I need this answered thanks a lot

I need this answered thanks a lot

Answers

Answer:

38,000+500=v

Step-by-step explanation:

Answer:

v = 38,000 - 500m

Step-by-step explanation:

For each month you take 500 off, so -500m.

‘The starting value is 38,000 so it’s

v = 38,000 - 500m

:)

Bob invests $500 into an account with 4.5%
interest compounded monthly. How much money
will be in the account in 9 months?
A. $522.97
B. $517.13
C. $743.05
D. $674.56
For my brother

Answers

100 + 4.5 = 104.5

/100 = 1.045

500 x 1.045^9

= $ 743.05

So C

How many 9 digit numbers have their first and last digits even?

Answers

There are 900000000 nine-digits numbers and exactly half of them have an even sum of digits (because every number can be paired with another of the opposite parity by changing the last digit).

Answer:  200,000,000.

we have 9 spaces we need to fill in

There are 10 total numbers(0–9)

There are 5 even numbers(0,2,4,6,8)

fill from left to right

u cannot start with 0 so pick another number 2,4,6,8 any of those

4*10^7*5= 20*10^7 = 2*10^8

200,000,000.

_
Write 0.15 as a fraction in simplest form

Answers

Answer:

The correct answer is \(\frac{3}{20}\).

Consider triangle ABC where AB=X+5, BC=X-2, area is 30cm squared. Find X by solving X^2+3X-70=0, and find the perimeter.

Answers

Answer:

What the hell AC is not given so you can't find the Perimeter

Step-by-step explanation:

x^2+3x-70=0(x-7)(x+10)=0x-7=0

       x+10=0

x=7

       x=-10

AB=x+5

AB=12

        AB=-5

BC=x-2

BC=5

        BC=-12

Area of ABC = 30cm2

Perimeter of ABC = AB+BC+AC

Which is the volume of water in the fish tank shown rounded to the nearest
hundredth?

Which is the volume of water in the fish tank shown rounded to the nearesthundredth?

Answers

Answer:

4.69ft³

Step-by-step explanation:

1.5×2.5×1.25=4.69

What is the length of side A in centimeters?

What is the length of side A in centimeters?

Answers

Answer:

6

Step-by-step explanation:

Answer:

10 cm

Step-by-step explanation:

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