Apartnership is formed by two individuals who were previously sole proprietors. property other than cash that is part of the initial investment in the partnership would be recorded for financial reporting purposes at the .
a)proprietor's book values or the fair value of the property at the date of the investment, whichever is higher.
b)proprietor's book values or the fair value of the property at the date of the investment, whichever is lower.
c)proprietor's book values of the property at the date of the investment.
d)none of the above.
e)fair value of the property at the date of the investment

Guardian inc. is trying to develop an asset-financing plan. the firm has $450,000 in temporary current assets and $350,000 in permanent current assets. guardian also has $550,000 in fixed assets. assume a tax rate of 40 percent. a. construct two alternative financing plans for guardian. one of the plans should be conservative, with 70 percent of assets financed by long-term sources, and the other should be aggressive, with only 56.25 percent of assets financed by long-term sources. the current interest rate is 12 percent on long-term funds and 7 percent on short-term financing. compute the annual interest payments under each plan.

Frolic corporation has budgeted sales and production over the next quarter as follows. the company has 4100 units of product on hand at july 1. 10% of the next months sales in units should be on hand at the end of each month. october sales are expected to be 72000 units. budgeted sales for september would be: july august september sales in units 41,500 53,500 ? production in units 45,700 53,800 58,150

Rats that received electric shocks were unlikely to develop ulcers if the