Ask Question, Ask an Expert

+1-415-315-9853

info@mywordsolution.com

Ask Accounting Basics Expert

Two partners, Smith and Wesson, owned and operated a successful fast food business together for 15 years. During the past year, the two partners have had an increasing number of serious arguments about how to operate the business and about planned future expansion of the business. Both partners have agreed that they no longer can operate the business together. Either partner is willing to sell his share of the business to someone else and to get out of the fast food business altogether. An independent appraiser has valued the total value of the business at $1.5 million. Partner Smith owns 49 percent of the business, and Partner Wesson owns 51 percent of the business. What is the value of each partner's share of the business and what was the basis of your evaluation of the partners' share of the business?

Accounting Basics, Accounting

  • Category:- Accounting Basics
  • Reference No.:- M945525

Have any Question? 


Related Questions in Accounting Basics

Question 1the following transactions occurred during july o

Question 1 The following transactions occurred during July: o Received $900 cash for services provided to a customer during July. o Received $2,200 cash investment from Barbara Hanson, the owner of the business. o Receiv ...

Discussion 1-iasb and fasb mergersir david tweedie chairman

Discussion 1-IASB and FASB Merger? Sir David Tweedie, chairman of the International Accounting Standards Board (IASB), is quoted as saying that the IASB and the Financial Accounting Standards Board (FASB) will eventually ...

Question 1the company you work for has a large amount of

Question 1 The company you work for has a large amount of disposable cash and very little debt on its books. The board of directors has expressed an interest in taking this money and investing in equity and debt securiti ...

Payrolllocate a payroll processing company you may either

Payroll Locate a payroll processing company. You may either contact one in person, by telephone, or conduct an Internet search. Write a brief report describing the advantages and disadvantages of using a payroll processi ...

Niagular corp just reported a net income of 8500000 amp its

Niagular Corp. just reported a net income of $8,500,000 & its current stock price is $25.75 per share. Niagular Corp. is forecasting an increase of 25% for its net income next year, but it also expects it will have to is ...

Accounting discussion questionaccounts receivable bad debt

Accounting Discussion Question "Accounts Receivable Bad Debt Expense (Direct Write Off Method Vs Allowance Method)": • Discuss the primary advantages and disadvantages of applying the direct write-off over the allowance ...

Assignmentpart iexplain what you learn about the

Assignment PART I Explain what you learn about the disclosures of your SEC 10-K company relating to Income Taxes. Your comments should relate to net income or loss as well as to the balance sheet treatment and disclosure ...

Assignmentpaper 1excel spreadsheet and 1-2 pagesconsider

Assignment Paper #1 Excel Spreadsheet and 1-2 pages Consider the following scenario: Andre has asked you to evaluate his business, Andre's Hair Styling. Andre has five barbers working for him. (Andre is not one of them.) ...

Discussion forumthis week we shall look at monopolistic

DISCUSSION Forum This week we shall look at Monopolistic Competition. This is where you, as a consumer, spend most of your time. In Monopolistic Competition, there are many companies selling similar but not identical pro ...

Question 1jian rarimbal and dan are considering setting up

Question 1: Jian, Rarimbal and Dan are considering setting up a company providing 2 hour hot air balloon trips for groups of 10 tourists at a time. The trips will include some food and drink for the tourists. They have d ...

  • 4,153,160 Questions Asked
  • 13,132 Experts
  • 2,558,936 Questions Answered

Ask Experts for help!!

Looking for Assignment Help?

Start excelling in your Courses, Get help with Assignment

Write us your full requirement for evaluation and you will receive response within 20 minutes turnaround time.

Ask Now Help with Problems, Get a Best Answer

Section onea in an atwood machine suppose two objects of

SECTION ONE (a) In an Atwood Machine, suppose two objects of unequal mass are hung vertically over a frictionless

Part 1you work in hr for a company that operates a factory

Part 1: You work in HR for a company that operates a factory manufacturing fiberglass. There are several hundred empl

Details on advanced accounting paperthis paper is intended

DETAILS ON ADVANCED ACCOUNTING PAPER This paper is intended for students to apply the theoretical knowledge around ac

Create a provider database and related reports and queries

Create a provider database and related reports and queries to capture contact information for potential PC component pro

Describe what you learned about the impact of economic

Describe what you learned about the impact of economic, social, and demographic trends affecting the US labor environmen