Question 1
Assignment Option #2: Fundamental Journal Entries and Calculations
Using the data in the Option 2 Spreadsheet (linked at the bottom of the page), you are to:
- Provide the journal entry to record the asset transfer
- Calculate the amount of goodwill or bargain purchase.
Requirements:
Complete all work on the spreadsheet attached to this assignment. It will be your only deliverable.
Clearly identify the requirements being addressed. Show all calculations within the cells of an Excel spreadsheet. This means that you must use formulas and links so that the thought process can be examined. Make good use of comments to convey your thought process as well. No hard coding of solutions. Submit a single MS Excel file for grading.
Question 2
As you have learned in earlier accounting courses and again in this lesson, partnerships have a unique set of requirements in the formation process.
Prepare a paper that discusses the significant elements of forming a partnership. Conduct research for the laws of the state in which you live that regulate the formation of partnerships. What other types of business formations are allowed by state law? To view the grading criteria, click on the assignment and then “View Rubric” on the next page.
Post in APA format
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