On july 1, 20x1, james and short formed a partnership. james contributed cash. short, previously a sole proprietor, contributed property other than cash, including realty subject to a mortgage, which the partnership assumed. short's capital account on july 1, 20x1, should be recorded ata)the property's fair value less the mortgage payable on july 1, 20x1.b)short's book value of the property on july 1, 20x1.c)short's book value of the property less the mortgage payable on july 1, 20x1.d)the property's fair value on july 1, 20x1.

Nominal gross domestic producta. is a measure of the overall level of pricesb. measures the value of final goods and services produced within the borders of a given country during a given time period using current pricesc. measures the value of final goods and services produced within the borders of a given country during a given time period corrected for changing pricesd. only changes when the level of output changes

Adds up the money earned by producers plus taxes paid to the goverment. a) income approach b) product approach c) expenditure approach

Ardmore farm and seed has an inventory dilemma. they have been selling a brand of very popular insect spray for the past year. they have never really analyzed the costs incurred from ordering and holding the inventory and currently fave a large stock of the insecticide in the warehouse. they estimate that it costs $25 to place an order, and it costs $0.25 per gallon to hold the spray. the annual requirements total 80,000 gallons for a 365 day year.a. assuming that 10,000 gallons are ordered each time an order is placed, estimate the annual inventory costs.b. calculate the eoq.c. given the eoq calculated in part b., how many orders should be placed and what is the average inventory balance? d. if it takes seven days to receive an order from suppliers, at what inventory level should ardmore place another order?