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finance Cash receipts, cash payments, and general journals are given in the *Working Papers*. Journalize the following transactions completed by Ballo Brothers during October of the current year: **Transactions:** Oct 1. Received cash of $30,000.00 and equipment valued at$10,000.00 from partner, Abdalla Ballo, as an initial investment. Receipt No. 1. 1. Received cash from partner, Rashad Ballo, as an initial investment, $36,000.00 Receipt No. 2. 30. Abdalla Ballo, partner, withdrew cash for personal use,$1,500.00. Check No. 47. 30. Rashad Ballo, partner, withdrew supplies for personal use, $1,900.00. Memorandum No. 8. Verified answer Recommended textbook solutions
Other Quizlet setsWhat is one of the obligations An appraiser must ensure in order to ethically perform an appraisal assignment?What is one of the obligations an appraiser must ensure in order to ethically perform an appraisal assignment? An appraiser must ensure partiality. An appraiser must ensure subjectivity. An appraiser must ensure independence.
Which of the following must every appraisal address or include?essenTiAl elemenTs of credible ApprAisAl
The appraisal report must include the definition of value (e.g., market value), the effective date of value, the subject property's relevant characteristics, and any other special instructions from the lender, Fannie Mae, Freddie Mac, VA, FHA, etc.
What is the USPAP quizlet?The concept of public trust means that an appraiser must act: in the public's interest. USPAP establishes standards that are applicable in the appraisal of: real property, intangible property, and personal property. You just studied 173 terms!
What are the two report types permitted by the USPAP?The USPAP guidelines have recognized two types of reports for appraisals: the appraisal report and the restricted appraisal report.
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