Suppose the following items were taken from the balance sheet of Nike, Inc. (All dollars are in millions.) 1. Cash $2,100.0 7. Inventory $2,300.0
2. Accounts receivable 2,600.0 8. Income taxes payable 70.0
3. Common stock 2,830. 0 9. Equipment 2,000.0
4. Notes payable 310.0 10. Retained earnings 4,850.0
5. Buildings 3,800.0 11. Accounts payable 3,400.0
6. Mortgage payable 1,340.0
Classify each of these items as an asset, liability, or stockholders' equity, and determine the total dollar amount for each classification. (Enter amounts in millions to 1 decimal place, e. g. 45.5 million.)
Stockholders' Equity - Cash
Stockholders' Equity Accounts receivable
Liability Common stock
Stockholders' Equity Mortgage payable
Liability Inventory
Liability Income taxes payable
Assets $ 2000
Liability $
Stockholders' Equity $

The struter partnership has total partners’ equity of $510,000, which is made up of main, capital, $400,000, and frist, capital, $110,000. the partners share net income and loss in a ratio of 80% to main and 20% to frist. on november 1, adison is admitted to the partnership and given a 15% interest in equity and a 15% share in any income and loss. prepare journal entries to record the admission of adison for a 15% interest in the equity and a 15% share in any income and loss under the following independent assumptions. (1) record the admission of adison with an investment of $90,000 for a 15% interest in the equity and a 15% share in any income and loss. (2) record the admission of adison with an investment of $120,000 for a 15% interest in the equity and a 15% share in any income and loss. (3) record the admission of adison with an investment of $80,000 for a 15% interest in the equity and a 15% share in any income and loss.

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On september 1, 2016, steve loaned brett $2,000 at 12% interest compounded annually. steve is not in the business of lending money. the note stated that principal and interest would be due on august 31, 2018. in 2018, steve received $2,508.80 ($2,000 principal and $508.80 interest). steve uses the cash method of accounting. what amount must steve include in income on his income tax return?