Prepare the opening entry for the formation of the Partnership L and W as of July 1, using fair values.

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Plutonium Casting has 30 employees, who are distributed as follows: Design 6 employees Fabrication 2 employees Purchasing 2 employees Administration 10 employees Sales 10 employees The payroll-related costs for the year are $798,096. If Plutonium Casting does use departmental classification, how much is allocated to the Sales department? Note: Do not round intermediate calculations. Round final answer to 2 decimal places. Multiple Choice $53,206.40 $266,032.00 $159,619.20 $53,206.40

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Chapter 19, Problem 6SPB

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Prepare the opening entry for the formation of the Partnership L and W as of July 1, using fair values.

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