K. Decker, S. Rosen, and E. Toso are forming a partnership. Decker is transferring $50.600 of personal cash to the partnership. Rosen owns land worth $15,300 and a small building worth $77,500, which she transfers to the partnership. Toso transfers to the partnership cash of $11,800, accounts receivable of $32,500, and equipment worth $18,800. The partnership expects to collect $29,250 of the accounts receivable. (a) Prepare the journal entries to record each of the partners investments. (Credit account titles are automatically indented when amount is entered. Do not indent manually)

K. Decker, S. Rosen, and E. Toso are forming a partnership. Decker is transferring $50.600 of personal cash to the partnership. Rosen owns land worth $15,300 and a small building worth $77,500, which she transfers to the partnership. Toso transfers to the partnership cash of $11,800, accounts receivable of $32,500, and equipment worth $18,800. The partnership expects to collect $29,250 of the accounts receivable. (a) Prepare the journal entries to record each of the partners investments. (Credit account titles are automatically indented when amount is entered. Do not indent manually)

FINANCIAL ACCOUNTING

10th Edition

ISBN:9781259964947

Author:Libby

Publisher:Libby

Chapter1: Financial Statements And Business Decisions

Section: Chapter Questions

Problem 1Q

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