Answer | ||
Journal Entry | ||
Account Title and Explaination | Debit | Credit |
Cash | $ 53,900 | |
Decker's Capital Account | $ 53,900 | |
(To Record Investment in Decker) | ||
Land | $ 17,300 | |
Building | $ 78,600 | |
Rosen's Capital Account | $ 95,900 | |
(To Record Investment in Rosen) | ||
Cash | $ 13,300 | |
Accounts receivable | $ 35,600 | |
Equipment | $ 21,200 | |
Allowances for Doubtful Debt | $ 3,560 | |
Toso's Capital Account | $ 66,540 | |
(To Record Investment in Toso) | ||
Working | ||
Allowances for Doubtful Debt = $ 35,600 - $ 32,040 = $ 3560 |
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Exercise 12-02 a-b (Part Level Submission) (Video) K. Decker, S. Rosen, and E. Toso are forming...
its part a and b in the other picture
Exercise 12-2 K. Decker, S. Rosen, and E. Toso are forming a partnership. Decker is transferring $52,400 of personal cash to the partnership. Rosen owns land worth $17,900 and a small building worth $75,940, which she transfers to the partnership. Toso transfers to the partnership cash of $10,350, accounts receivable of $30,320 and equipment worth $15,810. The partnership expects to collect $27,288 of the accounts receivable. Prepare the journal entries to...
E12-2 K. Decker, S. Rosen, and E. Toso are forming a partnership Decker is transferring $50,000 of personal cash to the partnership. Rosen owns land worth $15.000 and a small building worth $80,000, which she transfers to the partnership. Toso transfers to the part- nership cash of $9.000. accounts receivable of $32,000, and equipment worth $39,000. The partnership expects to collect $29,000 of the accounts receivable Instructions (a) Prepare the journal entries to record each of the partners investiments. (b)...
E12-2 K. Decker, S. Rosen, and E. Toso are forming a partnership. Decker is transferring $50,000 of personal cash to the partnership. Rosen owns land worth $15,000 and a small building worth $80,000, which she transfers to the partnership. Toso transfers to the part- nership cash of $9,000, accounts receivable of $32,000, and equipment worth $39,000. The partnership expects to collect $29,000 of the accounts receivable Instructions (a) Prepare the journal entries to record each of the partners' investsnents (b)...
Homework E12-2 K. Decker,S. Rosen, and E. Toso are forming a partnership. Decker is transferring 50,000 of personal cash to the partnership. Rosen owns land worth $15,000 and a small building worth $80,000, which she transfers to the partnership. Toso transfers to the part- nership cash of $9,000, accounts receivable of $32,000, and equipment worth $39,000. The partnership expects to collect $29,000 of the accounts receivable Instructions (a) Prepare the journal entries to record each of the partners' investments. (b)...
you have to label it
like (a........
(b..........
Homework E12-2 K. Decker,S. Rosen, and E. Toso are forming a partnership. Decker is transferring 50,000 of personal cash to the partnership. Rosen owns land worth $15,000 and a small building worth $80,000, which she transfers to the partnership. Toso transfers to the part- nership cash of $9,000, accounts receivable of $32,000, and equipment worth $39,000. The partnership expects to collect $29,000 of the accounts receivable Instructions (a) Prepare the journal entries...
K. Decker, S. Rosen, and E. Toso are forming a partnership. Decker is transferring $45,000 of personal cash to the partnership. Rosen owns land worth $10,000 and a small building worth $75,000, which she transfers to the partnership. Toso transfers to the partnership cash of $10,000, accounts receivable of $27,000, and equipment worth $14,000. The partnership expects to collect $24,300 of the accounts receivable. Prepare the journal entries to record each of the partners’ investments. (Credit account titles are automatically...
LUPrect the statement. s. Rosen, and E. Toso alse ship liabilities ific assets he 30,000 of bu9,000,accounts receivable of $32.000, and equipment worth $39,000. The 12-2 K. Decker, l cash to the partnership. Rosen owns land worth $15,000 and a small of a partnership. S80.000, which she transfers to the partnership. Toso transfers to the part- o are forming a partnership. Decker is transferring Jounalics entry for formation s to collect $29,000 of the accounts receivable. ournal entries to record...
Question A. Wiggins, L. Stokes, and K. Hayes are forming a partnership. Wiggins is transferring $75,000 of personal cash to the partnership. Stokes owns land worth $25,000 and a small building worth $120,000, which she transfers to the partnership. Hayes transfers to the partnership cash of $14,000, accounts receivable of $48,000 and equipment worth $28,000. The partnership expects to collect $45,000 of the accounts receivable. (a) Prepare the journal entries to record each of the partners' investments. (Credit account titles...
up Formation A. Wiggins, L. Stokes, and K. Hayes are forming a partnership. Wiggins is transferring personal cash to the partnership. Stokes owns land worth $25.000 and a small buio $120,000, which she transfers to the partnership. Hayes transfers to the partnership cas $14,000, accounts receivable of $48,000 and equipment worth $28,000. The partnership expects to collect $45,000 of the accounts receivable. Instructions Prepare the journal entries to record each of the partners' investments.
Exercise 12-12 a-b (Part Level Submission) S. Pagan and T. Tabor share income on a 6:4 basis. They have capital balances of $100,000 and $50,000, respectively, when W. Wolford is admitted to the partnership. Prepare the journal entry to record the admission of W. Wolford under each of the following assumptions. v (a) Investment of $85,000 cash for a 30% ownership interest with bonuses to the existing partners. (Credit account titles are automatically indented when amount is entered. Do not...