Question

Chapter 12 eBook Show Me How Calculator Recording Partner's Original Investment 1 EX 12.03.EXCEL ALGO Instruction Chart of Accounts Journal 2. EX 12.18 EXCEL ALGO Instruction 3. EX 12.08 BLANKSHEETAL... 4. PE 1203A BLANKSHEET 5. EX 1201 BANSHEETAL... Vanessa Kaser and Mariah Newman decide to form a nacheshi by combining the assets of their separate businesses Kaiser contributes the following assets to the pateicas, 524500, accounts receivable with a tece amount of $161.0 and an allowance for doubt accounts of 54490, merchandise inventory with a cost of 504.000, and equipment with a cost of $137.50 and accumulated depreciation of S4560 The partners agree that $6,000 of the accounts receivable are completely worthless and are not to be accepted by the partnership that 54,600 is a reasonable allowance for the collection of the remaining accounts, that the merchandise inventory is to be recorded at the current market price of $99.950, and that the equipment is to be valued at $30.040 6. PE 12 01A BLANKSHEET 7. PE 1204 BPE 12043 9. EX 12 10 BLANKSHEETAL... Required: On December 1. jumate ne ship's entry to record ser investment Refer to the chart of accounts for the exact wording of the account des CNOW tumals do not use Anes forumarexplanations Every line on a journal page is used for debitor credients CNOW Journals womacy menta credit when a credit amount is need 10. PR 12 03 BLANKSHEETA... revious Next

Answer 1

Date Credit Equity Dec-01 $ $ $ $ Journal Description Post Ref. Cash Accounts Receivable Merchandise Inventory Equipment Accumulated Depreciation-Equipment Allowance for Doubtful Accounts Vanessa Kaiser, Capital (To record Kaiser's capital contribution) Debit 24,500 155,310 99,950 134,720 Accounting Equation Assets Liabilities 24,500 155,310 99,950 134,720 (45,680) (4,680) $ $ $ $ 45,680 $ 4,680 $ 364,120 $ $ $ $ 364,120