K. Billie, S. Piper, and E. Rose are forming a partnership. Billie is transferring $50,000 of personal

Question:

K. Billie, S. Piper, and E. Rose are forming a Billie is transferring $50,000 of personal cash to the Piper owns land worth $15,000 and a small building worth $80,000, which she transfers to the Rose transfers to the cash of $9,000, of $32,000 and equipment worth $19,000. The expects to collect $29,000 of the Prepare the journal entries to record each of the partners’ investments.
(b) What amount would be reported as total owners’ equity immediately after the investments?

Accounts Receivable
Accounts receivables are debts owed to your company, usually from sales on credit. Accounts receivable is business asset, the sum of the money owed to you by customers who haven’t paid.The standard procedure in business-to-business sales is that... Partnership
A legal form of business operation between two or more individuals who share management and profits. A Written agreement between two or more individuals who join as partners to form and carry on a for-profit business. Among other things, it states...