On June 30, 2019, Rick Reeves, Jason Bateman, and Oliver Morali started a partnership called RJO Enterprises.
Question:
On June 30, 2019, Rick Reeves, Jason Bateman, and Oliver Morali started a partnership called RJO Enterprises. Prepare an opening balance sheet showing their investments:
R. Reeves - - - - - - - - - Land appraised at $150,000
J. Bateman - - - - - - - - - Cash, $175,000
O. Morali - - - - - - - - - Inventory, $105,000; accounts payable $30,000
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