Question: Could aomeone please help me with this. The post-closing trial balances of two proprietorships on January 1,2022 , are presented below. Sorensen and Lucas decide





The post-closing trial balances of two proprietorships on January 1,2022 , are presented below. Sorensen and Lucas decide to form a partnership, Ivanhoe Company, with the following agreed upon valuations for noncash assets. Date Accourt Tities and Explanation- aset. 1 (Trander of Sormam's awets and fotities) Jan. 1 (Transfer of Lucas' assets and liabilities.) Further, it is agreed that Sorensen will invest an additional $4,000 in cash, and Lucas will invest an additionai $15,200 in cash. Journalize the additional cash irvestment by each partne Do not indent manually, Prepare a classified balance sheet for the partnership on January 1, 2022. (List Current Assets in order of liquidity) IVANHOE COMPANY Balance Sheet January 1, 2022 Assets Current Assets Cash Accounts Recelvable $35000 Inventory Total Current Assets Equipment Total Assets Liabilities and Owners' Equity Current Liabilities Accounts Payable $ Owners' Equity Sorensen, Capital Lucas, Capleal Total Owners' Equity Total Llabilities and Owners' Equity
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