Question: Exercise 12-02 a-b (Video) K. Decker, S. Rosen, and E. Toso are forming a partnership Decker is transferring $52,200 of personal cash to the partnership.


Exercise 12-02 a-b (Video) K. Decker, S. Rosen, and E. Toso are forming a partnership Decker is transferring $52,200 of personal cash to the partnership. Rosen owns land worth $15,600 and receivable of $29,400, and equipment worth $19,500. The partnership expects to collect $26,460 of the accounts receivable. Your answer is partially correct. Try again. Prepare the journal entries to record each of the partners' investments. (Credit account titles are automatically indented when amount is entered. Do not i Account Titles and Explanation Debit Credit Cash 52200 (To record investment of Decker.) Buildings 81000 Land 15600 EX (To record investment of Rosen.) Decker, Drawings 10900 Accounts Receivable 2940 Equipment 19500 X 26460 Accounts Receivable N (To record investment of Toso.) VIDEO SIMILAR EXERCISE LINK TO TEXT CALCULATOR PRINTER VERSION rsonal cash to the partnership. Rosen ons land worth $15,600 and a small building worth $81,000, which she transfers to the partnership. Toso transfers to the partnership cash of $10,900, accounts of the accounts receivable. are automatically indented when amount is entered. Do not indent manually.) VIDEO: SIMILAR EXERCISE 9:00 AM 7/21/2020 Accounts Receivable 2940 Equipment 19500 X Accounts Receivable 26460 (To record investment of Toso.) LINK TO TEXT x Your answer is incorrect. Try again. What amount would be reported as total owners' equity immediately after the investments? x Total owners' equity Click if you would like to Show Work for this question: Open Show Work LINK TO TEXT VII
Step by Step Solution
There are 3 Steps involved in it
Get step-by-step solutions from verified subject matter experts
