Question: Help Save & E Bloom and Plant organize a partnership on January 1. Bloom's initial investment consists of $800 cash $1700 equipment and a $s00

Help Save & E Bloom and Plant organize a partnership on January 1. Bloom's initial investment consists of $800 cash $1700 equipment and a $s00 note payable reflecting a bank loan for the new business. Plant's initial investment is cash of $2.000. These amounts are the values journal entry to record Bloom's investment is agreed on by both partners. The Multiple Choice Debit Cash $800,debit Equipment $1700, cvedit None Payoble $500, credit Boom Ceptal $2000 Debit Cash $2.000 cnedin Bloom, Cepital $2.000 Debit Cash $800.debit Equipment $1.700credit oom Capal $2.500 Debl Cash 800, debit Equipment $1.200 credit Bloom Capital $2.000 Debt Bloom Capita $3,000cre Common sck MacBook Air 0

Step by Step Solution

There are 3 Steps involved in it

1 Expert Approved Answer

Step: 1 Unlock blur-text-image

Question Has Been Solved by an Expert!

Get step-by-step solutions from verified subject matter experts

Step: 2 Unlock

Step: 3 Unlock

Students Have Also Explored These Related Accounting Questions!

How would the companys cash needs change for the company in Examples 14-1 to 14-5 if they subcontracted out $25,000 of labor per month for $26,000 per month on the first project for the months of...

Wright, Bell, and Edison are partners and share income in a 2:5:3 ratio (in ratio form: Wright, 2/10; Bell, 5/10; Edison, 3/10). The partnership's capital balances are as follows: Wright, $33,000,...

1/ Design Services is organized as a limited partnership, with Miko Toori as one of its partners. Miko's capital account began the year with a balance of $47,000. During the year, Miko's share of the...

1/ Bloom and Plant organize a partnership on January 1. Bloom's initial investment consists of $800 cash, $2,300 equipment and a $400 note payable reflecting a bank loan for the new business. Plant's...

Bloom and Plant organize a partnership on January 1. Bloom's initial investment consists of $800 cash, $2.500 equipment and a $700 note payable reflecting a bank loan for the new business Plant's...

why it's wrong? Bloom and Plant organize a partnership on January 1, Bloom's initial investment consists of $1,200 cash, $2,500 equipment and a $800 note payable reflecting a bank loan for the new...

Bloom and Plan organize a partnership on January 1. Bloom's initial investment consists of $800 cash, $1,700 equipment, and a $500 note payable reflecting a bank loan for the new business. Plants'...

Fundamental Accounting practice questions Maxwell and Smart are forming a partnership. Maxwell is investing a building that has a market value of $92,000. However, the building carries a $44,000...

Bloom and Plant organize a partnership on January 1. Bloom's initial investment consists of $1,000 cash, $3,200 equipment and a $800 note payable reflecting a bank loan for the new business. Plant's...

1/ Bloom and Plant organize a partnership on January 1. Bloom's initial investment consists of $300 cash, $1,200 equipment and a $550 note payable reflecting a bank loan for the new business. Plant's...

9 (1 point) Bloom and Plant organize a partnership on January 1. Bloom's initial investment consists of $450 cash, $1,800 equipment and a $1,500 note payable reflecting a bank loan for the new...

Describe the provisions concerning leases involving real estate.

Using known reactions and mechanisms discussed in the text, complete the reactions given in Fig. P19.46 on p. 942. Fig. P19.46 NaBH4 CH OH

Determine las difracciones posibles de una estructura de cloruro de sodio.

Hypothesis Testing of a Single Mean LCTCS Tuition: Louisiana Community And Technical College System consist of 2 community colleges across the state. I think RPCC's tuition and fees is lower than the...

2. You have to evaluate an employee who has been late frequently. A. We have guidelines around here, you know. B. I need you to try harder to be on time. C. I want you to be here at 8:55 each morning.

What kinds of slang or jargon do you regularly use? How did you become familiar with these terms? And how would you go about explaining these terms to someone who is unfamiliar with them?

B What kinds of technical words and phrases have become part of your everyday language? Have you ever Googled anyone? Would you think it odd if you had to explain the meaning of the verb Google to...