Question: Set up sam jim Question 1 and set up a new partnership both partners invest the following assets sam jim Book Market Book Market value

 Set up sam jim Question 1 and set up a new

Set up sam jim Question 1 and set up a new partnership both partners invest the following assets sam jim Book Market Book Market value value value value cash 20,000 50,000 equipment 15, 000 8,000 15, 000 7,000 acc dep -3, 000 -11,000 vehicle 35,000 14,000 acc. Dep vehicle -22, 000 building 75,000 80,000 ea a) create the appropriate journal entry to establish the partnership Date Description DR CR

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