Question: Task 2 . 1 : L . Ong owns a boat rental business with $ 3 3 0 0 0 in cash and boats with
"Task : L Ong owns a boat rental business with $ in cash and boats with a book value of
$ She decides to enter a partnership with B Cooper, who has only $ cash but also owns lakefront docks and land with a book value of $ After some friendly negotiations, they agree that the fair market value of the boats is $; the docks have a fair market value of $ and the land has a fair market value of $ Record the general journal entry to establish the partnership on July "Task : On August Joan Taylor and Tom Maid are partners in The Taylor Maid Company. They have capital balances of $ and $ respectively, and have an income ratio of and Record journal entries for each of the independent situations below about the admission of a new partner:
a Jim Zucher agrees to purchase half of Taylor's equity for $
b Barry Thompson agrees to purchase all of Maid's equity for $
c Gary Malley invests $ cash and equipment with a fair market value of $ in the business." Task : Mann, Haney and Young are partners. Haney, who has a capital balance of $ has decided to retire. On February Mann offers Haney $ for his equity, and Haney accepts. Record the entry to record Haney's departure. "Task : Orr, Hamilton and Talbot are partners with capital balances of $ $ and $ respectively. They have an income ratio of :: On October Orr decides to leave the partnership. Show the entry to record Orr's departure under the following assumptions:
a Hamilton and Talbot each pay $ of their personal funds to Orr and receive of his equity.
b Talbot pays $ for all of Orr's equity." can you please help im getting diffeent answers from chegg
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