Journalize the entries in the partnership accounts for (a) Barton's investment and (b) Fallows's investment. If an amount box does not require an entry, leave it blank.
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- Barton and Fallows form a partnership by combining the assets of their separate businesses. Barton contributes accounts receivable with a face amount of $48,000 and equipment with a cost of $72,000 and accumulated depreciation of $46,500. The partners agree that the equipment is to be priced at $37,500, that $4,400 of the accounts receivable are completely worthless and are not to be accepted by the partnership, and that $2,800 is a reasonable allowance for the uncollectibility of the remaining accounts receivable. Fallows contributes cash of $27,500 and merchandise inventory of $58,000. The partners agree that the merchandise inventory is to be priced at $47,000. Journalize the entries to record in the partnership accounts (a) Barton's investment and (b) Fallows' investment. For the toolbar, press ALT+F10 (PC) or ALT+FN+F10 (Mac). BI U S Paragraph Arial 10pt :3 Ev A A Ix Q 3 d ... 흥공 EE X² X₂ ள ள + ABC ✓ ✓ ¶T 8. 門国 图 † {} © Ⓒ 5* + 99 Ω Ⓒ 田く Table A AJesse and Tim form a partnership by combining the assets of their separate businesses. Jesse contributes accounts receivable with a face amount of $46,000 and equipment with a cost of $181,000 and accumulated depreciation of $105,000. The partners agree that the equipment is to be valued at $67,900, that $3,000 of the accounts receivable are completely worthless and are not to be accepted by the partnership, and that $2,200 is a reasonable allowance for the uncollectibility of the remaining accounts receivable. Tim contributes cash of $21,500 and merchandise inventory of $45,000. The partners agree that the merchandise inventory is to be valued at $48,500. Journalize the entries to record in the partnership accounts (a) Jesse's investment and (b) Tim's investment. If an amount box does not require an entry,Barton and Fallows form a partnership by combining the assets of their separate businesses. Barton contributes accounts receivable with a face amount of $47,000 and equipment with a cost of $193,000 and accumulated depreciation of $101,000. The partners agree that the equipment is to be valued at $86,000, that $3,700 of the accounts receivable are completely worthless and are not to be accepted by the partnership, and that $1,400 is a reasonable allowance for the uncollectibility of the remaining accounts receivable. Fallows contributes cash of $28,300 and merchandise inventory of $56,000. The partners agree that the merchandise inventory is to be valued at $60,500. Journalize the entries to record in the partnership accounts (a) Barton's investment and (b) Fallows's investment. If an amount box does not require an entry, leave it blank. (a) fill in the blank 2 fill in the blank 3 fill in the blank 5 fill in the blank 6 fill in the blank 8 fill in the blank 9…
- Jesse and Tim form a partnership by combining the assets of their separate businesses. Jesse contributes accounts receivable with a face amount of $50,000 and equipment with a cost of $180,000 and accumulated depreciation of $100,000. The partners agree that the equipment is to be valued at $58,000, that $3,500 of the accounts receivable are completely worthless and are not to be accepted by the partnership, and that $2,000 is a reasonable allowance for the uncollectibility of the remaining accounts receivable. Tim contributes cash of $21,000 and merchandise inventory of $44,500. The partners agree that the merchandise inventory is to be valued at $48,000. Required: Journalize the entries to record in the partnership accounts (a) Jesse’s investment and (b) Tim’s investment. Refer to the Chart of Accounts for exact wording of account titles.Jesse and Tim form a partnership by combining the assets of their separate businesses. Jesse contributes accounts receivable with a face amount of $50,000 and equipment with a cost of $185,000 and accumulated depreciation of $101,000. The partners agree that the equipment is to be valued at $67,800, that $4,000 of the accounts receivable are completely worthless and are not to be accepted by the partnership, and that $1,800 is a reasonable allowance for the uncollectibility of the remaining accounts receivable. Tim contributes cash of $21,500 and merchandise inventory of $45,000. The partners agree that the merchandise inventory is to be valued at $48,500. Journalize the entries in the partnership accounts for (a) Jesse's investment and (b) Tim's investment. If an amount box does not require an entry, leave it blank. a. b.Jesse and Tim form a partnership by combining the assets of their separate businesses. Jesse contributes accounts receivable with a face amount of $49,000 and equipment with a cost of $181,000 and accumulated depreciation of $98,000. The partners agree that the equipment is to be valued at $67,500, that $3,000 of the accounts receivable are completely worthless and are not to be accepted by the partnership, and that $1,700 is a reasonable allowance for the uncollectibility of the remaining accounts receivable. Tim contributes cash of $21,000 and inventory of $45,000. The partners agree that the inventory is to be valued at $48,500. Journalize the entries in the partnership accounts for (a) Jesse's investment and (b) Tim's investment. If an amount box does not require an entry, leave it blank. a. b.
- to eBook TOT akeAssignment/takeAssignmentMain.do?invoker=&takeAssignmentSession Locator=&inprogress=false Jesse and Tim form a partnership by combining the assets of their separate businesses. Jesse contributes accounts receivable with a face amount of $49,000 and equipment with a cost of $175,000 and accumulated depreciation of $97,000. The partners agree that the equipment is to be valued at $68,200, that $3,400 of the accounts receivable are completely worthless and are not to be accepted by the partnership, and that $2,500 is a reasonable allowance for the uncollectibility of the remaining accounts receivable. Tim contributes cash of $21,000 and merchandise inventory of $45,000. The partners agree that the merchandise inventory is to be valued at $48,500. Journalize the entries in the partnership accounts for (a) Jesse's investment and (b) Tim's investment. If an amount box does not require an entry, leave it blank. a. b. Allowance for Doubtful Accounts Cash Paused Equipment Tim,…Jesse and Tim form a partnership by combining the assets of their separate businesses. Jesse contributes accounts receivable with a face amount of $50,000 and equipment with a cost of $177,000 and accumulated depreciation of $102,000. The partners agree that the equipment is to be valued at $67,800, that $3,000 of the accounts receivable are completely worthless and are not to be accepted by the partnership, and that $2,200 is a reasonable allowance for the uncollectibility of the remaining accounts receivable. Tim contributes cash of $21,500 and merchandise inventory of $45,000. The partners agree that the merchandise inventory is to be valued at $48,500. Journalize the entries to record in the partnership accounts (a) Jesse's investment and (b) Tim's investment. If an amount box does not require an entry, leave it blank. accounts receivable/allowance for doubtful accounts/cash/jesse,capital/jesse, drawing/equipment/tim, capital/tim,drawing/merchandise inventory (a)…Jesse and Tim form a partnership by combining the assets of their separate businesses. Jesse contributes accounts receivable with a face amount of $49,000 and equipment with a cost of $183,000 and accumulated depreciation of $103,000. The partners agree that the equipment is to be valued at $67,600, that $3,200 of the accounts receivable are completely worthless and are not to be accepted by the partnership, and that $2,500 is a reasonable allowance for the uncollectibility of the remaining accounts receivable. Tim contributes cash of $20,000 and merchandise inventory of $45,000. The partners agree that the merchandise inventory is to be valued at $48,500. Journalize the entries in the partnership accounts for (a) Jesse’s investment and (b) Tim’s investment. If an amount box does not require an entry, leave it blank. a. - Select - - Select - - Select - - Select - - Select - - Select - - Select - - Select - b. - Select - - Select - -…
- Kimberly Payne and Arionna Maples decide to form a partnership by combining the assets of their separate businesses. Payne contributes the following assets to the partnership: cash, $20,000; accounts receivable with a face amount of $145,000 and an allowance for doubtful accounts of $4,200; merchandise inventory with a cost of $92,000; and equipment with a cost of $136,000 and accumulated depreciation of $45,000. The partners agree that $5,000 of the accounts receivable are completely worthless and are not to be accepted by the partnership, that $4,400 is a reasonable allowance for the uncollectibility of the remaining accounts, that the merchandise inventory is to be recorded at the current market price of $101,700, and that the equipment is to be valued at $81,200. Journalize the partnership's entry to record Payne's investment.Kimberly Payne and Arionna Maples decide to form a partnership by combining the assets of their separate businesses. Payne contributes the following assets to the partnership: cash, $20,000; accounts receivable with a face amount of $145,000 and an allowance for doubtful accounts of $4,200; merchandise inventory with a cost of $92,000; and equipment with a cost of $136,000 and accumulated depreciation of $45,000.The partners agree that $5,000 of the accounts receivable are completely worthless and are not to be accepted by the partnership, that $4,400 is a reasonable allowance for the uncollectibility of the remaining accounts, that the merchandise inventory is to be recorded at the current market price of $101,700, and that the equipment is to be valued at $81,200.Journalize the partnership’s entry to record Payne’s investment.Kimberly Payne and Arionna Maples decide to form a partnership by combining the assets of their separate businesses. Payne contributes the following assets to the partnership: cash, $25,230; accounts receivable with a face amount of $150,960 and an allowance for doubtful accounts of $3,970; merchandise inventory with a cost of $89,120; and equipment with a cost of $138,820 and accumulated depreciation of $41,460. The partners agree that $5,620 of the accounts receivable are completely worthless and are not to be accepted by the partnership, that $5,240 is a reasonable allowance for the uncollectibility of the remaining accounts, that the merchandise inventory is to be recorded at the current market price of $103,020, and that the equipment is to be valued at $91,740. On December 1, journalize the partnership’s entry to record Payne’s investment. Refer to the Chart of Accounts for exact wording of account titles.