Luke, Lando and Leia decide to start a partnership called LLL Consulting on January 1, 2023. Each of them contribute a number of items to the partnership, which are listed below. Luke contributed $6,700 cash and a building he had purchased for $239,000. The building now has a market value of $262.900. Lando contributed $3,100 cash, equipment he had purchased for $32,300 and a note payable worth $23,000. The equipment has a market value of $29,070. Leia contributed $7,500 cash, furniture she has purchased for $11,900 and accounts payable worth $6,600. The furniture has a market value of $9,520. Prepare the journal entries to record the contributions of each partner. Do not enter dollar signs or commas in the input boxes. For transactions with more than one debit or credit, enter the accounts in alphabetical order. Date Account Title and Explanation Jan 1 Jan 1 Jan 1 Investment by Luke Investment by Lando Investment by Leia • • Debit Credit

Shawna Kearn and Todd White are forming a partnership to develop a theme park near Bay City, Florida. Kearn contributes cash of $1,000,000 and land with a current market value of $13,500,000. When Kearn purchased the land in 2013, its cost was $7,500,000. The partnership will assume Kearn's $3,000,000 note payable on the land. White contributes cash of $3,000,000 and equipment with a current market value of Requirements 1. Journalize the partnership's receipt of assets and liabilities from Kearn and from White. 2. Compute the partnership's total assets, total liabilities, and total partners' equity immediately after organizing.

Steve Reese is a well-known interior designer in Fort Worth, Texas. He wants to start his own business and convinces Rob O’Donnell, a local merchant, to contribute the capital to form a partnership. On January 1, 2019, O’Donnell invests a building worth $74,000 and equipment valued at $44,000 as well as $32,000 in cash. Although Reese makes no tangible contribution to the partnership, he will operate the business and be an equal partner in the beginning capital balances.  To entice O’Donnell to join this partnership, Reese draws up the following profit and loss agreement: O’Donnell will be credited annually with interest equal to 10 percent of the beginning capital balance for the year.O’Donnell will also have added to his capital account 10 percent of partnership income each year (without regard for the preceding interest figure) or $6,000, whichever is larger. All remaining income is credited to Reese.Neither partner is allowed to withdraw funds from the partnership during 2019.…

Manji

Can you make a solution for these? The right answer for Rod and Sol is 420,000. Thanks!

Dewwy, Screwum, and Howe are forming a partnership. Dewwy is transferring $93,000 of personal cash to the partnership. Screwum owns land worth $27,000 and a small building worth $205,000, which she transfers to the partnership. Howe transfers to the partnership cash of $19,000, accounts receivable of $47,700 and equipment worth $35,000. The partnership expects to collect $45,000 of the accounts receivable. Cash 93000   Dewwy Capital   93000 Equipment 27000   Building 205000   Screwum Capital   232000 Cash 19000   Accounts Recievable 47700   Equipment 35000   Doubtful   2700 Howe Capital   99000 What amount would be reported as total owners’ equity immediately after the investments?  I would have expected $99,000 since this was agreed upon.  What did I miss in the reading?