Raúl and Rigoberto decide to form a partnership combining the assets of their own businesses. Raúl contributes with the following assets: Cash $ 20,000 Accounts receivable 170,000 Allow For doubtful account -10,500 Inventory 150,000 Equipment (cost) 200,000 Accumm Depreciation -155,000 The partners agreed: -Do not accept $ 5,000 from accounts receivable as they have no value (“worthless”). -That $ 12,500 is a reasonable provision (‘allowance”) for uncollectible accounts. -That the inventory must be recorded at its current market value of $ 122,000. -That the equipment should be valued at $ 63,500. Required: Record the journal entry for Raúl's investment.

Ana, Bea, and Cara are partners sharing profits and losses in the ratio of 1:1:2, respectively. They decided to liquidate the business. The assets were sold and liabilities amounting to $20,000 were paid. At this point, the capital balances of the partners are as follows: Ana $20,000 credit Bea 15,000 debit Cara 30,000 credit Bea is personally insolvent. 1. How much cash is available for distribution to partners? 2. How much cash is received by Ana and Cara?

Mohammad, Ahmed, and Mahmmod formed a partnership with income-sharing ratios of 50%, 30%, and 20%, respectively. Cash of 300,000 was available after the partnership's assets were liquidated. Prior to the final distribution of cash, Mohammad's capital balance was 200,000, Ahmed's capital balance was 150,000, and Mahmood's had a capital deficiency of 50,000. Assuming Mahmmod was unable to contributes cash to match his capital deficiency, Mohammad should recelve 200,000 a 168.750 bO 131,250 -C O 175,000 d O

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…