Accounting 26th Edition by Carl Warren,James Reeve,Jonathan Duchac

تمرين 54

Recording partner's original investment
Melissa Myers and Hugo Hernandez form a partnership by combining assets of their former businesses. The following balance sheet information is provided by Myers, sole proprietorship:

Myers obtained appraised values for the land and equipment as follows:

An analysis of the accounts receivable indicated that the allowance for doubtful accounts should be increased to $9,200.
Journalize the partnership's entry for Myers' investment.