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Accounting 26th Edition by Carl Warren,James Reeve,Jonathan Duchac
Edition 26ISBN: 978-1285743615Accounting 26th Edition by Carl Warren,James Reeve,Jonathan Duchac
Edition 26ISBN: 978-1285743615 Exercise 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.
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.
Explanation
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To journalize the partnership's entry fo...
Accounting 26th Edition by Carl Warren,James Reeve,Jonathan Duchac
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