Journal entries to record each of the partners investments

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K. Decker, S. Rosen, and E. Toso are forming a partnership. Decker is transferring $47,870 of personal cash to the partnership. Rosen owns land worth $14,400 and a small building worth $82,790, which she transfers to the partnership. Toso transfers to the partnership cash of $11,010, accounts receivable of $30,960 and equipment worth $18,920. The partnership expects to collect $27,864 of the accounts receivable.

Prepare the journal entries to record each of the partners’ investments. (Credit account titles are automatically indented when amount is entered. Do not indent manually.)

Reference no: EM131219374

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Journal entries to record each of the partners investments : K. Decker, S. Rosen, and E. Toso are forming a partnership. Decker is transferring $47,870 of personal cash to the partnership. Rosen owns land worth $14,400 and a small building worth $82,790, which she transfers to the partnership. Prepare the jour..

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