1 of 12 (2 complete Sabine King and Todd White are forming a partnership to develop a craft beer brewing company King contributes cash of $300,000 and land appraised at $90,000 with a bude was $230,000 The partnership will assume King's morgtage on the property in the amount of 125,000. White contributes cash of $500,000 and equipment with a content mar Required 1. Joumalize the partnership's receipt of assets and liabilities on October 15. Record this as a compound journal entry for both partners 2. Compute the partnership's total assets total liabilities, and total partners' equity immediately after organizing Requirement 1. Joumalize the partnership's receipt of assets and liabilities on October 15. Record this as a compound journal arty for both partners Record the partnership's receipt of assets and liabilities on October 15 (Record debits first, then credits. Explanations will appear on the last line of the journal entry tat Date Accounts and Explanation Debit Credit Oct 15 Requirement 2. Compute the partnership's total assets total liabilities and total partners equity immediately after organizing King and White Balance Shoot ONLY 120 mins permitted 1 of 12 (2 complete) Question theorbruwing company King contributes cash of $300.000 and land appraised at 590 000 with a building which has a current market value of $170,000 When King purchased the wind in 2016 Brty in the amount of $125,000 White contributes cash of $500,000 and equipment with a current market value of $50,000 15 Record this as a compound journal entry for both 1 Equity immediately after organizing on October 15 Record this as a compound journal entry for both partners Record debits first, then credits. Explanations will appear on the last line of the journal entry table> Debit Credit and all parts culty immediately after organizing 2. Compute the partnership's total assets, total liabilities, and total partners' equity immediately after organizing Requirement 2. Compute the partnership's total assets, total liabilities, and total partners' equity immediately after organizing King and White Balance Sheet October 15 Assets Liabilities Cash Building Equipment Mortgage Payable Partners' Equity King. Capital White, Capital Total Partners' Equity Total Total Liabilities and Partners' Equity Choose from any list of enter any number in the input fields and then continue to the next question Type here to search o Sabine King and Todd White are forming a partnership to develop a craft beer brewing company King contributes cash of $300,000 and land appraised at $90,000 with a building was $230,000 The partnership will assume King's morgtage on the property in the amount of 5125 000 White contributes cash of $500,000 and equipment with a cutent market Required 1. Journalize the partnership's receipt of assets and liabilities on October 15. Record this as a compound journal entry for both partners 2. Compute the partnership's total assets, total liabilities, and total partners' equily immediately after organizing Requirement 1. Joumalize the partnership's receipt of assets and liabilities on October 15 Record this as a compound journal entry for both partners Record the partnerships receipt of assets and abilities on October 15 (Record debits first, then credits. Explanations will appear on the last line of the journal entry table. Dat Accounts and Explanation Debit Credit Oct 15 Requirement 2. Compute the partnership's total assets total abilities, and total partners equity immediately after organizing King and White Balance Sheet ht Choose nom a list or enterany number in the input fields and more contre to the next