A) prepare separate journal entries to record the transfer of each proprietorship's assets and Liabilities to the partnership.

B) Journalize the additional cash investment by each partner.

C) Prepare a classified balance sheet for the partnership on January 1, 2019.

P12-1A The post-closing trial balances of two proprietorships on January 1, 2019, and its valuations of noncash assets. Molly Company Warm Company DE Cr Fair Value Molly Company Yummi Company Dr Cr Cash 14.000 12,000 17,500 26,000 17,500 26,000 3.000 4.400 4,500 28.000 26,500 45,000 18.400 29.000 4,000 20,000 15.000 25,000 Accounts receivable Allowances for doubtful accounts Inventory Equipment Accumulated depreciation Notes payable Accounts payable Molly, Capital Yummi, capital 11,000 24.000 18,000 15,000 31.000 22,000 36,000 24,000 104,000 103.000 85,400 85.400 All cash will be transferred to the partnership, and the partnership will assume all the linbilities of the two proprietorship Further, it is agreed that Molly will invest an additional $5,000 in cash, and Yummi will invest an additional $19.000 in casti Instructions