1. C. Calculate the cash distribution to Jacob after settling liabilities, assuming no other transactions take place:

On July 1, 20x8, Drake made an original contribution of a vehicle, accounts receivable, and $45,000 cash to a partnership. The vehicle had a book value of $14,000 and a market value of $12,450. The receivables had a balance of $8,500 with an associated allowance of $700, which the partners agree is a fair valuation. The partnership also assumed accounts payable in the amount of $1,000 from Drake. Provide the journal entry for Jakobi's contribution to the partnership Nick has been running a sole proprietorship but is now forming a new partnership with CJ. After adjusting assets to fair value, Nick has a capital balance of $23,000. Cl contributes $15,000 to receive a 40% interest in the partnership. Calculate the amount and recipient of the bonus: After closing the books and prior to liquidating their partnership, Dan and Trista have $14,000 and $6,700 of capital, respectively. Prior to liquidation, the partnership had no cash and had $700 of liabilities. The other, non-cash assets were sold for $8,000. The partners share income equally. Calculate the balance of assets prior to realization (selling the assets): a. b. Calculate Jacob and Dario's capital balances after the assets are sold: On July 1, 20x8, Drake made an original contribution of a vehicle, accounts receivable, and $45,000 cash to a partnership. The vehicle had a book value of $14,000 and a market value of $12,450. The receivables had a balance of $8,500 with an associated allowance of $700, which the partners agree is a fair valuation. The partnership also assumed accounts payable in the amount of $1,000 from Drake. Provide the journal entry for Jakobi's contribution to the partnership Nick has been running a sole proprietorship but is now forming a new partnership with CJ. After adjusting assets to fair value, Nick has a capital balance of $23,000. Cl contributes $15,000 to receive a 40% interest in the partnership. Calculate the amount and recipient of the bonus: After closing the books and prior to liquidating their partnership, Dan and Trista have $14,000 and $6,700 of capital, respectively. Prior to liquidation, the partnership had no cash and had $700 of liabilities. The other, non-cash assets were sold for $8,000. The partners share income equally. Calculate the balance of assets prior to realization (selling the assets): a. b. Calculate Jacob and Dario's capital balances after the assets are sold