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Can you post this in excel?Prepare entries for formation of a partnership and a balance sheet Sorensen Company Lucas company Dr Cr Dr Cr Cash

Can you post this in excel?Prepare entries for formation of a partnership and a balance sheet

Sorensen Company Lucas company
Dr Cr Dr Cr
Cash $ 14,000 $ 12,000
Accounts Receivable $ 17,500 $ 26,000
Allowance for doubtful accounts $ 3,000
Inventory $ 26,500 $ 4,400
Equipment $ 45,000 $ 18,400
Accumulated Depreciation-equipment $ 24,000 $ 29,000
Notes payable $ 18,000 $ 11,000
Accounts payable $ 22,000 $ 15,000
Sorensen, Capital $ 36,000 $ 31,000
Lucas, Capital $ 24,000
$ 103,000 $ 103,000 $ 85,400 $ 85,400
Sorensen and lucas decide to form a partnership, solu company, with the following agreed upon valuations for non cash assets
Sorensen Company Lucas company
Accounts Receivable $17,500 $26,000
Allowance for doubtful accounts $4,500 $4,000
Inventory $28,000 $20,000
Equipment $25,000 $15,000
All cash will be transferred to the partnership, and the partnership will assume all the liabilities of the two proprietorships,.Further, it is agreed that Sorensen will invest an additional $5000.00 in cash, and Lucas will invest an additional $19,0000 in cash.
a. Prepare separate journal entries to record the transfer of each proprietorships 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, 2022

a. Prepare separate journal entries to record the transfer of each proprietorships 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, 2022

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