Question
Capital Contributions of a partnership are as follows: Partner Contribution Description Agreed Value James Cross Cash $15,000 $15,000 AUD Leona Riley Cash $10,000 Computer equipment
Capital Contributions of a partnership are as follows: Partner Contribution Description Agreed Value James Cross Cash $15,000 $15,000 AUD Leona Riley Cash $10,000 Computer equipment $5,000 $15,000 AUD Brady Chan Cash $15,000 $15,000 AUD
I need to prepare the journal entries to record the capital contributed by the partners. I need to have 3 separate journals to account for each of the contributions from the partners.
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Survey of Accounting
Authors: Thomas P. Edmonds, Frances M. McNair, Philip R. Olds, Bor Yi
3rd Edition
978-1259683794, 77490835, 1259683796, 9780077490836, 978-0078110856
