E12-2 K. Decker, S. Rosen, and E. Toso are forming a partnership. Decker is transferring $50,000 of personal cash to the partnership. Rosen owns land worth $15,000 and a small building worth $80,000, which she transfers to the partnership. Toso transfers to the part- nership cash of $9,000, accounts receivable of $32,000, and equipment worth $39,000. The partnership expects to collect $29,000 of the accounts receivable.

Instructions

(a) Prepare the journal entries to record each of the partners' investments.

(b) Whatamountwouldbereportedastotalowners'equityimmediatelyaftertheinvestments?