{ "key_pair_value_system": true, "answer_rating_count": "", "question_feedback_html": { "html_star": "", "html_star_feedback": "" }, "answer_average_rating_value": "", "answer_date_js": "2024-05-26T06:08:31-04:00", "answer_date": "2024-05-26 06:08:31", "is_docs_available": "", "is_excel_available": "", "is_pdf_available": "", "count_file_available": 0, "main_page": "student_question_view", "question_id": "1724165", "url": "\/study-help\/questions\/entries-and-balance-sheet-for-partnership-on-april-1-20y1-1724165", "question_creation_date_js": "2024-05-26T06:08:31-04:00", "question_creation_date": "May 26, 2024 06:08 AM", "meta_title": "[Solved] Entries and Balance Sheet for Partnership | SolutionInn", "meta_description": "Answer of - Entries and Balance Sheet for Partnership On April 1, 20Y1, Whitney Lang and Eli Capri form a partnership. Lang agrees | SolutionInn", "meta_keywords": "entries,balance,sheet,partnership,april,1,20y1,whitney,lang,eli,capri,form", "question_title_h1": " Entries and Balance Sheet for Partnership On April 1, 20Y1, Whitney Lang and Eli Capri form a partnership. Lang agrees to invest $16,100 cash", "question_title": " Entries and Balance Sheet for Partnership On April 1, 20Y1, Whitney", "question_title_for_js_snippet": "Entries and Balance Sheet for Partnership On April 1, 20Y1, Whitney Lang and Eli Capri form a partnership Lang agrees to invest $16,100 cash and merchandise inventory valued at $43,500 Capri invests certain business assets at valuations agreed upon, transfers bu regarding the book values of the business assets and liabilities, and the agreed valuations, follow Capri's Ledger Agreed Upon Balance Balance Accounts Receivable $24,600 $19,900 Allowance for Doubtful Accounts 1,100 1,400 Merchandise Inventory 28,700 38,500 Equipment 48,300 46,900 Accumulated Depreciation Equipment 16,100 Accounts Payable 8,700 8,700 Notes Payable (current) 5,300 5,300 The partnership agreement includes the following provisions regarding the division of net income interest of 10 on original investments, salary allowances of $48,300 (Lang) and $29,500 (Capri), and the remainder equally ", "question_description": "\"image\"image\"image", "transcribed_text": "Entries and Balance Sheet for Partnership On April 1, 20Y1, Whitney Lang and Eli Capri form a partnership. Lang agrees to invest $16,100 cash and merchandise inventory valued at $43,500. Capri invests certain business assets at valuations agreed upon, transfers bu regarding the book values of the business assets and liabilities, and the agreed valuations, follow: Capri's Ledger Agreed-Upon Balance Balance Accounts Receivable $24,600 $19,900 Allowance for Doubtful Accounts 1,100 1,400 Merchandise Inventory 28,700 38,500 Equipment 48,300 46,900 Accumulated Depreciation-Equipment 16,100 Accounts Payable 8,700 8,700 Notes Payable (current) 5,300 5,300 The partnership agreement includes the following provisions regarding the division of net income: interest of 10% on original investments, salary allowances of $48,300 (Lang) and $29,500 (Capri), and the remainder equally.", "related_book": { "title": "Cost Accounting A Managerial Emphasis", "isbn": "978-0133428858, 133428850, 133428702, 978-0133428704", "edition": "15th edition", "authors": "Charles T. Horngren, Srikant M. Datar, Madhav V. Rajan", "cover_image": "https:\/\/dsd5zvtm8ll6.cloudfront.net\/si.question.images\/book_images\/301.jpg", "uri": "\/textbooks\/cost-accounting-a-managerial-emphasis-15th-edition-301", "see_more_uri": "" }, "free_related_book": { "isbn": "B073X38V13", "uri": "\/textbooks\/all-naturals-soap-bar-for-men-for-hand-face-and-body-b073x38v13-96197", "name": "All Naturals Soap Bar For Men For Hand Face And Body", "edition": "" }, "question_posted": "2024-05-26 06:08:31", "see_more_questions_link": "\/study-help\/questions\/business-human-resource-management-2020-May-22", "step_by_step_answer": "The Answer is in the image, click to view ...", "students_also_viewed": [ { "url": "\/study-help\/questions\/obias-is-a-foreman-at-a-factory-that-manufactures-auto-489766", "description": "obias is a foreman at a factory that manufactures auto parts. 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