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K . Decker, S . Rosen, and E . Toso are forming a partnership. Decker is transferring $ 5 0 , 0 0 0 of

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 $11,000 and a small building worth $83,400, which she transfers to the partnership. Toso transfers to the
partnership cash of $10,200, accounts receivable of $35,300, and equipment worth $21,900. The partnership expects to collect
$31,770 of the accounts receivable.
(a)
Your answer is correct.
Prepare the joumal entries to record each of the partners' investments. (Credit account titles are automatically indented when
amount is entered. Do not indent manually.)
Account Titles and Explanation
Debit
Credit
Cash
Decker, Capltal
(To record investment of Decker.)
Land
Bulldings
Rosen, Capltal
(To record investment of Rosen.)
Cash
Accounts Recelvable
Equlpment
Allowance for Doubtful Accounts
Toso, Capltal
(To record investment of Toso.)
eTextbook and Media
(b)
What amount would be reported as total owners' equity immediately after the imvestments?
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