Question
Kelly Green and Rose Violet form a partnership. Kelly contributes $130,000 cash and Rose contributes equipment worth $20,000 and a building worth $150,000. The building
Kelly Green and Rose Violet form a partnership. Kelly contributes $130,000 cash and Rose contributes equipment worth $20,000 and a building worth $150,000. The building has a mortgage of $70,000 that will now be paid by the partnership. Write the required journal entries for each partners investment.
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Accounting For Non-Accountants
Authors: David Horner
10th Edition
0749472812, 978-0749472818
