Question
Moss and Barber organize a partnership on January 1. Moss's initial net investment is $86,000, consisting of cash ($20,000), equipment ($81,000), and a note payable
Moss and Barber organize a partnership on January 1. Moss's initial net investment is $86,000, consisting of cash ($20,000), equipment ($81,000), and a note payable reflecting a bank loan for the new business ($15,000). Barber's initial investment is cash of $39,000.
Prepare journal entries to record (1) Mosss investment and (2) Barbers investment.
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Just In Time Accounting How To Decrease Costs And Increase Efficiency
Authors: Steven M. Bragg
3rd Edition
0470403721, 978-0470403723
