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On April 1, 2019, Guy Comeau and Amelie Lavoi formed a partnership in Ontario. Contribution Profit sharing Comeau Lavoi $295,000 cash $182,000 land 5138,000 building
On April 1, 2019, Guy Comeau and Amelie Lavoi formed a partnership in Ontario. Contribution Profit sharing Comeau Lavoi $295,000 cash $182,000 land 5138,000 building $178,100 salary allowance 56 of original 51 of original capital investments capital investments 401 of remaining 60% of remaining $123.900 Cash withdrawal March 20, 2020 Net Income during the year was $604,800 and was in the Income Summary account. On April 1, 2020 Travis Roberts invested $147,700 and was admitted to the partnership for a 20% interest in equity Required: 1. Prepare journal entries for the following dates. a. April 1, 2019 View transaction fist Journal entry worksheet
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