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On April 1, 2022, Guy Comeau and Amelie Lavoi formed a partnership in Ontario. Comeau $283,100 cash Contribution Profit sharing Cash withdrawal March 20, 2023
On April 1, 2022, Guy Comeau and Amelie Lavoi formed a partnership in Ontario. Comeau $283,100 cash Contribution Profit sharing Cash withdrawal March 20, 2023 View transaction list No 1 $174,700 salary allowance Net Income during the year was $593,600 and was in the Income Summary account. On April 1, 2023 Travis Roberts invested $135,200 and was admitted to the partnership for a 20% interest in equity. Required: 1. Prepare journal entries for the following dates. a. April 1, 2022 Date April 01, 2022 5% of original capital investments 40% of remaining View journal entry worksheet Cash Land Building Lavoi $216,000 land $144,900 building General Journal 5% of original capital investments 60% of remaining $107,400 Debit 283,100 216,000 144,900 Credit On April 1, 2022, Guy Comeau and Amelie Lavoi formed a partnership in Ontario. Net Income during the year was $593,600 and was in the Income Summary account. On April 1, 2023 Travis Roberts invested $135,200 and was admitted to the partnership for a 20% interest in equity. Required: 1. Prepare journal entries for the following dates
On April 1, 2022, Guy Comeau and Amelie Lavoi formed a partnership in Ontario. Comeau $283,100 cash Contribution Profit sharing Cash withdrawal March 20, 2023 View transaction list No 1 $174,700 salary allowance Net Income during the year was $593,600 and was in the Income Summary account. On April 1, 2023 Travis Roberts invested $135,200 and was admitted to the partnership for a 20% interest in equity. Required: 1. Prepare journal entries for the following dates. a. April 1, 2022 Date April 01, 2022 5% of original capital investments 40% of remaining View journal entry worksheet Cash Land Building Lavoi $216,000 land $144,900 building General Journal 5% of original capital investments 60% of remaining $107,400 Debit 283,100 216,000 144,900 Credit
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