On March 1, 2, Enc Kome and Renee Watace forma partnership Kere agrees to wwe 24.000 in cash and merchandise inventory valued at $1,200. Wallace invests certain new asun at valuation reed upon, transfers business lates, and contributes suficient cach to bring her total capital to $60,960 Details regarding the book values of the business assets and habits, and the agreed valuations. folio Accounts Receivable Allowance for Dout Accounts Equipment Accumulated Depreciation Accounts Payable Notes Payable current Wallace's Ledger Agreed-Upon Balance Valuation $18.650 $17.770 1,950 83 2:30 30,200 14 910 14,910 35.970 35,970 The theoreement includes the following provisions regarding the division of net income interest on original verstments at 10 salary lowances of $22.060 Koene) and $30.270 (Wallace, and the remainder equally Required: 1 lomake the entries on March 1 to record the westments of Keene and Wallace the partnership accoul> 2. Prepare a balance sheet as of March | 2070, the date of formation of the porterp of Koune and Wotace 3 Alter auments at February 28, 2019 Mhe end of the Art year of operations, the revenues were $200 150 and expenses were $203,500, for a net income of $89650 The drawing accounts have debit balances of $27.600 Keene) and 530.000 (Wallace) Journakothe entre to chose the revenues and expenses and the drawing accounts at February 28, 2019 Refer to the Chart of Accounts and the list of Labels and Amount Descriptions provided for the exact wording of the answer choice for our 1 Journalize the entries on March 1 to record the investments of Keene and Wallacen the pashpiccounts Refer to the Chart of Accounts for exact wording of accounts MES JOURNAL PUTE DESCRIPTION POSTRE DEBIT CREDIT ACCOUNTILATION ASSETS TOUITY 1 2 1 1 7 18 9 10 3 Aer adjustments at February 28, 2019, the end of the first year of operations the revenues were $293.150 and expenses were $203 500 for an income of 509 660 The drawing accounts have debit balance of $27.600 (Keene) and 530,800/Walace) Journalther to close the revenues and expenses and the craving accounts at February 24 2018 Heler to the Charter Accounts for exact wording of accounts required, round your answers to two decimal places 20 JOURNAL DATE DESCRIPTION POST CREDIT ATTI LALITIES AVSETS Congres Labels Amount Descriptions Current assets Total assets Current liabilities Total current assets Property, plant and equipment Total liabilities Total liabilities and members' equity Total liabilities and partners' equity Total members' equity Total partners' equity 2. Prewe wance we go or Mront. Bove, we are o formato de paper one w Wien Rester is the Chart Accord and we will served tweet www/ cocon for mer enn bonor executa croworquay low or cowy WI KUONIONY Owegure and we Bache March 20 Assets 1 . 1 Liabilities 11 Partners Equity Cine 1 Assets 2 (Label) 3 5 6 7 (Label) 9 10 11 Liabilities 12 (Label) 15 14 15 16 Partners' Equity 17 18 19 20 On March 1, 2, Enc Kome and Renee Watace forma partnership Kere agrees to wwe 24.000 in cash and merchandise inventory valued at $1,200. Wallace invests certain new asun at valuation reed upon, transfers business lates, and contributes suficient cach to bring her total capital to $60,960 Details regarding the book values of the business assets and habits, and the agreed valuations. folio Accounts Receivable Allowance for Dout Accounts Equipment Accumulated Depreciation Accounts Payable Notes Payable current Wallace's Ledger Agreed-Upon Balance Valuation $18.650 $17.770 1,950 83 2:30 30,200 14 910 14,910 35.970 35,970 The theoreement includes the following provisions regarding the division of net income interest on original verstments at 10 salary lowances of $22.060 Koene) and $30.270 (Wallace, and the remainder equally Required: 1 lomake the entries on March 1 to record the westments of Keene and Wallace the partnership accoul> 2. Prepare a balance sheet as of March | 2070, the date of formation of the porterp of Koune and Wotace 3 Alter auments at February 28, 2019 Mhe end of the Art year of operations, the revenues were $200 150 and expenses were $203,500, for a net income of $89650 The drawing accounts have debit balances of $27.600 Keene) and 530.000 (Wallace) Journakothe entre to chose the revenues and expenses and the drawing accounts at February 28, 2019 Refer to the Chart of Accounts and the list of Labels and Amount Descriptions provided for the exact wording of the answer choice for our 1 Journalize the entries on March 1 to record the investments of Keene and Wallacen the pashpiccounts Refer to the Chart of Accounts for exact wording of accounts MES JOURNAL PUTE DESCRIPTION POSTRE DEBIT CREDIT ACCOUNTILATION ASSETS TOUITY 1 2 1 1 7 18 9 10 3 Aer adjustments at February 28, 2019, the end of the first year of operations the revenues were $293.150 and expenses were $203 500 for an income of 509 660 The drawing accounts have debit balance of $27.600 (Keene) and 530,800/Walace) Journalther to close the revenues and expenses and the craving accounts at February 24 2018 Heler to the Charter Accounts for exact wording of accounts required, round your answers to two decimal places 20 JOURNAL DATE DESCRIPTION POST CREDIT ATTI LALITIES AVSETS Congres Labels Amount Descriptions Current assets Total assets Current liabilities Total current assets Property, plant and equipment Total liabilities Total liabilities and members' equity Total liabilities and partners' equity Total members' equity Total partners' equity 2. Prewe wance we go or Mront. Bove, we are o formato de paper one w Wien Rester is the Chart Accord and we will served tweet www/ cocon for mer enn bonor executa croworquay low or cowy WI KUONIONY Owegure and we Bache March 20 Assets 1 . 1 Liabilities 11 Partners Equity Cine 1 Assets 2 (Label) 3 5 6 7 (Label) 9 10 11 Liabilities 12 (Label) 15 14 15 16 Partners' Equity 17 18 19 20