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Question 20:

Blossom Company at December 31 has cash $20,000, noncash assets $100,000, liabilities $50,000, and the following capital balances: Floyd $42,000and DeWitt $28,000. The firm is liquidated, and $110,000in cash is received for the noncash assets. Floyd and DeWitt's income ratios are60% and40%, respectively. Blossom Company decides to liquidate the partnership. Prepare the entries to record: (Credit account titles are automatically indented when the amount is entered. Do not indent manually.)

a.		The sale of noncash assets.
b.		The allocation of the gain or loss on realization to the partners.
c.		Payment of creditors.
d.		Distribution of cash to the partners.

Question 21:

before the distribution of cash to the partners, the accounts in the Sandhill Company are Cash $34,000; Vogel, Capital (Cr.) $19,600; Utech, Capital (Cr.) $17,600; and Pena, Capital (Dr.) $3,200. The income ratios are 5:3:2, respectively. Sandhill Company decides to liquidate the company.

(a)

Prepare the entry to record (1) Pena's payment of $3,200in cash to the partnership and (2) the distribution of cash to the partners with credit balances. (Credit account titles are automatically indented when the amount is entered. Do not indent manually.)

Question 22:

K. Kolmer, C. Eidman, and C. Ryno share income on a 5:3:2 basis. They have capital balances of $27,400, $29,800, and $23,700, respectively when Don Jernigan is admitted to the partnership. Prepare the journal entry to record the admission of Don Jernigan under each of the following assumptions. (Credit account titles are automatically indented when the unit is entered. Do not indent manually.)

a.		Don Jernigan purchases 50% of Kolmer's equity for $19,600.
b.		Don Jernigan purchases 50% of Eidman's equity for $7,900.
c.		Don Jernigan purchases 331/3% of Ryno's equity for $10,000.

Question:23

S. Pagan and T. Tabor share income on a7:3basis. They have capital balances of $120,000and $70,000, respectively, when W. Wolford is admitted to the partnership. Prepare the journal entry to record the admission of W. Wolford under each of the following assumptions.

(a)

Investment of $99,000cash for a 30% ownership interest with bonuses to the existing partners. (Credit account titles are automatically indented when the drawing amount is entered. Do not indent manually.)

Account Titles and Explanation	Debit	Credit
enter an account title to record investment of cash for a 30% ownership interest Accumulated Depreciation - EquipmentEquipmentGain on RealizationW. Wolford, CapitalLoss on RealizationT. Tabor, CapitalAllowance for Doubtful AccountsDistributionsCashNet (Loss) IncomeInventoryAccounts PayableDepreciation ExpenseSalaries ExpenseW. Wolford, DrawingsIncome summary. Tabor, DrawingsNotes PayableS.Pagan, DrawingsAccounts ReceivableS.Pagan, Capital	enter a debit amount	enter a credit amount
enter an account title to record investment of cash for a 30% ownership interest W. Wolford, CapitalNotes PayableS. Pagan, DrawingsSalaries expenses summary. Tabor, CapitalEquipmentNet (Loss) IncomeInventoryCashW. Wolford, DrawingsAccounts ReceivableS.Pagan, CapitalLoss on RealizationAccounts PayableAllowance for Doubtful AccountsGain on RealizationAccumulated Depreciation - EquipmentIncome SummaryDepreciation expenses. Tabor, DrawingsDistributions	enter a debit amount	enter a credit amount
enter an account title to record investment of cash for a 30% ownership interest Salaries ExpenseS.Pagan, DrawingsEquipmentAccounts ReceivableDepreciation expenses. Tabor, DrawingsDistributionsW. Wolford, CapitalLoss on RealizationAccumulated Depreciation - EquipmentNotes PayableNet (Loss) IncomeCashS.Pagan, CapitalInventoryAccounts payable. Wolford, DrawingsGain on RealizationIncome SummaryAllowance for Doubtful accounts. Tabor, Capital	enter a debit amount	enter a credit amount
enter an account title to record investment of cash for a 30% ownership interest Gain on RealizationIncome SummaryNotes PayableLoss on RealizationT. Tabor, DrawingsEquipmentS.Pagan, drawings. Wolford, CapitalS.Pagan, CapitalCashSalaries ExpenseAccumulated Depreciation - EquipmentDepreciation ExpenseAllowance for Doubtful AccountsAccounts ReceivableInventoryW. Wolford, DrawingsAccounts payable. Tabor, CapitalNet (Loss) IncomeDistributions	enter a debit amount	enter a credit amount

Question 24:

At the end of its first year of operations on December 31, 2022, Sunland Company's accounts show the following.

Partner		Drawings		Capital
Art Niensted		$26,680		$55,680
Greg Bolen		11,704		34,800
Krista Sayler		11,600		29,000

The capital balance represents each partner's initial capital investment. Therefore, net income or net loss for 2022 has not been closed to the partners' capital accounts.

(a)

Journalize the entry to record the division of net income for the year 2022 under each of the following independent assumptions. (Credit account titles are automatically indented when the NestedNestedamount is entered. Do not indent manually.)

1.		Net income is $34,800. Income is shared 6:3:1.
2.		Net income is $46,400. Nested and Bolen are given salary allowances of $17,400and $11,600, respectively. The remainder is shared equally.
3.		Net income is $22,040. Each partner is allowed equipment interest of 10% on beginning capital balances. NestedNested is given a $17,400salary allowance. The remainder is shared equally.

No.	Account Titles and Explanation	Debit	Credit
1.	select an account title to record the division of net income under the first assumption Depreciation ExpenseNotes PayableLoss on RealizationK. Sayler, CapitalAccounts payableNested. Bolen, CapitalK. Sayler, DrawingsNet (Loss) IncomeAccounts ReceivableIncome SummaryAccumulated Depreciation - equipment. Nested, Capitale. Nested, DrawingsAllowance for Doubtful AccountsSalaries ExpenseG. Bolen, DrawingsCashGain on RealizationInventoryEquipment	enter a debit amount	enter a credit amount
	select an account title to record the division of net income under the first assumption Loss on RealizationIncome SummaryAccounts ReceivableK. Sayler, CapitalG. Bolen, DrawingsAccumulated Depreciation - EquipmentGain on RealizationEquipmentK. Sayler, DrawingsAccounts PayableNotes PayableSalaries ExpenseAllowance for Doubtful accounts drawings. Bolen, CapitalNet (Loss) IncomeCashA. Nested, DrawingsDepreciation ExpenseA. Nested, CapitalInventory	enter a debit amount	enter a credit amount
	select an account title to record the division of net income under the first assumption A. Niensted, DrawingsAccumulated Depreciation - EquipmentDepreciation ExpenseSalaries ExpenseAccounts PayableEquipmentIncome SummaryLoss on RealizationG. Bolen, drawings. Bolen, CapitalK. Sayler, DrawingsAllowance for Doubtful AccountsInventoryNet (Loss) IncomeCashAccounts ReceivableNotes payable. NestedCapitale, CapitalK. Sayler, CapitalGain on Realization	enter a debit amount	enter a credit amount
	select an account title to record the division of net income under the first assumption Accounts ReceivableG. Bolen, DrawingsLoss on RealizationK. Sayler, CapitalAllowance for Doubtful AccountsGain on RealizationCashG. Bolen, Capitale. Nested, DrawingsIncome SummaryAccounts PayableDepreciation ExpenseK. Sayler, DrawingsAccumulated Depreciation - EquipmentNotes payable. Nestedpayable, CapitalInventoryEquipmentNet (Loss) IncomeSalaries Expense	enter a debit amount	enter a credit amount
2.	select an account title to record the division of net income under the second assumption Gain on RealizationDepreciation ExpenseAllowance for Doubtful AccountsK. Sayler, DrawingsCashG. Bolen, CapitalEquipmentG. Bolen, DrawingsIncome SummaryAccounts ReceivableAccounts payable. Nested, CapitalInventoryNotes payable. Nested, DrawingsAccumulated Depreciation - EquipmentLoss on RealizationNet (Loss) income drawings. Sayler, CapitalSalaries Expense	enter a debit amount	enter a credit amount
	select an account title to record the division of net income under the second assumption Net (Loss) IncomeG. Bolen, CapitalAccumulated Depreciation - EquipmentSalaries ExpenseAccounts ReceivableA. Nestedaccounts, DrawingsK. Sayler, drawings. Nested, CapitalCashIncome SummaryAllowance for Doubtful AccountsNotes PayableK. Sayler, CapitalAccounts payable. Bolen, DrawingsDepreciation ExpenseLoss on RealizationEquipmentInventoryGain on Realization	enter a debit amount	enter a credit amount
	select an account title to record the division of net income under the second assumption CashSalaries ExpenseIncome SummaryAllowance for Doubtful accounts. Nested, DrawingsNotes payable. Nested, CapitalAccounts ReceivableInventoryK. Sayler, DrawingsAccumulated Depreciation - EquipmentAccounts payable. Bolen, DrawingsDepreciation ExpenseG. Bolen, CapitalLoss on RealizationK. Sayler, CapitalNet (Loss) IncomeGain on RealizationEquipment	enter a debit amount	enter a credit amount
	select an account title to record the division of net income under the second assumption Income SummaryNet (Loss) IncomeLoss on realization. Nested, CapitalAccounts ReceivableGain on RealizationG. Bolen, CapitalEquipmentCashG. Bolen, DrawingsSalaries ExpenseNotes PayableAccumulated Depreciation - equipment realization. Sayler, CapitalAllowance for Doubtful AccountsK. Sayler, drawings. Nested, DrawingsDepreciation ExpenseInventoryAccounts Payable	enter a debit amount	enter a credit amount
3.	select an account title to record the division of net income under the third assumption K. Sayler, CapitalG. Bolen, DrawingsK. Sayler, DrawingsNotes PayableIncome SummaryAccounts PayableAccounts ReceivableNet (Loss) IncomeInventoryGain on realization. Nested, DrawingsEquipmentDepreciation ExpenseLoss on RealizationAllowance for Doubtful AccountsCashA. Nested, CapitalSalaries ExpenseG. Bolen, CapitalAccumulated Depreciation - Equipment	enter a debit amount	enter a credit amount
	select an account title to record the division of net income under the third assumption Allowance for Doubtful AccountsIncome SummaryAccounts PayableCashA. Nested, CapitalK. Sayler, CapitalK. Sayler, drawings. Bolen, CapitalLoss on RealizationNotes PayableSalaries ExpenseA. Niensted, drawings. Bolen, DrawingsAccounts ReceivableInventoryNet (Loss) IncomeDepreciation ExpenseEquipmentGain on RealizationAccumulated Depreciation - Equipment	enter a debit amount	enter a credit amount
	select an account title to record the division of net income under the third assumption G. Bolen, CapitalAccounts PayableEquipmentCashNet (Loss) IncomeAccumulated Depreciation - EquipmentNotes PayableDepreciation ExpenseSalaries ExpenseK. Sayler, DrawingsLoss on RealizationIncome SummaryA. Nested, CapitalAllowance for Doubtful AccountsK. Sayler, CapitalAccounts ReceivableGain on realization tested. Nested, drawings. Bolen, DrawingsInventory	enter a debit amount	enter a credit amount
	select an account title to record the division of net income under the third assumption K. Sayler, drawings. Bolen, CapitalK. Sayler, CapitalIncome SummaryAccounts ReceivableGain on RealizationAccumulated Depreciation - equipment. Bolen, DrawingsNet (Loss) IncomeNotes PayableAllowance for Doubtful AccountsSalaries ExpenseInventoryA. Nested, DrawingsCashEquipmentDepreciation ExpenseLoss on RealizationAccounts payable. Nestedrealization, Capital	enter a debit amount	enter a credit amount

Question 25:

On April 30, partners' capital balances in Ivanhoe Company are G. Donley $56,160, C. Lamar $51,840, and J. Pinkston $19,440. The income sharing ratios are 5: 4: 1, respectively. On May 1, the PDLT Company is formed by admitting J. Terrell to the firm as a partner.

(a)

Journalize the admission of Terrell under each of the following independent assumptions. (Credit account titles are automatically indented when the amount is entered. Do not indent manually. Round answers to 0 decimal places, e.g. 5,275.)

(1)		Terrell purchases 50% of Pinkston's ownership interest by paying Pinkston $17,280in cash.
(2)		Terrell purchases 331/3% of Lamar's ownership interest by paying Lamar $16,200in cash.
(3)		Terrell invests $66,960for a 30% ownership interest, and bonuses are given to the old partners.
(4)		Terrell invests $45,360for a 30% ownership interest, which includes a bonus to the new partner.

No.	Account Titles and Explanation	Debit	Credit
1.	select an account title DistributionsNotes PayableAllowance for Doubtful accounts. Terrell, CapitalNet (Loss) IncomeGain on RealizationIncome SummaryAccumulated Depreciation - EquipmentJ. Terrell, DrawingsC. Lamar, CapitalEquipmentJ. Pinkston, drawings. Lamar, drawings. Donley, DrawingsSalaries ExpenseJ. Pinkston, CapitalDepreciation ExpenseCashG. Donley, CapitalInventoryAccounts ReceivableLoss on RealizationAccounts Payable	enter a debit amount	enter a credit amount
	select an account title EquipmentJ. Terrell, CapitalIncome SummaryJ. Pinkston, CapitalNotes PayableJ. Pinkston, DrawingsInventoryJ. Terrell, DrawingsAccumulated Depreciation - EquipmentG. Donley, DrawingsAccounts ReceivableDepreciation ExpenseAccounts PayableCashC. Lamar, DrawingsSalaries ExpenseG. Donley, CapitalNet (Loss) IncomeLoss on RealizationDistributionsAllowance for Doubtful AccountsGain on RealizationC. Lamar, Capital	enter a debit amount	enter a credit amount
2.	select an account title J. Pinkston, CapitalDistributionsAccounts PayableInventoryC. Lamar, CapitalNet (Loss) IncomeG. Donley, CapitalJ. Terrell, CapitalSalaries ExpenseDepreciation ExpenseGain on RealizationCashG. Donley, DrawingsC. Lamar, DrawingsNotes PayableJ. Terrell, DrawingsLoss on RealizationAccounts ReceivableIncome SummaryEquipmentAccumulated Depreciation - EquipmentJ. Pinkston, DrawingsAllowance for Doubtful Accounts	enter a debit amount	enter a credit amount
	select an account title J. Pinkston, CapitalJ. Terrell, DrawingsAccounts ReceivableDepreciation ExpenseGain on RealizationSalaries ExpenseIncome SummaryNotes payable. Donley, drawings equipment drawings. Pinkston, DrawingsLoss on RealizationNet (Loss) IncomeJ. Terrell, CapitalEquipmentAccounts PayableDistributionsAccumulated Depreciation - EquipmentAllowance for Doubtful accounts. Lamar, DrawingsCashInventoryC. Lamar, CapitalG. Donley, Capital	enter a debit amount	enter a credit amount
3.	select an account title Income SummaryEquipmentAccounts ReceivableInventoryC. Lamar, CapitalLoss on RealizationC. Lamar, DrawingsAccumulated Depreciation - EquipmentGain on RealizationJ. Pinkston, drawing income. Terrell, CapitalNet (Loss) IncomeDepreciation ExpenseJ. Pinkston, CapitalG. Donley, CapitalAccounts PayableAllowance for Doubtful accounts. Terrell, DrawingsNotes PayableG. Donley, DrawingsSalaries ExpenseDistributionsCash	enter a debit amount	enter a credit amount
	select an account title InventorySalaries ExpenseDepreciation ExpenseEquipmentJ. Terrell, CapitalGain on RealizationC. Lamar, DrawingsNet (Loss) IncomeDistributionsG. Donley, CapitalJ. Terrell, DrawingsAccumulated Depreciation - EquipmentAccounts PayableLoss on RealizationC. Lamar, CapitalIncome SummaryCashNotes PayableG. Donley, DrawingsAllowance for Doubtful accounts. Pinkston, drawingspayable. Pinkston, CapitalAccounts Receivable	enter a debit amount	enter a credit amount
	select an account title Accounts ReceivableDistributionsAccounts PayableGain on RealizationJ. Terrell, DrawingsAccumulated Depreciation - equipment. Lamar, DrawingsNet (Loss) incomepayable. Pinkston, DrawingsDepreciation ExpenseEquipmentSalaries ExpenseG. Donley, DrawingsNotes PayableCashAllowance for Doubtful AccountsJ. Terrell, CapitalIncome SummaryInventoryLoss on RealizationC. Lamar, CapitalJ. Pinkston, CapitalG. Donley, Capital	enter a debit amount	enter a credit amount
	select an account title Allowance for Doubtful AccountsDepreciation ExpenseJ. Pinkston, CapitalSalaries ExpenseG. Donley, DrawingsGain on RealizationNotes PayableCashJ. Terrell, CapitalJ. Pinkston, DrawingsAccounts ReceivableG. Donley, CapitalC. Lamar, DrawingsC. Lamar, CapitalJ. Terrell, DrawingsAccounts PayableDistributionsLoss on RealizationNet (Loss) IncomeInventoryAccumulated Depreciation - EquipmentEquipmentIncome Summary	enter a debit amount	enter a credit amount
	select an account title Accounts ReceivableC. Lamar, CapitalEquipmentJ. Terrell, DrawingsNotes PayableGain on RealizationCashJ. Pinkston, CapitalJ. Pinkston, DrawingsDistributionsNet (Loss) income. Terrell, CapitalInventoryAccumulated Depreciation - EquipmentAccounts PayableDepreciation expenses. Lamar, drawingsdrawingsaccounts. Donley, CapitalLoss on RealizationIncome SummaryAllowance for Doubtful AccountsG. Donley, DrawingsSalaries Expense	enter a debit amount	enter a credit amount
4.	select an account title Income SummaryAllowance for Doubtful AccountsAccounts ReceivableC. Lamar, DrawingsSalaries ExpenseJ. Pinkston, CapitalEquipmentNet (Loss) IncomeLoss on RealizationC. Lamar, CapitalAccounts PayableNotes PayableJ. Terrell, drawings accounts. Pinkston, DrawingsAccumulated Depreciation - EquipmentInventoryDepreciation ExpenseG. Donley, DrawingsJ. Terrell, CapitalG. Donley, CapitalDistributionsGain on RealizationCash	enter a debit amount	enter a credit amount
	select an account title G. Donley, CapitalJ. Pinkston, CapitalIncome SummaryAccumulated Depreciation - EquipmentC. Lamar, CapitalInventoryJ. Terrell, DrawingsNotes PayableAccounts ReceivableNet (Loss) IncomeEquipmentGain on RealizationC. Lamar, DrawingsDistributionsCashJ. Terrell, CapitalLoss on RealizationG. Donley, DrawingsDepreciation ExpenseAccounts PayableSalaries ExpenseJ. Pinkston, DrawingsAllowance for Doubtful Accounts	enter a debit amount	enter a credit amount
	select an account title J. Pinkston, DrawingsNet (Loss) IncomeSalaries ExpenseJ. Terrell, CapitalCashDistributionsAccumulated Depreciation - EquipmentIncome SummaryLoss on RealizationNotes PayableAccounts ReceivableJ. Terrell, DrawingsDepreciation expenses equipment drawings. Lamar, DrawingsAllowance for Doubtful accounts. Donley, DrawingsG. Donley, CapitalAccounts PayableInventoryJ. Pinkston, CapitalC. Lamar, CapitalGain on RealizationEquipment	enter a debit amount	enter a credit amount
	select an account title G. Donley, CapitalLoss on RealizationJ. Terrell, CapitalGain on RealizationAccounts PayableIncome SummaryNet (Loss) IncomeInventoryJ. Terrell, DrawingsDepreciation ExpenseEquipmentAllowance for Doubtful accountsdrawings. Pinkston, CapitalNotes PayableDistributionsC. Lamar, CapitalG. Donley, DrawingsCashAccumulated Depreciation - EquipmentC. Lamar, DrawingsSalaries ExpenseAccounts ReceivableJ. Pinkston, Drawings	enter a debit amount	enter a credit amount
	select an account title InventorySalaries ExpenseJ. Pinkston, DrawingsAllowance for Doubtful AccountsJ. Terrell, CapitalJ. Terrell, drawings. Lamar, DrawingsNotes PayableNet (Loss) incomeequipment. Lamar, CapitalG. Donley, DrawingsGain on RealizationDistributionsAccumulated Depreciation - EquipmentCashAccounts PayableLoss on RealizationAccounts ReceivableG. Donley, CapitalEquipmentDepreciation ExpenseJ. Pinkston, CapitalIncome Summary	enter a debit amount	enter a credit amount

Question 26:

On December 31, the capital balances and income ratios in Ivanhoe Company are as follows.

Partner		Capital Balance		Income Ratio
Trayer		$59,000			50%
Emig		44,500			30%
Posada		33,500			20%

(a)

Journalize the withdrawal of Posada under each of the following assumptions. (Credit account titles are automatically indented when the amount is entered. Do not indent manually.)

(1)		Each of the continuing partners agrees to pay $16,400in cash from personal funds to purchase Posada's ownership equity. Each receives 50% of Posada's equity.
(2)		Emig agrees to purchase Posada's ownership interest for $23,600cash.
(3)		Posada is paid $37,580from partnership assets, which includes a bonus to the retiring partner.
(4)		Posada is paid $24,140from partnership assets, and bonuses to the remaining partners are recognized.

No.	Account Titles and Explanation	Debit	Credit
1.	select an account title CashDepreciation ExpenseInventoryNotes PayableEquipmentAccounts PayablePosada, CapitalGain on RealizationNet (Loss) IncomeAccumulated Depreciation - EquipmentAllowance for Doubtful AccountsTrayer, CapitalLoss on RealizationEmig, CapitalEmig, DrawingsAccounts ReceivableDistributionsSalaries ExpenseIncome SummaryPosada, DrawingsTrayer, Drawings	enter a debit amount	enter a credit amount
	select an account title Notes PayableCashPosada, CapitalDistributionsAccounts PayableTrayer, DrawingsInventoryIncome SummaryAllowance for Doubtful AccountsGain on RealizationEquipmentLoss on RealizationDepreciation ExpenseSalaries ExpenseAccumulated Depreciation - EquipmentEmig, DrawingsTrayer, CapitalAccounts ReceivableEmig, CapitalNet (Loss) IncomePosada, Drawings	enter a debit amount	enter a credit amount
	select an account title CashAccumulated Depreciation - EquipmentDistributionsTrayer, DrawingsAccounts ReceivableInventorySalaries ExpenseEmig, CapitalEquipmentAllowance for Doubtful AccountsNotes PayableIncome SummaryAccounts PayableGain on RealizationLoss on RealizationNet (Loss) IncomePosada, DrawingsDepreciation ExpensePosada, CapitalTrayer, CapitalEmig, Drawings	enter a debit amount	enter a credit amount
2.	select an account title Allowance for Doubtful AccountsPosada, DrawingsTrayer, CapitalCashAccumulated Depreciation - EquipmentPosada, CapitalInventoryGain on RealizationNet (Loss) IncomeAccounts ReceivableSalaries ExpenseDistributionsEmig, DrawingsLoss on RealizationEmig, CapitalAccounts PayableNotes PayableEquipmentTrayer, DrawingsIncome SummaryDepreciation Expense	enter a debit amount	enter a credit amount
	select an account title Loss on RealizationEmig, CapitalCashEmig, DrawingsTrayer, CapitalGain on RealizationPosada, DrawingsNet (Loss) IncomeDistributionsAccumulated Depreciation - EquipmentSalaries ExpenseTrayer, DrawingsAllowance for Doubtful AccountsNotes PayableInventoryIncome SummaryDepreciation ExpenseEquipmentAccounts ReceivablePosada, CapitalAccounts Payable	enter a debit amount	enter a credit amount
3.	select an account title Salaries ExpenseDistributionsGain on RealizationAccumulated Depreciation - EquipmentNotes PayableEquipmentAllowance for Doubtful AccountsEmig, CapitalTrayer, CapitalNet (Loss) IncomePosada, DrawingsAccounts PayableEmig, DrawingsDepreciation ExpenseLoss on RealizationInventoryCashPosada, CapitalAccounts ReceivableTrayer, DrawingsIncome Summary	enter a debit amount	enter a credit amount
	select an account title Accounts PayableDistributionsEmig, DrawingsEmig, CapitalAccounts ReceivableEquipmentPosada, CapitalPosada, DrawingsLoss on RealizationAccumulated Depreciation - EquipmentDepreciation ExpenseAllowance for Doubtful AccountsNotes PayableSalaries ExpenseInventoryNet (Loss) IncomeTrayer, DrawingsTrayer, CapitalGain on RealizationIncome SummaryCash	enter a debit amount	enter a credit amount
	select an account title Depreciation ExpenseAllowance for Doubtful AccountsEquipmentPosada, DrawingsEmig, CapitalAccounts ReceivableInventoryAccumulated Depreciation - EquipmentTrayer, DrawingsCashLoss on RealizationSalaries ExpenseIncome SummaryDistributionsNet (Loss) IncomeNotes PayableAccounts PayableTrayer, CapitalEmig, DrawingsGain on RealizationPosada, Capital	enter a debit amount	enter a credit amount
	select an account title Salaries ExpenseLoss on RealizationInventoryTrayer, CapitalPosada, DrawingsDepreciation ExpenseNotes PayablePosada, CapitalAccounts ReceivableEquipmentTrayer, DrawingsAllowance for Doubtful AccountsEmig, DrawingsAccounts PayableCashEmig, CapitalIncome SummaryDistributionsAccumulated Depreciation - EquipmentGain on RealizationNet (Loss) Income	enter a debit amount	enter a credit amount
4.	select an account title Accounts ReceivableTrayer, CapitalInventoryEmig, CapitalSalaries ExpenseAccumulated Depreciation - EquipmentDepreciation ExpenseAccounts PayableTrayer, DrawingsLoss on RealizationAllowance for Doubtful AccountsDistributionsNet (Loss) IncomeIncome SummaryPosada, DrawingsGain on RealizationCashPosada, CapitalEmig, DrawingsEquipmentNotes Payable	enter a debit amount	enter a credit amount
	select an account title Trayer, DrawingsDistributionsLoss on RealizationPosada, DrawingsInventoryAllowance for Doubtful AccountsPosada, CapitalEmig, DrawingsAccounts ReceivableCashEquipmentAccounts PayableEmig, CapitalNotes PayableAccumulated Depreciation - EquipmentSalaries ExpenseTrayer, CapitalDepreciation ExpenseNet (Loss) IncomeIncome SummaryGain on Realization	enter a debit amount	enter a credit amount
	select an account title Net (Loss) IncomeAccounts PayableEmig, DrawingsDepreciation ExpenseSalaries ExpenseDistributionsNotes PayableTrayer, CapitalPosada, CapitalInventoryEquipmentLoss on RealizationTrayer, DrawingsCashGain on RealizationAllowance for Doubtful AccountsIncome SummaryEmig, CapitalAccounts ReceivablePosada, DrawingsAccumulated Depreciation - Equipment	enter a debit amount	enter a credit amount
	select an account title Emig, CapitalGain on RealizationDistributionsAllowance for Doubtful AccountsTrayer, CapitalNet (Loss) IncomeInventoryPosada, DrawingsIncome SummaryAccumulated Depreciation - EquipmentTrayer, DrawingsAccounts ReceivablePosada, CapitalEquipmentEmig, DrawingsLoss on RealizationAccounts PayableNotes PayableDepreciation ExpenseSalaries ExpenseCash	enter a debit amount	enter a credit amount