Question
Penner and Torres decide to merge their proprietorships into a partnership called Pentor Company. The balance sheet of Torres Co. shows: Accounts receivable $31,800 Less:
Penner and Torres decide to merge their proprietorships into a partnership called Pentor Company. The balance sheet of Torres Co. shows:
| Accounts receivable | $31,800 | |
| Less: Allowance for doubtful accounts | 2,226 | $29,574 |
| Equipment | 22,600 | |
| Less: Accumulated depreciationequip. | 7,910 | 14,690 |
The partners agree that the net realizable value of the receivables is $26,712and that the fair value of the equipment is $12,430. Indicate how the accounts should appear in the opening balance sheet of the partnership.
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Introduction to Operations Research
Authors: Frederick S. Hillier, Gerald J. Lieberman
10th edition
978-0072535105, 72535105, 978-1259162985
