Please help right away. With this problem writed on paper

,.*.u vw, an... "cv... ACID Final Exam (summer semester 2015) Student's Professor David J. Marnell Na me: Problem # 2 130 points) - Accounting for formation of a partnership below1 complete next page. Brittany O'Grndy owns a shop that sells fishing equipment. Her postclosing trial balance on Dec. 31, 2012, is below: O'Grndy will enter into n partnership with Inez Loche on Jan. 1, 2013. Profits & losses will be shared equally (50/50). O'Grady is to transfer all assets and liabilities of her store to the partnership after revaluation as agreed. Lochc Will invest cash equal to O'Grady's investment after revaluation. The agreed values are: Accounts Receivable (net) $ 28,000; Merchandise Inventory $ 95,000; Furniture and Equipment 55 15,000. we: .: TAGKLE CENTER past liza-sing Trial- Balance Beeember 31, 2012 3,000 40, 000 $5, 000 125, 500 i January 1, 2013 mMMM am mm ami Innil'm Analnw'e Him-met; AC112 Final Exam (summer semester 2015) Student's x Professor David J. Marnell - 7, Name: . Problem # 2 Continued - INSTRUCTIONS: ' 1. ln general journal form, prepare the entries to record: ' a. The receipt of O'Grady's investment of assets and liabilities by the partnership. b. The receipt of Loche's investment of cash. 2. Prepare a balance sheet for O'Grady and Loche Angler's Outpost just after the investments. ' 1 O'Grady and Loche Angler's Outpost. GENERAL JOURNAL Adjusting Entries Date Description Debit C redit 201 3 Jan. 1 mmkm'er's Outpost. EIEIIBB Sheet mm 31, 201 1 ASSETS tellisl'miw items)" "it: Hadflt'fililf; W fiiielhjliliiil fbxuqflrlbi' : Him miracle? timur; ""h l "'ikv"Janunkkfil'ililctlfliii'ilili: m l 'P- q I' ' --......-7--............""'1 J ' U W