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prepare journal entries prepare journal entries for : a. April 1, 2019 b. b. March 20, 2020 c. March 31, 2020 d. April 1, 2020

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prepare journal entries

image text in transcribed

prepare journal entries for : a. April 1, 2019

b. b. March 20, 2020

c. March 31, 2020

d. April 1, 2020

On April 1, 2019, Guy Comeau and Amelie Lavoi formed a partnership in Ontario. Contribution Profit sharing Comeau Lavoi $309,900 cash $212,000 land $144,900 building $181,400 salary allowance 5% of original 5% of original capital investments capital investments 40% of remaining 60% of remaining $120,400 Cash withdrawal March 20, 2020 Net Income during the year was $616,000 and was in the Income Summary account. On April 1, 2020 Travis Roberts invested $127,000 and was admitted to the partnership for a 20% interest in equity. On April 1, 2019, Guy Comeau and Amelle Lavol formed a partnership in Ontaria Contribution PORE Sharing $109,900 cash 3212, e land $144,900 building $181,400 any lowance E foriginal SX o original Capital Investits capital investents 4 eininger of retaining $120.400 Cash withdrawal March 20, 2 Net Income during the year was $616,000 and was in the Income Summary account On April 1, 2020 Travis Roberts invested $127.000 and was admitted to the partnership for 20% interest in equity Required: 1. Prepare journal entries for the following dates a. April 1, 2019 Credit April 01, 2010 Building 300.000 000 Www h March 20/2020

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