| | (a) | | Your answer has been saved and sent for grading. See Gradebook for score details. | | | | Prepare the journal entries to record each of the partners investments. (Credit account titles are automatically indented when amount is entered. Do not indent manually.) | Account Titles and Explanation | Debit | Credit | | Land Toso, Drawings Decker, Capital Inventory Notes Payable Accounts Receivable Equipment Cash Buildings Salaries Expense Decker, Drawings Depreciation Expense Rosen, Drawings Loss on Realization Net (Loss) Income Toso, Capital Accumulated Depreciation - Equipment Rosen, Capital Allowance for Doubtful Accounts Accounts Payable Gain on Realization Income Summary | | | | Salaries Expense Notes Payable Inventory Decker, Drawings Accumulated Depreciation - Equipment Gain on Realization Loss on Realization Rosen, Drawings Income Summary Allowance for Doubtful Accounts Depreciation Expense Land Toso, Capital Toso, Drawings Equipment Cash Decker, Capital Buildings Rosen, Capital Accounts Receivable Accounts Payable Net (Loss) Income | | | | (To record investment of Decker.) | | | | Loss on Realization Gain on Realization Income Summary Cash Equipment Accounts Payable Rosen, Capital Accounts Receivable Decker, Capital Land Rosen, Drawings Allowance for Doubtful Accounts Depreciation Expense Net (Loss) Income Buildings Toso, Capital Toso, Drawings Accumulated Depreciation - Equipment Inventory Salaries Expense Notes Payable Decker, Drawings | | | | Decker, Drawings Loss on Realization Accumulated Depreciation - Equipment Rosen, Drawings Cash Decker, Capital Inventory Land Income Summary Net (Loss) Income Rosen, Capital Depreciation Expense Buildings Accounts Receivable Allowance for Doubtful Accounts Salaries Expense Equipment Toso, Capital Toso, Drawings Accounts Payable Gain on Realization Notes Payable | | | | Decker, Drawings Allowance for Doubtful Accounts Inventory Toso, Capital Rosen, Drawings Decker, Capital Loss on Realization Income Summary Toso, Drawings Notes Payable Depreciation Expense Net (Loss) Income Rosen, Capital Accounts Payable Cash Land Accumulated Depreciation - Equipment Salaries Expense Buildings Gain on Realization Accounts Receivable Equipment | | | | (To record investment of Rosen.) | | | | Cash Gain on Realization Loss on Realization Accounts Payable Income Summary Equipment Accounts Receivable Allowance for Doubtful Accounts Net (Loss) Income Decker, Capital Accumulated Depreciation - Equipment Toso, Capital Land Depreciation Expense Salaries Expense Notes Payable Inventory Decker, Drawings Rosen, Drawings Toso, Drawings Buildings Rosen, Capital | | | | Rosen, Drawings Buildings Rosen, Capital Income Summary Inventory Loss on Realization Equipment Accounts Payable Net (Loss) Income Cash Gain on Realization Depreciation Expense Toso, Capital Decker, Capital Accounts Receivable Land Accumulated Depreciation - Equipment Allowance for Doubtful Accounts Salaries Expense Toso, Drawings Notes Payable Decker, Drawings | | | | Buildings Income Summary Allowance for Doubtful Accounts Cash Rosen, Capital Decker, Capital Net (Loss) Income Accounts Receivable Inventory Decker, Drawings Rosen, Drawings Accounts Payable Land Toso, Capital Toso, Drawings Equipment Gain on Realization Loss on Realization Depreciation Expense Notes Payable Accumulated Depreciation - Equipment Salaries Expense | | | | Depreciation Expense Accounts Payable Allowance for Doubtful Accounts Toso, Drawings Cash Accumulated Depreciation - Equipment Loss on Realization Gain on Realization Salaries Expense Notes Payable Accounts Receivable Inventory Decker, Drawings Income Summary Equipment Rosen, Drawings Toso, Capital Decker, Capital Land Buildings Net (Loss) Income Rosen, Capital | | | | Notes Payable Net (Loss) Income Equipment Buildings Depreciation Expense Rosen, Capital Salaries Expense Accounts Receivable Gain on Realization Toso, Drawings Land Allowance for Doubtful Accounts Toso, Capital Inventory Accumulated Depreciation - Equipment Decker, Drawings Decker, Capital Rosen, Drawings Accounts Payable Loss on Realization Income Summary Cash | | | | (To record investment of Toso.) | | | | |
