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Question 6 [20 points) On January 25, 2014. Ryan Player and Kimberly Fisherformed a partiership Ryan Player controuted 5100.000 cash and Kimberly Fisher contributed machinery
Question 6 [20 points) On January 25, 2014. Ryan Player and Kimberly Fisherformed a partiership Ryan Player controuted 5100.000 cash and Kimberly Fisher contributed machinery worth $110.000. Also the partnership assumed Kimberly Fisher $10,000 long-term note payable associated with the machinery. The partners agreed to share profits equally. On November 20. Ryan Player withdrew 516,000 and Kimberly Fisher withdrew 530,000. Alter the adjusting entries and the closing entries to the revenue and expense account the income Summary account had a debit balance of 599.000 a rere general journal is for each of the fing To record the initial capital investments of the partners 2 To record the withdrawals of the partners The December 31 closing of the come summary account 4. The December 31 closing of the withdrawas accounts Enter the numbers above as the explanation and eat the format de 15 Denema PO TELEGE Enter the balance of the parent colours of the end of 2014 Bence of Ryan Pare. Cap. Balance of romery Fisher Capital
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