Question
Reno contributed $239,000 in cash plus equipment valued at $39,000 to the RD Partnership. The journal entry to record the transaction for the partnership is:
Reno contributed $239,000 in cash plus equipment valued at $39,000 to the RD Partnership. The journal entry to record the transaction for the partnership is:
a. Debit Cash $239,000; debit Equipment $39,000; credit RD Partnership, Capital $278,000.
b. Debit Cash $239,000; debit Equipment $39,000; credit Common Stock $278,000.
c. Debit Cash $239,000; debit Equipment $39,000; credit Reno, Capital $278,000.
d. Debit Reno, Capital $278,000; credit RD Partnership, Capital $278,000.
e. Debit RD Partnership, Capital $278,000; credit Reno, Capital $278,000.
Please show work.
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Government Audit An Effective Tool For The Anti Corruption Struggle In The New Era Of Chinas Governance
Authors: Bowen Zou, Yanzhe Dr. Zhang, Yang Dr. ZHAO, Jian Dr. Zhang
1st Edition
1844646068, 978-1844646067
