SCENARIO: K. Decker, S. Rosen, and E. Toso are forming a partnership. Decker is transferring $53,540 of personal cash to the partnership. Rosen owns land worth $16,550 and a small building worth $81,330, which she transfers to the partnership. Toso transfers to the partnership cash of $11,290, accounts receivable of $34,850 and equipment worth $19,590. The partnership expects to collect $31,365 of the accounts receivable.

Problem A: Prepare the journal entries to record each of the partners investments.

Fields:

Account Titles and Explanation

Debit

Credit

To record investment of Decker.

To record investment of Rosen

To record investment of Toso

Problem B: What amount would be reported as total owners equity immediately after the investments?