Suzy Vopat has owned and operated a proprietorship for several years. On January 1, she decides to terminate this business and become a partner in the firm of Vopat and Sigma. Vopat's investment in the partnership consists of $11,700in cash, and the following assets of the proprietorship: accounts receivable $14,000less allowance for doubtful accounts of $2,200, and equipment $20,300less accumulated depreciation of $4,400. It is agreed that the allowance for doubtful accounts should be $3,300for the partnership. The fair value of the equipment is $12,500

Biercise 1273 Suzy Vonat has owned and operated a nroprietorship lor several years. On January 1, she decides to terminate this business and bewme 3 partner in the lirrn ofvopet and Sigma. Vopat's investment in the partnership Donsisls if $11,700 in cash, and [tie following assets pf the proarieloiship: amounts receivable $14,000 la's aiiuwanee rur dnuhtful aceuunis of $2,203, and equipment $20,311:] less aecurnuiated depreciaiian nf $4,400. It is agreed that Ihe aiiuwance rur dnuhtful accuunls shuuld be $3,300 for the pamiersn The fair value ufthe equipment is $12,500. Jeurnaiize Vopat's adrni on tu me firm (if Vupat and sigma. (credit mum titles are autmlamy indented when ammntis entered. Do nalindent manually.) Davie mmTlesar-i Explanaholl Dem meiit Jan. 1 v ' v v v v LIIIK I'D rm