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lions [1.4K]
3 years ago
9

Rodriguez and Ying start a partnership on July​ 1, 2019. Rodriguez contributes​ $4,100 cash, furniture with a current market val

ue of​ $47,000, accounts payable with a current market value of​ $16,000 and equipment with a current market value of​ $23,000. Which of the following is the correct journal entry to record​ Rodriquez's partnership​ investment?
Business
1 answer:
guapka [62]3 years ago
6 0

Answer:

Explanation:

The journal entry is shown below:

Cash A/c Dr                    $4,100

Equipment A/c Dr           $23,000

Furniture A/c Dr              $47,000

          To Account payable                $16,000      

          To Rodriguez's Capital            $58,100

(Being all adjustments are recorded and the remaining balance is credited to Rodriguez's Capital.

Remaining balance is calculated by

= Cash A/c + Equipment A/c + Furniture A/c - Accounts payable

= $4,100 + $23,000 + $47,000 - $16,000

= $74,100 - $16,000

= $58,100

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<h3>How to we find minimised cost?</h3>

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1 year ago
Prepare journal entries to record each of the following four separate issuances of stock. A corporation issued 5,000 shares of $
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Answer and Explanation:

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3 years ago
A speaker who begins with, "It's a pleasure to return to State University. As you know, I'm a graduate of State. Though it was s
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Answer:

C. Personal Reference introduction

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A barometer of short-term interest rates and one that is therefore considered the most volatile interest rate in the u. s. econo
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A barometer of short-term interest rates and one that is therefore considered the most volatile interest rate in the US economy is the federal funds rate.

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1 year ago
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Answer:

$450,000

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3 years ago
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