The journal entries to record each of the partners investments are: Debit Cash $53,900, Credit Decker, capital $53,900.
<h3>Journal entries</h3>
a. Debit Cash $53,900
Credit Decker, capital $53,900
(To record Decker investment)
Debit Land $17,300
Debit Building $78,600
Credit S. Rosen Capital $95,900
($17,800+$78,600)
(To record s,. rosen investment)
Debit Cash $13,300
Debit Account receivable $35,600
Debit Equipment $21,200
Credit Allowance for Bad debts $3,560
($35,600-$32,040)
Credit Toso, capital $66,540
($13,300+$35,600+$21,200-$3,560)
(To record toso investment)
b. Partner's capital statement
Owner's equity
Deckers capital $53,900
S. rosen capital $95,900
Toso capital $66,540
Total owner's equity $216,340
Therefore the journal entries to record each of the partners investments are: Debit Cash $53,900, Credit Decker, capital $53,900.
Learn more about journal entries here: brainly.com/question/14279491
#SPJ1
The complete question is:
k. decker, s. rosen, and e. toso are forming a partnership. decker is transferring $53,900 of personal cash to the partnership. rosen owns land worth $17,300 and a small building worth $78,600, which she transfers to the partnership. toso transfers to the partnership cash of $13,300, accounts receivable of $35,600, and equipment worth $21,200. the partnership expects to collect $32,040 of the accounts receivable.
a. Prepare the journal entries to record each of the partners investments.
b. What amount would be reported as total owner's equity immediately after the investments?
