1) Kelly Green and Rose Violet form a partnership. Kelly contributes $130,000 cash and Rose contributes equipment worth $20,000 and a building worth...

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1) Kelly Green and Rose Violet form a partnership. Kelly contributes $130,000 cash and Rose contributes equipment worth $20,000 and a building worth $150,000. The building has a mortgage of $70,000 that will now be paid by the partnership. Write the required journal entries for each partner's investment.2) Partner Z withdraws cash of $25,000 and Partner Y withdraws $ 18,000 write the Journal entries required to record each partners Withdrawal. (the examples about journal Partnership below:)

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1) Kelly Green and Rose Violet form a partnership. Kelly contributes $130,000 cash and Rose contributes equipment worth $20,000 and a building worth...

  • Written in: 17-Oct-2019
  • Paper ID: 321433
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DATE ANSWERED

Oct 17, 2019

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