Logo
Home Study Material Contact Search
AI Chat FREE
  1. business
  2. accounting
  3. lses 5ss pe 12-1a journalizing partner's original

lses 5SS PE 12-1A Journalizing partner's original investment OBJ. 2 Catrina Santana contributed a patent,...

70.2K

Verified Solution

Question

Accounting

image

image

image

image

lses 5SS PE 12-1A Journalizing partner's original investment OBJ. 2 Catrina Santana contributed a patent, accounts receivable, and $23,000 The patent had a boo peared to have significant market potential. Thus, the patent accounts receivable control account was $38,000, with an allowance for doubtful accounts of $2,000. The partnership also a cash to a partnership. k value of $8,000. However, the technology covered by the patent ap- was appraised at $85,000. The ssumed a $10,000 account payable owed to a Santana supplier. Provide the journal entry for Santana's contribution to the partnership

Answer & Explanation Solved by verified expert
Get Answers to Unlimited Questions

Join us to gain access to millions of questions and expert answers. Enjoy exclusive benefits tailored just for you!

Membership Benefits:
  • Unlimited Question Access with detailed Answers
  • Zin AI - 3 Million Words
  • 10 Dall-E 3 Images
  • 20 Plot Generations
  • Conversation with Dialogue Memory
  • No Ads, Ever!
  • Access to Our Best AI Platform: Flex AI - Your personal assistant for all your inquiries!
Become a Member

Other questions asked by students

Q

Based on the following information determine the true balance in your checking account Balance in...

Basic Math
Q

Patients with chronic hypertension are at risk for suffering kidney damage in our total to reduce...

Medical Sciences
Q

Check All That Apply infectious microorganisms corrosive chemicals chemical fumes

Biology
Q

find the domain of each function in interval notation f x 2r 5r 6 x...

Geometry
Q

According to the information that comes with a certain prescription drug when taking this drug...

Statistics
Q

On January 1, the first day of the fiscal year, a company issues a $3,000,000,...

Accounting
Q

Adjusted trial balance is considered meaningful and reliable information for preparing financial statements i.e., income...

Accounting
Q

Required information [The following information applies to the questions displayed below] The following are the...

Accounting
Q

The question is based on the monthly payroll record of Division S and Agency A...

Accounting
Q

1. Sally Jesse would like to relax and not work for the next 6 years,...

Accounting
Q

In accounting, which of the following measures is commonly employed for managing risks in the...

Accounting
Q

Parson deposits $1,000 into a savings account. Every three years, he makes a deposit. Each...

Finance