R Ith security updates, fixes, and Improvements, choose Check for A part from running Min Armin Wasteage Minnie has also been involved in a partnership with her cousin Max. While the business has been running quite well both Max and Minnie have decided it is time to move on. The latest balance sheet for the business is outlined below. Assets Liabilities Accounts Payable Accrued Expenses Cash Accounts Receivable Inventory Office Equipment Motor Vehicles Warehouse Land Goodwill 9,300 900'0 000 30,600 30,440 59,560 79,200 192,000 19,738 Equity 319,444 Minnie 531,444 543,544 543,544 Max and Minnie have been offered $450,000 for all the non-cash assets of the business and they have decided to accept the offer. As Max has spent more time with the business profit and losses are shared 60% to Max and 40% to Minnie. Required 1. Show the journal entries required to dissolve the partnership. English (Australia) Focus 三 MacBook Air 000 000 F4 F5 F6 F7 F8 LL 24 4. & %23 V 5 ) 3. 8 7. 6 } F H. K.
R Ith security updates, fixes, and Improvements, choose Check for A part from running Min Armin Wasteage Minnie has also been involved in a partnership with her cousin Max. While the business has been running quite well both Max and Minnie have decided it is time to move on. The latest balance sheet for the business is outlined below. Assets Liabilities Accounts Payable Accrued Expenses Cash Accounts Receivable Inventory Office Equipment Motor Vehicles Warehouse Land Goodwill 9,300 900'0 000 30,600 30,440 59,560 79,200 192,000 19,738 Equity 319,444 Minnie 531,444 543,544 543,544 Max and Minnie have been offered $450,000 for all the non-cash assets of the business and they have decided to accept the offer. As Max has spent more time with the business profit and losses are shared 60% to Max and 40% to Minnie. Required 1. Show the journal entries required to dissolve the partnership. English (Australia) Focus 三 MacBook Air 000 000 F4 F5 F6 F7 F8 LL 24 4. & %23 V 5 ) 3. 8 7. 6 } F H. K.
Century 21 Accounting General Journal
11th Edition
ISBN:9781337680059
Author:Gilbertson
Publisher:Gilbertson
Chapter4: Posting To A General Ledger
Section4.2: Posting From A General Journal To A General Ledger And Proving Cash
Problem 1OYO
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