ACC 205 Week 4 Exercise 1 Partner investments journal entries

ACC 205 Week 4 Exercise 1 Partner investments journal entries 1.Partner investments; journal entries. The LP partnership was formed on January 1, 19X7, by investments from Bill Levy and Marv Parcells. Levy contributed $30,000 cash and $80,000 of land. Parcells contributed cash of $50,000 and equipment with a value of $20,000. a. Prepare the journal […]