Indicate how the accounts should appear in the opening balance sheet of the partnership.


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Indicate how the accounts should appear in the opening balance sheet of the partnership. 1 answer below ยป Penner and Torres decide to merge their proprietorships into a partnership called Pentor Company. The balance sheet of Torres Co. shows: Accounts receivable $16,000 Less:Allowance for doubtful accounts 1,200 $14,800 Equipment 20,000 Less:Accumulated depreiciation-equip 7,000 13,000 The partners agree that the net realizable value of the receivables is $14,500 and that the fair value of the equipment is $11,000. Indicate how the accounts should appear in the opening balance sheet of the partnership. Jun 11 2014 04:12 PM

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