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(Solved): salesman and has axready lined up several departrnect stoces to sel the leather goods. Resd the teo ...




salesman and has axready lined up several departrnect stoces to sel the leather goods.
Resd the teoviceftents
Requirements
1.
Requirement 1. What is the purpose of the partnership agreeenent?
The purpose of the partnership agreement is to
Requirement
salesman and has axready lined up several departrnect stoces to sel the leather goods. Resd the teoviceftents Requirements 1. What is the purpose of the parinenhip agreement? 2. If the parthership agreement does not state the proff-and-tass-tharing rasion, how will profts or losses be thwed? 3. Sheley is contribusing \( \$ 220,000 \) in cach and acoounts payatle of \( \$ 50,000 \). Tabares is contributing a bulting that cont Tabares 385,000 . The builing's current market value is osses be shared? 5110,000 , Joumulize the contribution of the twa piartinen: a a belding that coet Tabwres 585,000 . Tha buidingis current marsit value a on the last tine of the journe entry tabla, Requirement 1. What is the purpose of the partnership agreeenent? The purpose of the partnership agreement is to Requirement 2 if the partnership agreement does not state the proft-and-loss-charing ratios. how wil profits or losses be shared? If the partnership agreement does not state the proff-and-loss-sharing tatios, the peofita or losses are shared Requirement 3. Sheisy is contributing \( \$ 220,000 \) in cash and accounts payablo of \( \$ 50,000 \). Tabores is contributing a building that cost Tabares \( \$ 65,000 \). The builingin burnent markit vatue is \( \$ 110.000 \). Journalze the contribution of the two partners. (Record debits fret, then credts. Select the explanstion on the last line of the fournal antiy taske) Begin by journalizing Sthelsy's investment. Shalsy is contributing \( \$ 220,000 \) in cash and accounts payable of \( \$ 50,000 \).


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