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on a april 20, 2019, guy comeau and amelie lavoi formed a partnership in ontario...

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Accounting

on a april 20, 2019, guy comeau and amelie lavoi formed a partnership in ontario
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Problem 11-5A Partnership entries, profit allocation, admission of a partner LO2, 3, 4 On April 1, 2019, Guy Comeau and Amelle Lavoi formed a partnership in Ontario. Contribution Comeau $315,900 cash Lavoi $188,000 land $139,400 building Profit sharing $154,600 salary allowance 5% of original capital investments 40% of remaining 5% of original capital investments 60% of remaining $123,900 Cash withdrawal March 20, 2020 Net Income during the year was $599,200 and was in the Income Summary account. On April 1, 2020 Travis Roberts invested $136,600 and was admitted to the partnership for a 20% interest in equity. Required: 1. Prepare journal entries for the following dates a. April 1, 2019 es a. April 1, 2019 me invring voies. View transaction list Journal entry worksheet

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