SReising Contributed $48,000 in Cash Plus Equipment Valued at $73,000

question 59

Multiple Choice

S.Reising contributed $48,000 in cash plus equipment valued at $73,000 to the Reising Construction Partnership.The journal entry to record the transaction for the partnership is:

• A) \[\begin{array} { | l | c | c | }
• \hline \text { Cash } \ldots \ldots \ldots \ldots \ldots \ldots \ldots \ldots & 48,000 & \\
• \hline \text { Equipment } \ldots \ldots \ldots \ldots \ldots \ldots \ldots \ldots \ldots \ldots \ldots \ldots & 73,000 \\
• \hline \text { \quad S. Reisirg, Capital } \ldots \ldots \ldots \ldots \ldots \ldots \ldots \ldots \ldots \ldots \ldots \ldots & & 121,000 \\
• \hline
• \end{array}\]
• B) \[\begin{array} { | l | c | c | }
• \hline \text { Cash } \ldots \ldots \ldots \ldots \ldots \ldots \ldots \ldots & 48,000 & \\
• \hline \text { Equipment } \ldots \ldots \ldots \ldots \ldots \ldots \ldots \ldots \ldots \ldots \ldots \ldots & 73,000 \\
• \hline \text { \quad Reising Construction Partnership, Capital } \ldots \ldots \ldots \ldots & & 121,000 \\
• \hline
• \end{array}\]
• C) \[\begin{array} { | c | c | c | }
• \hline \text { Reising Construction Partreership } \ldots \ldots \ldots \ldots \ldots \ldots \ldots \ldots & 121,000 & \\
• \hline \text { S. Reisirg, Capital } \ldots \ldots \ldots \ldots \ldots \ldots \ldots \ldots \ldots \ldots \ldots \ldots & & 121,000 \\
• \hline
• \end{array}\]
• D) \(\begin{array}{ | l | r| r| }
• \hline \text{S. Reising, Capital} \ldots \ldots \ldots \ldots \ldots\ldots \ldots \ldots \ldots \ldots& 121,000 & \\
• \hline \text{\quad Reising Construction Partnership, Capital} \ldots \ldots \ldots& & 121,000\\
• \hline
• \end{array}\)
• E) \(\begin{array}{ | l | r| r| }
• \hline \text{Cash} \ldots \ldots \ldots \ldots \ldots\ldots \ldots \ldots \ldots \ldots& 48,000 & \\
• \hline \text{ Equipment} \ldots \ldots \ldots & 73,000\\
• \hline \text{\quad Common Stock} \ldots \ldots \ldots& & 121,000\\
• \hline
• \end{array}\)

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