Reno Contributed $104,000 in Cash Plus Equipment Valued at $27,000

question 104

Multiple Choice

Reno contributed $104,000 in cash plus equipment valued at $27,000 to the RD Partnership.The journal entry to record the transaction for the partnership is:

• A)Debit Cash $104,000;debit Equipment $27,000;credit RD Partnership,Capital $131,000.
• B)Debit Cash $104,000;debit Equipment $27,000;credit Common Stock $131,000.
• C)Debit Cash $104,000;debit Equipment $27,000;credit Reno,Capital $131,000.
• D)Debit Reno,Capital $131,000;credit RD Partnership,Capital $131,000.
• E)Debit RD Partnership,Capital $131,000;credit Reno,Capital $131,000.

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Definitions:

Help

Assistance or support provided to someone in need.

Client Excesses

Behaviors or actions by a client that go beyond what is considered normal or acceptable within the therapeutic setting, potentially hindering progress.

Client Deficits

Lacking essential skills, abilities, or resources that clients need in order to function effectively.

Helper

An individual who provides assistance, support, or facilitation in a therapeutic or service-oriented context.