{"id":49318,"date":"2018-02-20T23:50:30","date_gmt":"2018-02-20T23:50:30","guid":{"rendered":"https:\/\/writemyessayfree.com\/the-post-closing-trial-balances-of-two-proprietorships-on-january-1-2017-are-presented-below-sorensen-company-lucas-company-dr-cr-dr-cr-cash"},"modified":"2017-08-16T12:21:56","modified_gmt":"2017-08-16T12:21:56","slug":"the-post-closing-trial-balances-of-two-proprietorships-on-january-1-2017-are-presented-below-sorensen-company-lucas-company-dr-cr-dr-cr-cash","status":"publish","type":"post","link":"https:\/\/www.benedictsol.com\/blogs\/the-post-closing-trial-balances-of-two-proprietorships-on-january-1-2017-are-presented-below-sorensen-company-lucas-company-dr-cr-dr-cr-cash\/","title":{"rendered":"The post-closing trial balances of two proprietorships on January 1, 2017, are presented below. \u00a0\u00a0 Sorensen Company\u00a0 Lucas Company\u00a0\u00a0 Dr.\u00a0 Cr.\u00a0 Dr.\u00a0 Cr.Cash\u00a0 $17,000\u00a0\u00a0\u00a0 $14,600\u00a0\u00a0Accounts receivable\u00a0 21,500\u00a0\u00a0\u00a0 32,000\u00a0\u00a0Allowance for doubtful accounts\u00a0\u00a0\u00a0 $3"},"content":{"rendered":"<p>The post-closing trial balances of two proprietorships on January 1, 2017, are presented below.<\/p>\n<p>Sorensen and Lucas decide to form a partnership, Solu Company, with the following agreed upon valuations for noncash assets.<\/p>\n<p>All cash will be transferred to the partnership, and the partnership will assume all the liabilities of the two proprietorships. Further, it is agreed that Sorensen will invest an additional $6,100&nbsp;in cash, and Lucas will invest an additional $23,200&nbsp;in cash.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>The post-closing trial balances of two proprietorships on January 1, 2017, are presented below. Sorensen and Lucas decide to form a partnership, Solu Company, with the following agreed upon valuations for noncash assets. All cash will be transferred to the <a href=\"https:\/\/www.benedictsol.com\/blogs\/the-post-closing-trial-balances-of-two-proprietorships-on-january-1-2017-are-presented-below-sorensen-company-lucas-company-dr-cr-dr-cr-cash\/\" class=\"read-more\">Read More &#8230;<\/a><\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[],"tags":[],"class_list":["post-49318","post","type-post","status-publish","format-standard","hentry"],"_links":{"self":[{"href":"https:\/\/www.benedictsol.com\/blogs\/wp-json\/wp\/v2\/posts\/49318","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.benedictsol.com\/blogs\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.benedictsol.com\/blogs\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.benedictsol.com\/blogs\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/www.benedictsol.com\/blogs\/wp-json\/wp\/v2\/comments?post=49318"}],"version-history":[{"count":0,"href":"https:\/\/www.benedictsol.com\/blogs\/wp-json\/wp\/v2\/posts\/49318\/revisions"}],"wp:attachment":[{"href":"https:\/\/www.benedictsol.com\/blogs\/wp-json\/wp\/v2\/media?parent=49318"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.benedictsol.com\/blogs\/wp-json\/wp\/v2\/categories?post=49318"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.benedictsol.com\/blogs\/wp-json\/wp\/v2\/tags?post=49318"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}