(Answered) Question journalizing partners investments and withdrawals

Accounting

Question: Journalizing partners' investments and withdrawals Cash receipts, cash payments, and general journals are given in the Working Papers. Your instructor will guide you through the following examples. B and B Diving completed the following transactions during March of the current year. Transactions: Mar.

1. Received cash of $22,000.00 and office supplies valued at $3,000.00 from partner, Robert Billings, as an initial investment. Receipt No. 1. 1. Received cash from partner, Susan Billings, as an initial investment, $25,000.00. Receipt No.

2. 30. Susan Billings, partner, withdrew cash for personal use, $600.00. Check No. 23. 30. Robert Billings, partner, withdrew merchandise for personal use, $600.00. Memorandum No. 4.

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