qbteachmt
Level 15
05-26-2023
11:07 AM
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"in this case I should give the joint venture K-1?"
All partners in a partnership get a K-1 for their ownership position in the entity.
"and the joint venture contribution was property and cash"
If that is considered a loan to the partnership, then the JV also gets repaid with interest.
"How will I make the JE for the joint venture company contribution?"
Don't you already have the Deposit of the Cash? You don't include it again in a JE.
And you didn't state which software you are using.
If this is homework, you should not be asking the internet.
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Don't yell at us; we're volunteers