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(1) Ryan contributes equipment valued at $50,000 with an adjusted basis of $30,000 to the RST General Partnership for a 50% partnership interest. The equipment
(1) Ryan contributes equipment valued at $50,000 with an adjusted basis of $30,000 to the RST General Partnership for a 50% partnership interest. The equipment is encumbered by recourse debt of $15,000. 3) What if the partnership is a limited partnership, Ryan is the limited partner, and the debt is nonrecourse
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Accounting For Decision Making And Control
Authors: Jerold Zimmerman
7th Edition
0078136725, 9780078136726
