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122 Dalworth and Minor have decided to form a partnership. Minor is going to contribute a depreciable asset to the partnership as her equity contribution
122 Dalworth and Minor have decided to form a partnership. Minor is going to contribute a depreciable asset to the partnership as her equity contribution to the partnership. The following information regarding the asset to be contributed by Minor is available: Skipped Historical cost of the asset $ 86,000 Accumulated depreciation on the asset $ 45,000 Note payable secured by the asset* $29,000 Agreed-upon market value of the asset $50,000 Based on this information, Minor's beginning equity balance in the partnership will be: Multiple Choice $86,000 $21,000 $41,000 $29,000 O $50,000
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