21.	O'Brien is investing in a partnership with Skanes. O'Brien contributes equipment that originally cost $21,000, has a carrying amount of $14,000, and a fair value of $16,000. The entry that the partnership makes to record O'Brien's initial contribution includes a
	A)	debit to Equipment for $14,000.
	B)	debit to Equipment for $21,000.
	C)	debit to Equipment for $16,000.
	D)	credit to Accumulated Depreciation for $7,000.

22.

The Cliff and Saha partnership agreement stipulates that profits and losses will be shared equally after salary allowances of $80,000 for Cliff and $40,000 for Saha. At the beginning of the year, Cliff's capital account had a balance of $80,000, while Saha's capital account had a balance of $70,000. Profit for the year was $100,000. The balance of Saha's capital account at the end of the year after closing is

A) $70,000. B) $40,000. C) $120,000. D) $100,000

23.	Mr. Manchester, Mr. Robertson, and Mr. Allison formed a partnership with a 4:2:1 partnership on profit. Mr. Robertson will receive what percentage of the profit at the end of the year?
	A) 20% B) 33% C) 50% D) 29%