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A partnership is often formed by the joining together of sole trader businesses. Assets other than cash and liabilities are sometimes contributed. If a depreciating

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A partnership is often formed by the joining together of sole trader businesses. Assets other than cash and liabilities are sometimes contributed. If a depreciating asset is brought into the partnership, it will be recorded in the partnership accounts (books) with: b. debit to asset only (as per the current market value) a. debit to asset and credit to accumulated depreciation (as per the partners' original accounts) d. debit to asset only (as per the carrying amount in the partners original accounts) c.debit to asset and credit to accumulated depreciation (as per agreed amounts) Identify where each of the following accounts would be reported on Insearch UTS's financial statement in a particular section. (Choices may be used more than once.) a. Statement of financial position - property, plant and equipment b. Statement of financial position - intangible assets C. Statement of financial position - current assets d. Statement of financial position - other assets e. Statement of comprehensive income-profit and loss section f. Statement of comprehensive income - comprehensive income section Depreciation expense F Gain on disposal of non-current asset F Building A Accumulated depreciation D Goodwill, copy right, patents B e. Statement of comprehensive income-profit and loss section f. Statement of comprehensive income - comprehensive income section Depreciation expense Gain on disposal of non-current asset F Building A Accumulated depreciation D Goodwill, copy right, patents B Prepaid Insurance Other Derivative Investments D F Exchange differences on translation of foreign operations Question 3 5/5 pts

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