Question
As a part of the initial investment in forming a partner contributes office equipment that has a cost of $20,000 and accumulated depreciation of $12,500.
As a part of the initial investment in forming a partner contributes office equipment that has a cost of $20,000 and accumulated depreciation of $12,500. If the partners deem the market value to be $9,000, what amount should be debited to the equipment account?
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Answer Date General Journal Debit Credit Equipment 9000 Partners capital ...
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Accounting
Authors: Carl s. warren, James m. reeve, Philip e. fess
21st Edition
978-0324400205, 324225016, 324188005, 324400209, 9780324225013, 978-0324188004
