Assume that Partner Z transferred to the partnership assets with a fair value of $81,000. How would the admission of Partner Z be recorded if the partners agreed to revalue the XY Partnership's land?

Use the following information for the next FIVE items The following facts were available about the XY Partnership on January 1st2021 On that date, Partner Z was admitted and acquired a 30 percent interest in the partnership capital and profit and losses. Answer the following independent cases about the admission of Partner Z. Use the following information for the next FIVE items The following facts were available about the XY Partnership on January 1st2021 On that date, Partner Z was admitted and acquired a 30 percent interest in the partnership capital and profit and losses. Answer the following independent cases about the admission of Partner Z