B and s formed a partnership. B contributed $8,000 cash and a used truck that originally cost $35,000 and had accumulated depreciation of $15,000. The truck's fair value was $16,000, S contributed a new Building costing $40,000 has a fair value off $55,000 What is the total capital that would recorded to B partner Select one: a. 24,000 b. 28,000 C. 55,000 d. 43,000 on 1/1/2017 Assume that Home Corp. acquired 25% of the ordinary shares of South Corp for $300,000 During 2017, South Corp. reported net income of $160,000 and paid total dividends $60,000. If Home uses the equity method to account for its investment, the debt side in the journal entry to record gain from investment account on December 31, 2017, will be Select one: a. investment 40,000 b. investment 160,000 c. cash 40,000 d. cash 160,000