Question
Ben and Same Jenkins formed a partnership. Ben contributed $9,000 cash and a used truck originally cost $35,000 and had accumulated depreciation of $20,000. The
Ben and Same Jenkins formed a partnership. Ben contributed $9,000 cash and a used truck originally cost $35,000 and had accumulated depreciation of $20,000. The trucks fair value was $13,000. Sam contributed a new storage garage. The garage had a fair value of $60,000. Record the transaction for the formation of the partnership.
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Study Guide With Working Papers, Chapters 1-9 For Heintz/Parrys College Accounting
Authors: James A. Heintz, Robert W. Parry
21st Edition
1285059379, 9781285059372
