Question
Dave Krug contributed $2,200 cash along with inventory and land to a new partnership. The inventory had a market value of $4,400. The land had
Dave Krug contributed $2,200 cash along with inventory and land to a new partnership. The inventory had a market value of $4,400. The land had a market value of $7,400. The partnership also accepted a $4,200 note payable owed by Krug to a creditor. Prepare the partnerships journal entry to record Krugs investment.
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Auditing A Practical Approach
Authors: Robyn Moroney, Fiona Campbell, Jane Hamilton, Valerie Warren
1st Extended Canadian Edition
1118878418, 9781118878415
