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Following the establishment of ABC Ventures, with Alice injecting $100,000 in cash and $50,000 worth of equipment, and Bob contributing $80,000 in cash and $30,000
Following the establishment of ABC Ventures, with Alice injecting $100,000 in cash and $50,000 worth of equipment, and Bob contributing $80,000 in cash and $30,000 worth of inventory, develop a detailed balance sheet for the partnership after formation, outlining the composition of assets, potential liabilities, and the partners' equity, illustrating the financial position of the partnership post-formation.
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