Question
Kiwi King and Peach the dynamic duo of fruit royalty, decide to venture into the world of quirky partnerships and open up a unique establishment
Kiwi King and Peach the dynamic duo of fruit royalty, decide to venture into the world of quirky partnerships and open up a unique establishment called "The Fruity Throne Caf." They form "the Fruity Throne Caf is established as a general partnership on January 1, 2025. They agree to divide all profits and losses equally and work together to create a partnership agreement. Peach Queen contributes $50,000 cash to the partnership. In addition, because she is so queenly, she contributes the following additional assets to the partnership as well: Building - Fair (market) value on the date of the transfer - $113145, Net book value on Peach Queen's personal books - $27745.5, Original cost of asset for Peach Queen - $93142
- Land - Fair (market) value on the date of the transfer - $58641, Net book value on Peach Queen's personal books - $35795, Original cost of asset for Peach Queen - $41008
What is the ending balance in Peach's capital account after the initial contribution?
- Do not use commas or $ signs in your final answer.
- Round your final answer to the nearest dollar
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