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QUESTION 2 2. Fred, Jack and Mona formed a partnership with each partner contributing the following assets: Fred Jack Mona Book Value Fair Value Book

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QUESTION 2 2. Fred, Jack and Mona formed a partnership with each partner contributing the following assets: Fred Jack Mona Book Value Fair Value Book Value Fair Value Book Value Fair Value Cash $1,000 $1,000 $900 $500 $3,000 $3,000 Accounts Pay 200 200 100 100 . Equipment 1,800 2,000 2,800 3,000 5,000 4,800 What is Mona's capital balance after the formation of the partnership? A. $8,000 B. $7,800 C. $3,800 D.$3,400

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