Question
Sally Smythe enters into a partnership by contributing the following: Cash $14,600; Accounts Receivable $4,100, Machinery which cost $2,600 and has a fair market value
Sally Smythe enters into a partnership by contributing the following: Cash $14,600; Accounts Receivable $4,100, Machinery which cost $2,600 and has a fair market value of $1,725; and accounts payable of $1,900. What amount will be recorded in her capital account? Multiple Choice $20,425 $21,300 $18,525 $19,400
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Managerial Accounting
Authors: Susan V Crosson, Belverd E Needles
9th Edition
0538742801, 9780538742801
