Question
TB 11-40 Belinda Kim Belinda Kim contributed $6,000 in cash plus office equipment with a fair value of $23,000 to the BK Partnership. In addition,
TB 11-40 Belinda Kim
Belinda Kim contributed $6,000 in cash plus office equipment with a fair value of $23,000 to the BK Partnership. In addition, the partnership assumed a $5,000 note payable. The journal entry to record the transaction is
Multiple Choice
-
B. Kim, Capital 5,000 Note Payable 24,000 Cash 6,000 Office Equipment 23,000 -
Cash 24,000 B. Kim, Capital 24,000 -
B. Kim, Capital 29,000 Cash 6,000 Office Equipment 23,000 -
Cash 6,000 Office Equipment 23,000 B. Kim, Capital 29,000 -
Cash 6,000 Office Equipment 23,000 Note Payable 5,000 B. Kim, Capital 24,000
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Cost-Benefit Analysis
Authors: Euston Quah, E.J. Mishan
5th Edition
0415350379, 9780415350372
