On January 1, Bob contributed cash of $12,000 and Kim contributed office equipment that cost $10,000 but

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On January 1, Bob contributed cash of $12,000 and Kim contributed office equipment that cost $10,000 but was valued at $8,000 to the formation of a new partnership. Prepare the journal entry to form the partnership.

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Financial Accounting

ISBN: 978-0538476010

11th edition

Authors: Belverd E. Needles, Marian Powers

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Question Posted: Sep 10, 2014 11:47 AM

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On January 1, Bob contributed cash of $12,000 and Kim contributed office equipment that cost $10,000 but

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Financial Accounting

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