Billy, Hughie, and Annie form a partnership where each partner will have an equal share to start. Billy contributes $50,000 in cash, Hughie contributes $80,000 in equipment, and Annie contributes $10,000 in cash and brings to the table expertise that the partners agree is worth $20,000, and choose to account for the value of this expertise using the goodwill method. Immediately after formation, Annie's capital account would reflect a balance of?

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To determine Annies capital account balance immediately after the format... View the full answer