Josh & Jake decide to organize a partnership, J&J Landscaping. Josh contributes cash of $4,000, equipment with a cost of $10,000 and $3,000 of accumulated depreciation, and accounts receivable of $2,500. Josh & Jake agree that the equipment has a fair value of $6,000 and the accounts receivable have a net realizable value of $1,000. 

How much will Josh's capital account be credited for?

Answer rating: 100% (QA)

ANSWER To determine Joshs capital account credit we need to calculate the total value of the assets ... View the full answer