Martin contributes cash of $24,000, and Steven contributes office equipment that cost $20,000 but is valued at

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Martin contributes cash of $24,000, and Steven contributes office equipment that cost $20,000 but is valued at $16,000 to the formation of a new partnership. Prepare the journal entry to form the partnership.

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Principles of Accounting

ISBN: 978-1133626985

12th edition

Authors: Belverd E. Needles, Marian Powers and Susan V. Crosson

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Question Posted: Mar 26, 2014 09:04 AM

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Martin contributes cash of $24,000, and Steven contributes office equipment that cost $20,000 but is valued at

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Cash 24000 Office Equipment 16000 Martin ...View the full answer

Principles of Accounting

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