Question: Sampson and Stevens form a partnership. Sampson contributes land with a book value of $50,000 and a fair market value of $65,000. Sampson also contributes

Sampson and Stevens form a Sampson contributes land with a book value of $50,000 and a fair market value of $65,000. Sampson also contributes equipment with a book value of $52,000 and a fair market value of $57,000. The assumes a $20,000 mortgage on the land. What should be the balance in Sampson’s capital account upon formation of the

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