Question: 3. eorge and Maria enter into a partnership to be owned 50% by each. George contributes the assets of his existing business consisting of the

3. eorge and Maria enter into a partnership to be owned

3. eorge and Maria enter into a partnership to be owned 50% by each. George contributes the assets of his existing business consisting of the following' G Fair Value Basis $10,000 Building $50,000 $40,000 Equipment $25.000 $20,000 $85,000 Cash $10,000 $70,000 Total How much must Maria contribute in cash? a. $85,000 b. $10,000 $70,000 d. $76,000

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