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Ben and Sam Jenkins formed a partnership. Ben contributed $8,000 cash and a used truck that originally cost $35,000 and

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Ben and Sam Jenkins formed a partnership. Ben contributed $8,000 cash and a used truck that originally cost $35,000 and had accumulated depreciation of $15,000. The truck's fair value was $16,000. Sam, a builder, contributed a new storage garage. His cost of construction was $40,000. The garage has a fair value of $55,000. What is the combined total capital that would be recorded on the partnership books for the two partners?

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Business Statistics a decision making approach

Business Statistics a decision making approach

ISBN: 978-0133021844

9th edition

Authors: David F. Groebner, Patrick W. Shannon, Phillip C. Fry

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Posted Date: September 11, 2020 02:37:20
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