Question: Multiple Choice Question 64 A partner invests into a partnership a building with an original cost of $360500 and accumulated depreciation of $159100. This building

Multiple Choice Question 64 A partner invests into a partnership a

Multiple Choice Question 64 A partner invests into a partnership a building with an original cost of $360500 and accumulated depreciation of $159100. This building has a $279400 fair value. As a result of the investment, the partner's capital account will be credited for $360500 $480800. $279400. $201400 Click if you would like to Show Work for this question: Open Show Work

Step by Step Solution

There are 3 Steps involved in it

1 Expert Approved Answer

Step: 1 Unlock blur-text-image

Question Has Been Solved by an Expert!

Get step-by-step solutions from verified subject matter experts

Step: 2 Unlock

Step: 3 Unlock

Students Have Also Explored These Related Accounting Questions!

Multiple Choice Question 64 A partner invests into a partnership a building with an original cost of $359000 and accumulated depreciation of $160700. This building has a $279200 fair value. As a...

RESOURCES CALCULATOR FULL SCREEN PRINTER VERSION 4 BACK NEXT Question 9 A partner invests into a partnership a building with an original cost of $360900 and accumulated depreciation of $159900. This...

1)A general partner in a partnership (a) is liable for partnership liabilities only to the extent of that partner's capital equity. (b )is always the general manager of the firm. (c) is the partner...

5) Limited partnerships (a)guarantee that a partner will get back his original investment. (b)must have at least one general partner. (c)guarantee that a partner will receive a return. (d)are limited...

7. A contingency that is remote A) should be disclosed in the financial statements. B) must be accrued as a loss. C) does not need to be disclosed. D) is recorded as a contingent liability 8. A...

Izabelle and Marta are forming a partnership. Izabelle will invest a piece of equipment with a book value of $5,000 and a fair market value of $15,000. Marta will invest a building with a book value...

1- Partners Ana, Beth, and Cathy have capital account balances of $90,000 each. The income and loss ratio is 5:2:3, respectively. In the process of liquidating the partnership, noncash assets with a...

Question 2 0/2 poin A partner invests into a partnership a building with an original cost of $360,000 and accumulated depreciation of $160,000. This building has a $280,000 fair value. As a result of...

help with studying pls Mary Patricia's capital statement reveals that her drawings during the year were $50600. She made an additional capital investment of $24900 and her share of the net loss for...

Time left 0:39:04 Question 35 Not yet answered Marked out of 1.00 P Flag question If common stock is issued for an amount greater than par value, the excess should be credited to a. Legal Capital. b....

There are three major sources of unsecured short- term credit other than accrued wages and taxes. List and discuss the distinguishing characteristics of each.

At March 31, 2010, the end of the first year of operations at Jaryd, Inc., the firms accountant neglected to accrue payroll taxes of $4,800 that were applicable to payrolls for the year then ended....

Question content area top Part 1 Which of the following is a limitation of the direct write - off method of accounting for uncollectibles? Question content area bottom Part 1 A . The direct write -...

a=2 b= 0 c= 2 d=0 e=0 f=9 g=3 5. Draw the Network diagram for the following project. Estimate the Earliest start time and Latest finish time for each activity. If every day it cost 200 rials for this...