On January 17, 2011, Brandon contributed $100,000 cash to the Brandon-Landon partnership for a one-half interest in
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Question:
1) Describe the consequences to Brandon and Landon and the partnership of the transactions described above.
2) Would the consequences be different if the $100,000 cash is distributed on March 13, 2013 instead of in 2011.
Related Book For
Advanced Financial Accounting
ISBN: 978-0137030385
6th edition
Authors: Thomas Beechy, Umashanker Trivedi, Kenneth MacAulay
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