Business, 06.04.2020 20:23 jaleewoodyard1

Isis and Kelsey are forming a partnership. Isis will invest a piece of equipment with a book value of $7,500 and a fair market value of $18,000. Kelsey will invest a building with a book value of $40,000 and a fair market value of $44,000.
Required:
a. What amount will be recorded to Isis's capital account?

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Isis and Kelsey are forming a partnership. Isis will invest a piece of equipment with a book value o...