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Business, 22.05.2020 20:58 Rachaeltice8810

Dalworth and Minor have decided to form a partnership. Minor is going to contribute a depreciable asset to the partnership as her equity contribution to the partnership. The following information regarding the asset to be contributed by Minor is available:

Historical cost of the asset $276,000
Accumulated depreciation on the asset $140,000
Note payable secured by the asset and assumed by the partnership $118,000
Agreed-upon market value of the asset $245,000

Based on this information, Minor's beginning equity balance in the partnership will be:

a. $276,000
b. $158,000
c. $136,000
d .$127,000
e. $18,00

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Answers: 2

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