Logo
Home Study Material Contact Search
AI Chat FREE
  1. business
  2. accounting
  3. a partner invests into a partnership a building wi

A partner invests into a partnership a building with a $70,000 carrying value and $90,000...

70.2K

Verified Solution

Question

Accounting

image
A partner invests into a partnership a building with a $70,000 carrying value and $90,000 fair market value. The related mortgage payable of $30,000 is assumed by the partnership. The entry to record the investment in partnership is a Building 90,000 Capital 90,000 70,000 b. Building Mortgage Payable Capital 30.000 40,000 90.000 C Capital Mortgage Payable Building 30.000 50.000 90,000 d Capital Mortgage Payable Building 35,000 35.000

Answer & Explanation Solved by verified expert
Get Answers to Unlimited Questions

Join us to gain access to millions of questions and expert answers. Enjoy exclusive benefits tailored just for you!

Membership Benefits:
  • Unlimited Question Access with detailed Answers
  • Zin AI - 3 Million Words
  • 10 Dall-E 3 Images
  • 20 Plot Generations
  • Conversation with Dialogue Memory
  • No Ads, Ever!
  • Access to Our Best AI Platform: Flex AI - Your personal assistant for all your inquiries!
Become a Member

Other questions asked by students

Q

A force of 60 lbs make an angle of 45° with the horizontal. Find its vertical...

Physics
Q

Jamil Hassan heads a newly formed project management team for a major international corporation. The team...

General Management
Q

Whirly corporation most recent income statement is shown below: Total Per Unit Sales (7,600 units) 243,200 32.00 Variable Expenses...

Accounting
Q

If E 2x then find volume charge density inside le cube 1 8 85 x...

Physics
Q

Find a basis B for the span of the given vectors HOO B 0 0

Basic Math
Q

You roll a standard 6-sided die. Find the expected value for each experiment.(a) You earn...

Basic Math
Q

of tires Brand 1 and Brand 2 Though the two brands have been comparable in...

Statistics
Q

Capwell Corporation uses a periodic inventory system, the balance sheet approach to estimate uncollectibles, and...

Accounting
Q

Break-Even Sales Under Present and Proposed Conditions Portmann Company, operating at full capacity, sold 1,000,000...

Accounting
Q

employment respondeat superior ...

Accounting
Q

Exercise 2-3 (Algo) Computing Total Job Costs and Unit Product Costs Using a Plantwide Predetermined...

Accounting
Q

I. Consider the following three government bonds: Bond Bond Price Coupon Rate Maturity X $1,034.98...

Finance