Byrd and Katt formed a partnership and agreed to divide initial capital equally, even though...
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Accounting
Byrd and Katt formed a partnership and agreed to divide initial capital equally, even though Byrd contributed $200,000 and Katt contributed $168,000 in identifiable assets. Under the bonus approach to adjust the capital accounts, Katt's unidentifiable asset should be debited for
A.) $92,000
B.) $32,000
C.)$16,000
D.)$0
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