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Ronch [10]
2 years ago
6

Maxwell and Smart are forming a partnership. Maxwell is investing a building that has a market value of $84,000. However, the bu

ilding carries a $52,000 mortgage that will be assumed by the partnership. Smart is investing $28,000 cash. The balance of Maxwell's Capital account will be:
Business
1 answer:
joja [24]2 years ago
5 0

Answer:

$32,000

Explanation:

Calculation for the balance of Maxwell's Capital account

Using this formula

Assets =Liabilities-Owner's Equity

Where,

Liabilities =$84,000

Owner's Equity=$52,000

Let plug in the formula

Assets =$32,000

Therefore the balance of Maxwell's Capital account will be $32,000

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Answer:

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Explanation:

Basically there are three types of activities:

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Answer:

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Explanation:

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Hope it helped...Please mark brainliest. Have a nice day!

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