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dybincka [34]
3 years ago
15

Ben and Sam Jenkins formed a partnership. Ben contributed $8,000 cash and a used truck that originally cost $35,000 and had accu

mulated depreciation of $15,000. The truck’s fair value was $16,000. Sam, a builder, contributed a new storage garage. His cost of construction was $40,000. The garage has a fair value of $55,000. What is the combined total capital that would be recorded on the partnership books for the two partners?
Business
1 answer:
Airida [17]3 years ago
3 0

Answer:

The combined total capital that would be recorded on the partnership books for the two partners is $79,000

Explanation:

Partnership : In partnership, there are two or more members who are called partners which are ready to share the profit or loss percentage according to their agreed ratio

The combined total capital for both partners is shown below:

= Contributed cash + truck fair value + garage fair value

= $8000 + $ 16,000 + $55,000

= $79,000

The other cost like purchase price, depreciation, construction cost is irrelevant for computation. Thus, these cost will not be considered.

Hence, the combined total capital that would be recorded on the partnership books for the two partners is $79,000

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Answer:

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Stan, an air conditioning and heating technician, files a suit against Temp-Set Corporation, alleging that its thermostats are u
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Stan, an air conditioning and heating technician, files a suit against Temp-Set Corporation, alleging that its thermostats are unreasonably dangerous due to the possibility of electrical shock.Temp-Set's best defense is most likely Knowledgeable User.

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6 0
3 years ago
Affluenza" is a condition where: select one:
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In their relationship, neither bette nor sam wants to take control or make decisions. this type of relationship is known as a co
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When the bond sells at par, the implicit €/$ exchange rate at maturity of a Euro/U.S. dollar dual currency bond that pays $651.2
Anna007 [38]

Answer:

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Explanation:

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