Examlex
When a new partner pays a bonus to join an existing partnership, the bonus amount is allocated to the capital accounts of the existing partners.
Book Value
The value of an asset according to its balance sheet account balance, taking into account the cost of the asset minus depreciation.
Fair Value
The estimated market price of an asset or liability in an orderly transaction between market participants at the measurement date.
Partial Equity Method
An accounting approach used when a company holds a significant influence, but not control, over an investee, recognizing a portion of the investee's income proportional to ownership stake.
Equipment Account
An account on the balance sheet representing the cost of equipment a company owns.
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