Rodriguez and Ying Start a Partnership Business on July 1

question 80

Multiple Choice

Rodriguez and Ying start a partnership business on July 1, 2014. Rodriguez brings in cash worth $4,000, furniture with a current market value of $50,000, payables with a current market value of $15,000 and equipment with a current market value of $26,000. Which of the following is the correct journal entry to record the above transaction?

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Definitions:

Global Warming

Is the gradual worldwide increase in average surface temperature.

Steam Engine

A heat engine that performs mechanical work using steam as its working fluid.

Invented

The process of creating or designing something that did not previously exist, often referring to the conception of new ideas, devices, or methods.

Invention Hazards

The potential risks or unintended negative consequences associated with the creation and implementation of new inventions or technologies.