SReising Contributed $48,000 in Cash Plus Equipment Valued at $73,000

question 107

Multiple Choice

S.Reising contributed $48,000 in cash plus equipment valued at $73,000 to the Reising Construction Partnership.The equipment had a book value of $65,000.The journal entry to record the transaction for the partnership would include a:

• A)Debit to Equipment for $73,000.
• B)Debit to Equipment for $65,000.
• C)Credit to S.Reising,Capital for $113,000.
• D)Credit to Common Stock for $121,000
• E)Credit to the Gain on Asset for $8,000.

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Definitions:

OCD

Obsessive-Compulsive Disorder (OCD) is characterized by the presence of persistent thoughts (obsessions) and repetitive behaviors (compulsions) that an individual feels compelled to perform.

Exposure

The state of being exposed to something (such as an infectious agent, a toxin, or stress) which may have effects on health or behavior.

Ritual Prevention

Intentionally refraining from maladaptive coping patterns. By doing so, the patient gradually and with repeated exposures experiences anxiety climb, peak, and then subsidence.

Treatment

The management and care of a patient to combat a disease or disorder, including medical, psychological, and alternative methods.