Austin Contributes His Computer Equipment to the Landscaping Partnership He

question 8

Multiple Choice

Austin contributes his computer equipment to the landscaping partnership he starts with Bentley.At what amount should the computer equipment be credited to Austin's partnership capital?

• A)The tax basis
• B)The fair value at the date of contribution
• C)Austin's original cost
• D)At the amount that Bentley contributes,with the assumption that they both contribute equally to the partnership

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