A Partner Invests into a Partnership a Building with a $50,000

question 129

Multiple Choice

A partner invests into a partnership a building with a $50,000 carrying value and $80,000 fair market value.The related mortgage payable of $25,000 is assumed by the partnership.The entry to record the investment in partnership is:

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Definitions:

Ergonomics

The scientific study aimed at improving the efficiency, safety, and comfort of people in their work environments by designing products and processes.

Industrial/Organizational Psychologist

A professional who applies psychological theories and principles to organizations, focusing on improving workplace productivity, employee behavior, and the overall work environment.

Nature-Nurture

The debate concerning the relative importance of an individual's inherited qualities versus personal experiences in determining or causing differences in physical and behavioral traits.

Heredity

The genetic conveyance of mental or physical traits across generations.