Zach Has Bought Biannca's Interest in the A&B Partnership for a $120,000

question 60

Multiple Choice

Zach has bought Biannca's interest in the A&B Partnership for a $120,000 direct payment to Biannca.Zach and Biannca's capital balances before the sale were $48,000 and $72,000,respectively.The entry to record the purchase of interest in partnership is:

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Definitions:

Power Pivot

An Excel feature that allows users to perform powerful data analysis and create sophisticated data models, integrating data from various sources.

PivotTable

A data summarization tool found in data visualization programs like Excel that allows users to reorganize and summarize selected columns and rows of data in a spreadsheet.

PV Function

In financial analysis, a function used to calculate the Present Value of a series of future payments or receivables, discounted at a given interest rate.

Investment

The allocation of resources, usually money, in the expectation of generating an income or profit.