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

question 132

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 not assumed by the partnership.The entry to record the investment in partnership is:

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Definitions:

Inflammation

A biological response to harmful stimuli, marked by redness, swelling, pain, and sometimes loss of function.

Cytotoxic T Cells

A type of white blood cell that kills cancer cells, cells that are infected (particularly with viruses), or cells that are damaged in other ways.

Thoracic Duct

The largest lymphatic vessel in the body, responsible for transporting lymph and chyle from the lymphatic system into the bloodstream.

Subclavian Vein

A large vein in the upper chest, under the collarbone, that receives blood from the arm and parts of the neck and chest.