As Part of the Initial Investment, Ray Blake Contributes Equipment

question 104

Multiple Choice

As part of the initial investment, Ray Blake contributes equipment that had originally cost $125,000 and on which accumulated depreciation of $100,000 has been recorded. If similar equipment would cost $150,000 to replace and the partners agree on a valuation of $29,000 for the contributed equipment, what amount should be debited to the equipment account?

• A) $29,000
• B) $150,000
• C) $125,000
• D) $100,000

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The strong and enduring beliefs and principles that the company uses as a foundation for its decisions

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A principle or cause that underlies the functioning and strategic objectives of an organization.

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The proactive management of people resources in an organization to achieve long-term business goals.