Use the Following Information to Answer the Following Questions

question 171

Multiple Choice

Use the following information to answer the following questions. Izabelle and Marta are forming a partnership. Izabelle will invest a piece of equipment with a book value of $7,500 and a fair market value of $20,000. Marta will invest a building with a book value of $40,000 and a fair market value of $58,000.
What amount will be recorded to Marta's capital account ?

• A) $18,000
• B) $20,000
• C) $40,000
• D) $58,000

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Definitions:

Relative Frequency

The ratio of the number of times a particular event or value occurs to the total number of occurrences.

Online Text

Written content available on the internet, accessible through devices connected to the web.

Legends

Explanatory lists of symbols or colors used in charts, maps, or diagrams to help interpret data visualizations.

Series Of Data

A sequence of data points, typically measured and collected over intervals of time.