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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