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Accounting Homework question A sole proprietor, entered into

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Accounting Homework question:
A sole proprietor, entered into a partnership with another individual. His investment in the partnership included equipment that cost $32,000 when purchased. The equipment has a book value of $13,000 and a net agreed on value of $16,000. In the financial records of the partnership, this equipment and its accumulated depreciation should be recorded at:

a. $16,000 and $0 respectively
b. $13,000 and $0 respectively
c. $32,000 and $19,000 respectively
d. $16,000 and $3000 respectively
Submitted: 6 years ago.
Category: General
Expert:  Andy4712 replied 6 years ago.
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Customer: replied 6 years ago.
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