Reference no: EM131173668
Ryan Fuller, a sole proprietor, entered into partnership with another individual.
Fuller's investment in the partnership included equipment that cost $32,000 when it was 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 $3,000, respectively.
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