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What amount should be recorded to hannah capital account

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Question - Hannah Johnson contributed equipment, inventory, and $54,000 cash to a partnership. The equipment had a book value of $29,100 and a market value of $33,600. The inventory had a book value of $57,600 but only had a market value of $19,200 due to obsolescence. The partnership also assumed a $17,500 note payable owed by Hannah that was originally used to purchase the equipment. What amount should be recorded to Hannah's capital account?

Reference no: EM133052653

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