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What amount should be recorded to Hannah capital account

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Question - Hannah Johnson contributed equipment, inventory, and $59,400 cash to a partnership. The equipment had a book value of $26,600 and a market value of $35,700. The inventory had a book value of $50,200 but only had a market value of $15,200 due to obsolescence. The partnership also assumed a $14,700 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: EM133106184

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