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What amount should robert capital account be recorded

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Question - Robert Johnson contributed equipment, inventory, and $42,000 cash to the partnership. The equipment had a book value of $25,000 and market value of $28,000. The inventory has a book value of $50,000, but only had a market value of $15,000. due to obsolescence. The partnership also assumed a $12,000 note payable owed by Robert that was originally used to purchase the equipment.

What amount should Robert's capital account be recorded.

a. 85,000

b. 73,000

c. 117,000

d. 105,000

Reference no: EM131772654

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