Stella Bella invests personally owned equipment, which originally cost $ 30,000 and has accumulated depreciation of $ 6,000, in the Bella and Duck partnership. Both partners agree that the fair value of the equipment was $ 25,000. The entry made by the partnership to record Bella's investment should be

Question

Quizplus · Accepted Answer

The Answer of Stella Bella invests personally owned equipment, which originally cost $ 30,000 and has accumulated depreciation of $ 6,000, in the Bella and Duck partnership. Both partners agree that the fair value of the equipment was $ 25,000. The entry made by the partnership to record Bella's investment should be

Stella Bella Invests Personally Owned Equipment, Which Originally Cost