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

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

Sam Kirby Invests Personally Owned Equipment, Which Originally Cost $30,000