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    Fundamental Accounting Principles Study Set 6
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    Exam 12: Accounting for Partnerships
  5. Question
    MacArthur,Strong,and Viet Form a Partnership
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MacArthur,Strong,and Viet Form a Partnership

Question 111

Question 111

Essay

MacArthur,Strong,and Viet form a partnership.MacArthur contributes $190,000 cash and Strong contributes $200,000 in cash.Viet contributes equipment worth $215,000.Prepare the single journal entry to record the formation of this partnership.

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