menu-iconExamlexExamLexServices

Discover

Ask a Question
  1. All Topics
  2. Topic
    Business
  3. Study Set
    Accounting Study Set 1
  4. Exam
    Exam 15: Partnerships: Formation,operation and Reporting
  5. Question
    When an Incoming Partner Is Given Credit for a Capital
Solved

When an Incoming Partner Is Given Credit for a Capital

Question 33

Question 33

Short Answer

When an incoming partner is given credit for a capital contribution greater than the fair value of the net identifiable assets contributed,the difference is recorded as g____________.

Correct Answer:

verifed

Verified

Unlock this answer now
Get Access to more Verified Answers free of charge

Related Questions

Q29: As compared to a company with a

Q30: It is agreed in the partnership agreement

Q31: When a partner makes an advance or

Q32: If partners A,B and C share profits

Q34: The major difference in financial reporting for

Q35: When forming a partnership the non-cash assets

Q36: The relationship that exists between people carrying

Q37: Loans by partners to the partnership are

Q39: Hodges and Burton formed a partnership with

Q51: The legislation with the most significant influence

Examlex

ExamLex

About UsContact UsPerks CenterHomeschoolingTest Prep

Work With Us

Campus RepresentativeInfluencers

Links

FaqPricingChrome Extension

Download The App

Get App StoreGet Google Play

Policies

Privacy PolicyTerms of ServiceHonor CodeCommunity Guidelines

Scan To Download

qr-code

Copyright © (2025) ExamLex LLC.

Privacy PolicyTerms Of ServiceHonor CodeCommunity Guidelines