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Sagot :
Answer:
d. $27,000.
Explanation:
In the context, it is given that Harley and Quick wants to form a partnership. For this, Harley contributes his depreciable asset as an equity contribution in the partnership.
The amount of market value of the asset that would be assumed by this partnership is = $45,000
The amount of note payable that is secured by the asset or the debt assumed = $18,000
Therefore, the equity balance in the partnership = market value of asset - the debt assumed by the partnership
= 45,000 - 18, 000
= 27,000
Hence, the equity balance is $ 27,000 in the partnership.
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