Question

if there is no written agreement as to the way income will be divided among partners

Fall 2019 Library Hours Monderhede f $7,500 and fair market value of $18.000, Calculator Use the information below to answer the question that follow Sandra and k ey are forming a purtres . Sandra i invest a piece of equipment with a book o will invest a bunding with a book value of $40,000 and ma k e of $40,000 What amount will be recorded to Sandra's capic ? Sa $15.000 Ob 2.500 c. $10.500 Od 35,500 ATTUITOTTA

Answer 1

Answer: a. $ 18,000.

The fair market value would be the value assigned to the equipment invested by Sandra in the partnership, and not its book value.

If there is no written agreement as to the way income will be divided among partners, income would be shared equally.