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Gleason invested $90,000 in the James and Kirk Partnership for ownership equity of $90,000. Prior to the investment, land was
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Answer #1
a
Land 225000 =425000-200000
     James, Capital 75000 =225000*1/3
     Kirk, Capital 150000 =225000*2/3
b
Cash 90000
      Gleason, Capital 90000
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