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A partner invests into a partnership a building with an original cost of $180,000 and accumulated depreciation of $80,000. This building has a $140,000 fair value. As a result of the investment, the partner's capital account will be credited for Group of answer choices

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Answer:

a. $140,000

Explanation:

Options are "a. $140,000 , b. $100,000, c. $180,000 , d. $240,000 "

Capital Account = Fair value of the asset (i.e. Partner's investment is valued on fair value)

Date    Account          Debit       Credit

           Building        $140,000

               Partner's capital         $140,000

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