Accounting C and D form the CD, LLC even partnership. A contributed land with an adjusted basis of $50 and FMV of $100. D contributed equipment with an adjusted basis of $75 and FMV of $100. Immediately after this contribution, what is the balance in D's 704(b) capital account? $175 $75 $100
Accounting C and D form the CD, LLC even partnership. A contributed land with an adjusted basis of $50 and FMV of $100. D contributed equipment with an adjusted basis of $75 and FMV of $100. Immediately after this contribution, what is the balance in D's 704(b) capital account? $175 $75 $100
Chapter21: Partnerships
Section: Chapter Questions
Problem 8BCRQ
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Transcribed Image Text:Accounting
C and D form the CD, LLC even partnership.
A contributed land with an adjusted basis
of $50 and FMV of $100. D contributed
equipment with an adjusted basis of $75
and FMV of $100. Immediately after this
contribution, what is the balance in D's
704(b) capital account?
$175
$75
$100
$50
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