As part of the initial investment a partner con... - JAMB Accounting 1999 Question
As part of the initial investment, a partner contributes office equipment that originally cost N20,000 and on which provision for depreciation of N12,500 had been recorded. If the partners agree on a valuation of N9,000 for the equipment, what amount should be debited to the office equipment account?
A
N7,500
B
N9,000
C
N12,500
D
N20,000
correct option: b
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