Referring to Partnerships, how are contributions recorded?
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Referring to Partnerships, how are contributions recorded?
How are contributions recorded in a partnership business?
Assuming you mean investments made by a partner, the same way they're recorded for a sole proprietorship. It goes as a credit into their capital account. If it's cash, you're just debiting cash as with any cash receipt. If it's something other than cash, then you have to deal with fair market values or other agreed-upon values.
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