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Compute the balance of Maxwell Capital account

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Question - Maxwell and Smart are forming a partnership. Maxwell is investing a building that has a market value of $88,000. However, the building carries a $48,000 mortgage that will be assumed by the partnership. Smart is investing $36,000 cash. Compute the balance of Maxwell's Capital account?

Reference no: EM132109491

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Compute the balance of Maxwell Capital account : Maxwell and Smart are forming a partnership. Maxwell is investing a building that has a market value of $88,000. Compute the balance of Maxwell Capital account
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