Assume that John Smith and Jane Jones agree to form a

Last updated: 3/1/2024

Assume that John Smith and Jane Jones agree to form a partnership The contributions that each make are outlined below John s Contributions Cash 10 000 Law Books 15 000 Accounts Receivable 50 000 Allowance For Doubtful Accounts 10 000 Office Equipment 35 000 Accumulated Depreciation on Office Equipment 10 000 Accounts payable 15 000 An independent appraisal appraised the computer equipment at 25 000 Jane s Contributions Cash 25 000 Computer Equipment 25 000 Accounts Receivable 60 000 Allowance For Bad Debts 7 000 Accumulated Deprecation on computer Equipment 10 000 Accounts Payable 1 500 An independent appraisal appraised the computer equipment at 14 000 Required What is john smith s owner s equity of the partnershin