As part of the initial investment, ray blake contributes equipment that had originally cost $125,000 and on which accumulated depreciation of $100,000 has been recorded. if similar equipment would cost $150,000 to replace and the partners agree on a valuation of $29,000 for the contributed equipment, what amount should be debited to the equipment account

Given:
Original cost of contributed equipment : 125,000

Accumulated depreciation of contributed : 100,000

Value of similar equipment : 150,000

Agreed upon valuation of contributed equipment : 29,000

The amount that should be debited to the equipment account is 29,000.

It is the current value of the contributed equipment as agreed upon by the partners.

Some disadvantages to leasing a car is that you are counting on someone to give you money every week or month depending on what you decided and if they don't have all of it well what if you needed that money now you as well have to pay not in full. a disadvantages to purchasing a new vehicle is if it is used then not all the time will absolutely everything work. its almost like a trail and era. although if it is a new car they will try to though all these specials and deals at you in your lease and it can be very overwhelming if you are not use to it.   

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