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C is corrent. As is the case with all entities, investments in the capital of a partnership should be measured at the fair market value of the assets contributed. In this case, the FV of the land would be measured by its sales price on the date of sale ($50,000) which is also the date of the partnership formation. Recording the land at Motta’s cost would result in the partners sharing the gain from the sale in accordance with their profit and loss ratio. This is not equitable since the gain accrued while the land was held by Motta.
A is incorrect. As is the case with all entities, investments in the capital of a partnership should be measured at the fair market value of the assets contributed.  In this case, the FV of the land would be measured by its sales price on the date of sale ($50,000) which is also the date of the partnership formation.  Recording the land at Motta’s cost would result in the partners sharing the gain from the sale in accordance with their profit and loss ratio.  This is not equitable since the gain accrued while the land was held by Motta. 
B is incorrect.  As is the case with all entities, investments in the capital of a partnership should be measured at the fair market value of the assets contributed.  In this case, the FV of the land would be measured by its sales price on the date of sale ($50,000) which is also the date of the partnership formation.  Recording the land at Motta’s cost would result in the partners sharing the gain from the sale in accordance with their profit and loss ratio.  This is not equitable since the gain accrued while the land was held by Motta.
D is incorrect. As is the case with all entities, investments in the capital of a partnership should be measured at the fair market value of the assets contributed.  In this case, the FV of the land would be measured by its sales price on the date of sale ($50,000) which is also the date of the partnership formation.  Recording the land at Motta’s cost would result in the partners sharing the gain from the sale in accordance with their profit and loss ratio.  This is not equitable since the gain accrued while the land was held by Motta.