Joint venture acquisition and cap ex for 33.33% partner

acquisition costs:
If I have a joint venture with a partner who brought in equity to close escrow, how do I book the transaction…ie they contribute total of ~ $50,000 for COE, construction costs. In return they are receiving 33.33% ownership in the venture.

I was able to add their ownership, but how do I give them credit for their contributions in acquisition and capital expense of the project?

The best way here is to issue shares. If you don’t have an LLC or corp already set up it’s only a few hundred dollars. You can set your price per share arbitrarily, something like $1,000 per share and then issue 500 shares for the partner’s contribution and in the future if you have someone add more contribution you just do another share addition.