Bambi, Capital will be credited for
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
Problem 1Q
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Land was acquired at a cost of P150,000 in 2013. In June 2018, its current market value was P300,000 when this property was invested by Bambi in a real estate business. Attached to the property was an outstanding mortgage payable of P20,000. If the mortgage was assumed by the real estate business, Bambi, Capital will be credited for
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