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Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
Problem 1Q
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Question
Barrot and Bañaga are partners with capital balances of P400,000 and P260,000 respectively. They share
losses
for a 1/5 interest based contributions after asset revaluation. If Barrot was given P418,000 capital credit upon
admission of Bartolav. What is the amount of investment made by Bartolay?
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