Orcajada invested in a partnership a parcel of land which cost his father P200,000. The land had a market value of P300,000 when Orcajada inherited it three years ago. Currently, the land is independently appraised at P500,000. The partners agreed that the value of the land at P450,000. The land should be recorded in the accounts of the partnership at Orcajada invested in a partnership a parcel of land which cost his father P200,000.The land had market value of P300,000 when Orcajada inherited it three years ago.Currently, the land is independently appraised at P500,000 even though Orcjada insistedthat he “woudn’t take P900,000 for it.”The land should be recorded in the accounts ofthe partnership at a.P300,000 b.P900,000 c.P500,000 d.P200,000
Orcajada invested in a
Orcajada invested in a partnership a parcel of land which cost his father P200,000.The land had market value of P300,000 when Orcajada inherited it three years ago.Currently, the land is independently appraised at P500,000 even though Orcjada insistedthat he “woudn’t take P900,000 for it.”The land should be recorded in the accounts ofthe partnership at
a.P300,000
b.P900,000
c.P500,000
d.P200,000
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