total capital of the partnership after the formation
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
Problem 1Q
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he partnership of A and B was formed on March 31, 2021. On this date, A invested P50,000 cash and office equipment valued at P30,000. B invested P70,000 cash, merchandise valued at P100,000, and furniture valued at P100,000 subject to a notes payable of P50,000 which the partnership did not assume. The partnership provides that A and B shares
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