1.John and Eddie form a partnership on March 1, 2002 with the following investments: JohnEddie CashP10,000P35,000 Land...
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1.John and Eddie form a partnership on March 1, 2002 with the following investments:
JohnEddie
CashP10,000P35,000
Land 105,000
Furniture and fixtures35,000
John and Eddie agree to divide profits and losses in the ratio of 70:30, respectively, and to assume the P20,000 mortgage on the land of Eddie.If John is required to make his share in equity equal to 40% he must make an additional investment of:
a. P48,000b. P35,000c. P80,000d. P45,000
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