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3. On July 1, 2008 Monuz and Pardo form a partnership, agreeing to partnership profits and losses in the ratio of 4:6, respectively. Monuz contributed
3. On July 1, 2008 Monuz and Pardo form a partnership, agreeing to partnership profits and losses in the ratio of 4:6, respectively. Monuz contributed a parcel of land that cost him P25,000. Pardo contributed P50,000 cash. The land wsa sold dfor P50,000 on July 1, 2008 four hours after formation of the partnership? a. P10.000 C. P25.000 b. P20,000 d. P50.000
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Contemporary Auditing Real Issues And Cases
Authors: Michael C. Knapp
7th Edition
0324658052, 978-0324658057
