. anount of highest capital contributed by one partner

. ammount of additional cash to be contributed by two partners with lower capital balances

. total cash of partnership after the additional contributuon if there is any

total partnership assets after the additional contribution

32

Jenny, Mar, and Rie formed a partnership by combining their separate businesses with the following statements of financial position: Jenny Mar Rie Cash P90,000 P 5,000 P60,000 Accounts receivable 45,000 20,000 75,000 Allowance for doubtful accounts 3,000 2.000 5,000 Land 80,000 Building 100,000 Accum. Depreciation - building 50,000 Mortgage payable - bank 60,000 Owner's capital 132,000 93,000 130,000 They agreed that the mortgage payable shall be absorbed by the Determine the ar partnership and that the following assets should be revalued at their respective fair market values: Accounts receivable at 90%. Land at 120% Building at 70% They also agreed that their capital balances should be equal in amount and profit and loss should be divided equally. Any partner whose capital balance is not equal to that of the partner with the highest capital balance after adjustments shall give additional cash contribution contributed by one partner