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Legaspi, Molina and Nelon are new CPAs and are to form a partnership. Legaspi is to contribute cash of P50,DOD and his computer originally costing

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Legaspi, Molina and Nelon are new CPAs and are to form a partnership. Legaspi is to contribute cash of P50,DOD and his computer originally costing P60,000 but has a second hand value of P25,00G. Molina is to contribute cash of P30,000. Nelon, whose family is selling computers, is to contribute cash of P25,000 and a brand new computer plus printer with a regular price in the market at P60,0DO but which cost their family's dealership P50,0DO. Partners agree to share prots equally. 15.What would be the totai initiai measurement basis of the assets contributed to the partnership

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