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- Maria and Jose formed a partnership on September 1, 2022. Maria contributed P1,260,000 cash and computer equipment that cost P540,000. The fair value
- Maria and Jose formed a partnership on September 1, 2022. Maria contributed P1,260,000 cash and computer equipment that cost P540,000. The fair value of the computer equipment is P360,000. Maria has notes payable to the computer of P120,000 to be assumed by the partnership. Maria is to have 60% capital interest in the partnership. Jose contributed P900,000 cash only. The partners agreed to share profits and losses equally. Maria should make an additional investment or withdrawal of?
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Modern Advanced Accounting In Canada
Authors: Hilton Murray, Herauf Darrell
7th Edition
1259066487, 978-1259066481
