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NEED SOLUTION March 1, 2018 by investing the following assets: Luna: Cash P30,000 Furniture 200,000 Lina: Inventory P90,000 Equipment 160,000 The agreement between Luna and
NEED SOLUTION
March 1, 2018 by investing the following assets: Luna: Cash P30,000 Furniture 200,000 Lina: Inventory P90,000 Equipment 160,000 The agreement between Luna and Lina provides that profits and losses are to be divided 40% and 60% respectively, and that the partnership is to assume a liability on the equipment of P60,000. The partnership further agreed that Lina is to receive credit equal to his profit and loss ratio and will invest or withdraw depending on the circumstances. How much cash is to be withdrawn by LinaStep by Step Solution
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