Question
Raymundo Dolor and Efren Barillo formed a partnership with the following contribution R. Dolor contributed a parcel of land which cost his father P100,000 The
Raymundo Dolor and Efren Barillo formed a partnership with the following contribution
R. Dolor contributed a parcel of land which cost his father P100,000 The land has a fair market value of P150,000 when the land was inherited by him 3 years ago currently has a fair market value of P200,000 and Cash of P150,000
E. Barillo on the other hand contributed sufficient cash equal to 3/4 of dolor's capitalization
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Survey of Accounting
Authors: Carl S Warren
5th Edition
9780538489737, 538749091, 538489731, 978-0538749091
