Question
Rocker and Willow are partners with capital balances of P30,000 and P70,000, respectively. Rocker has a 30% interest in profits and losses. At this time,
Rocker and Willow are partners with capital balances of P30,000 and P70,000, respectively. Rocker has a 30% interest in profits and losses. At this time, the partnership has decided to admit Rod and Marie as new partners. Rod contributes cash of P55,000 for a 20% interest in capital and 30% interest in profits and losses. Marie contributes cash of P10,000 and an equipment for a 25% interest in capital and 35% interest in profits and losses. If bonus amounting to P18,250 is given to the old partners, what is the value of equipment contributed by Marie?
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