. The partnership of Perez and Reyes was formed on March 31, 2019. At that date, Perez invested P50,000 cash and office equipment valued at P30,000. Reyes invested P70,000 cash, merchandise valued at P110,000, and furniture valued at P100,000, subject to a notes payable of P50,000 (which the partnership assumes). The partnership provides that Perez and Reyes share profits and losses 25:75, respectively. The agreement further provides that the partners should initially have, an equal interest in the partnership capital. Under the goodwill method, what is the total capital of the partners after the formation?<\/p>
310,000<\/p>
510,000<\/p>
390,000<\/p>
460,000<\/p>", "transcribed_text": "", "related_book": { "title": "Accounting Principles", "isbn": "1119491630, 978-1119491637, 978-0470534793", "edition": "10th Edition", "authors": "Jerry J. Weygandt, Paul D. Kimmel, Donald E. Kieso", "cover_image": "https:\/\/dsd5zvtm8ll6.cloudfront.net\/si.question.images\/book_images\/54.jpg", "uri": "\/textbooks\/accounting-principles-10th-edition-54", "see_more_uri": "" }, "free_related_book": { "isbn": "1447171675", "uri": "\/textbooks\/recent-trends-in-the-condition-monitoring-of-transformers-theory-implementation-and-analysis-1st-edition-9781447171676", "name": "Recent Trends In The Condition Monitoring Of Transformers Theory Implementation And Analysis", "edition": "1st Edition" }, "question_posted": "2024-06-29 02:34:01", "see_more_questions_link": "\/study-help\/questions\/business-marketing-2022-June-08", "step_by_step_answer": "The Answer is in the image, click to view ...", "students_also_viewed": [ { "url": "\/show-if-f-is-polynomial-of-degree-3-or-lower", "description": "Show that if f is a polynomial of degree 3 or lower, then Simpsons Rule gives the exact value of b f(x) dx.", "stars": 3 }, { "url": "\/study-help\/psychology\/what-research-background-do-you-have-1980591", "description": "What research background do you have?", "stars": 3 }, { "url": "\/bowman-corporation-is-considering-an-investment-in-specialpurpose-equipment-to-enable", "description": "Bowman Corporation is considering an investment in special-purpose equipment to enable the company to obtain a five-year government contract for the manufacture of a special item. 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There are seven factors that should be addressed when making the business case for a...", "stars": 3 } ], "next_back_navigation": { "previous": "\/study-help\/questions\/in-ferdinand-de-saussures-theory-of-the-sign-the-relationship-4449727", "next": "\/study-help\/questions\/jordan-is-chasing-after-a-girl-he-begins-by-moving-4449729" }, "breadcrumbs": [ { "name": "Study help", "link": "https:\/\/www.solutioninn.com\/study-help\/questions-and-answers" }, { "name": "Business", "link": "https:\/\/www.solutioninn.com\/study-help\/questions-and-answers\/business" }, { "name": "Accounting", "link": "https:\/\/www.solutioninn.com\/study-help\/questions\/business-accounting" }, { "name": ". The partnership of Perez and Reyes was formed on March 31,", "link": "https:\/\/www.solutioninn.com\/study-help\/questions\/the-partnership-of-perez-and-reyes-was-formed-on-4449728" } ], "skill_details": { "skill_id": "9", "skill_name": "Accounting", "parent_id": "1" } }d": "1" } }