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Compute the partner capital account to be credited

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Reference no: EM132815163

A partner invested into partnership a building with P2,500,000 carrying value. According to the professional appraiser, the fair market value of the building on the date of investment is P4,000,000. The related mortgage payable of P1,250,000 is assumed by the partnership.

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Problem 1: As a result of the above transaction, compute the partner's capital account to be credited in the partnership books.

Reference no: EM132815163

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