Solution-How much is the balance in b capital account

How much is the balance in b capital account

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Problem 1: A and B formed a partnership. the partnership agreement stipulates that A shall contribute cash of P300,000 , Machinery in the amount of P250,000 and furniture and fixtures with a FMV of P100,000. on the other hand B will contribute cash of P700,000, Machinery of P750,000 and a building of P2,250,000. the building is subject to a mortgage loan of P800,000 which is to be assumed by the partnership, it was agreed further that A and B share profits and losses 30% and 70% respectively. On the date of formation how much is the balance in B's capital account?

Reference no: EM132633542

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How much is the balance in b capital account

Reference no: EM132633542

Reference no: EM132633542

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