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How much is the cash to be contributed by hilda

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Hilda and TIgreal are combining their separate business to form a partnership. Cash and non-cash assets are to be contributed for a total capital of P600,000. The non-cash assets to be contributed and the liabilities to be assumed are as follows:


     Hilda   Tigreal

BV     FV    BV        FV
Accounts receivable          40,000      40,000 
Merchandise inventory      60,000   100,000  40,000    50,000  
Equipment         120,000   90,000   80,000        100,000
Accounts payable  30,000   30,000   20,000   20,000

Partners' capital accounts are to be equal after all the contribution of assets and the assumption of liabilities.

Required:

Problem a. How much is the cash to be contributed by Hilda?

Problem b. How much is the total assets of the partnership?

Reference no: EM132624152

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