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How much should be recorded in monuz capital account

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Problem 1: On July 1,2013, Monuz and pardo form a partnership, agreeing to share profits and losses in the ratio of 4:6, respectively. Monuz contributed a parcel of land that cost him P25,000. Pardo contributed P50,000 cash. The land was sold for P50,000 on july 1,2013 four hours after formation of the partnership. how much should be recorded in monuz capital account on formation of the partnership

Reference no: EM132666376

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