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How much should be the initial total capitalization

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Question - On May 1, 2022, Carlo and Jamie formed a partnership agreeing to share profits and losses in the ratio of 2:3 respectively. Jamie invested a parcel of land that cost her P250,000. Carlo invested P300,000 cash. The land was sold for P500,000 on the same date, three hours after formation of the partnership. How much should be the initial total capitalization of the partnership?

Reference no: EM133182423

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