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How much was the total investment of melina sanchez

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Melina Sanchez and Sixto Dantes decided to form a partnership. Melina Sanchez invested the following: Cash of P150,000, Land costing P500,000 with an fair value of P800,000; building, costing P600,000 with accumulated depreciation of P100,000 but with fair market value of P450,000, and mortgage note payable of P100,000. The mortgage payable is to be assumed by the partnership. Sixto Dantes invested cash to give him 1/5 interest in the partnership.

Problem 1: How much was the total investment of Melina Sanchez?

Problem 2: How much was the total investment of Sixto Sanchez?

Reference no: EM132864666

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