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What land should be recorded in the accounts of partnership

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Problem 1: Gaztambide invested in a partnership a parcel of land which cost her father P200,000. The land had a market value of P300,000 when Gaztambide inherited it three years ago. Currently, the land is independently appraised at P500,000 even though Gaztambide insisted that he "wouldn't take P900,000 for it."The land should be recorded in the accounts of the partnership at

Reference no: EM132620736

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