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What the average capital balance at the end for ling is

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Problem 1: Carl and her very close associate Ling formed a partnership on January 1, 2019 with Carl contributing P16,000 cash while Ling contributing equipment with a book value of P6,400 and a fair value of P4,800 and inventory items with a book value of P2,400 and a fair value of P3,200. During 2019, Ling made additional investments of P1,600 on June 1 and on Sept. 1, he withdrew P4,000. Carl had no additional investments or withdrawals during the year. The average capital balance at the end of 2019 for Ling is __________________.

a. P7,200
b. P8,000
c. P8,800
d. P9,600

Reference no: EM132713283

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