What the total capital of the partnership

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Question - On this date, Juan's capital account shows a balance of P158,400. The following were agreed upon before the formation of the partnership: a. Prepaid expenses of P17,500 and accrued expenses of P5,000 are to be recognized. b. P5,000 of the outstanding accounts receivable of Juan is to be recognized as uncollectibles. c. Luna is to be credited with a one-third interest in the partnership and is to invest cash aside from the P50,000 worth of merchandise. What the total capital of the partnership?

Reference no: EM132918888

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