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Which partner has the largest capital balance as of April

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Question - On April 30, 2020, Baba, Bebe and Bubu formed a partnership by combining their separate business proprietorships. Baba contributed cash of P150,000 Bebe contributed property with a P108,00, carrying amount a P120,000 original cost, and P240,000 fair value. The partnership accepted responsibility for P105,000 mortgage attached to the property. Bubu contributed equipment with a P90,000 carrying value, a P225,000 original cost, and P165,000 fair value. The partnership agreement specifies that profits and losses are to be shared equally but is silent regarding capital contributions. Which partner has the largest capital balance as of April 30, 2020?

Reference no: EM132626842

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