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Who among the partners has the smallest capital contribution

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Problem 1: On September 1, 20X2, Tanya, Cecille, and Marie formed a partnership by combining their separate  business proprietorships. Tanya contributed cash of P50,000. Cecille contributed property with P48,000  carrying amount, P56,000 original cost, and P45,000 fair value. The said property has an attached mortgage  of P10,000, which will be assumed by the partnership. Marie Contributed a piece of equipment with P50,000  carrying amount, P85,000 original cost, and P45,000 fair value. It was stated in the Articles of Partnership  that profits and losses are to be shared equally but is silent regarding capital contributions. Who among the partners has the smallest capital contribution?

Reference no: EM132829850

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