Total agreed capital (P230,000/40%) Nora's interest P300,000 150,000 400,000 ( 100,000) 100,000 )Ĭash Property at Market Value Mortgage payable Equipment at Market ValueĬ Cash Merchandise inventory Computer equipment Liability Furniture and FixturesĪgr eed capital s, equal equal ly (P300,000/3) (P300,000/3) = d - Zero, because under the bonus method,Ĭash Inventory Building Equipment Mortgage payable Method, a transfer of capital is only required. Perla's capital Less: Non-cash asset contributed at market value Land P 70,000 Building 90,000 Mortgage Payable ( 40,000) ![]() ![]() ![]() Jose's capital should be credited for the market value of the computer contributed by him. La Partnership – Basic Considerations and FormationĬHAPTER 1 MULTIPLE CHOICE ANSWERS AND SOLUTIONS 1-1:
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