In recording the initial investment in the new partnership of X, she contributed her personal computer with a cost of P 800,000 with an accumulated depreciation of P 200,000 after 5 years of use with no residual value. The said computer was accepted to have an agreed 10 year useful life. How much will be credited to X capital account?
In recording the initial investment in the new partnership of X, she contributed her personal computer with a cost of P 800,000 with an accumulated depreciation of P 200,000 after 5 years of use with no residual value. The said computer was accepted to have an agreed 10 year useful life. How much will be credited to X capital account?
Chapter15: Partnership Accounting
Section: Chapter Questions
Problem 5MC: Chani contributes equipment to a partnership that she purchased 2 years ago for $10,000. The current...
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In recording the initial investment in the new partnership of X, she contributed her personal computer with a cost of P 800,000 with an accumulated depreciation of P 200,000 after 5 years of use with no residual value. The said computer was accepted to have an agreed 10 year useful life. How much will be credited to X capital account?
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