On December 1, 2020, ELDIAN and MARLEY formed a partnership, agreeing to share for profits and losses in the ratio of 2:3, respectively. ELDIAN invested a parcel of land that cost him P134,375. MARLEY invested P161,250 cash. The land was sold for P268,750 on the same date, three hours after formation of the partnership. How much should be the capital balance of ELDIAN right after formation?

On December 1, 2020, ELDIAN and MARLEY formed a partnership, agreeing to share for profits and losses in the ratio of 2:3, respectively. ELDIAN invested a parcel of land that cost him P134,375. MARLEY invested P161,250 cash. The land was sold for P268,750 on the same date, three hours after formation of the partnership. How much should be the capital balance of ELDIAN right after formation?

SWFT Corp Partner Estates Trusts

42nd Edition

ISBN:9780357161548

Author:Raabe

Publisher:Raabe

Chapter11: Partnerships: Distributions, Transfer Of Interests, And Terminations

Section: Chapter Questions

Problem 39P

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