On February 1, 2022, AA and BB formed a partnership and agreed to share profits in the ratio of 46 respectively AA contributed a laptop which cost him P68,000 and was estimated to have a value of P50.000 on date of formation. BB contributed cash of P250,000.   How tmuch is the capital account of BB upon formation of the partnership?

Principles of Accounting Volume 1
19th Edition
ISBN:9781947172685
Author:OpenStax
Publisher:OpenStax
Chapter15: Partnership Accounting
Section: Chapter Questions
Problem 14MC: Thandie and Marco are partners with capital balances of $60,000. They share profits and losses at...
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On February 1, 2022, AA and BB formed a partnership and agreed to share profits in the ratio of 46

respectively AA contributed a laptop which cost him P68,000 and was estimated to have a value of P50.000

on date of formation. BB contributed cash of P250,000.

 

How tmuch is the capital account of BB upon formation of the partnership?

 

 

 

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