Partners Do, Re and Mi formed a partnership. The following are their respective contributions and assumed liabilities: Do Re Mi Cash - P50,000 Cash - P100,000 Cash -P200,000 Notes Payable - Equipment- P50,000 P25,000 Accounts Payable - P20,000 After the formation, how much is the total capital of the partnership?

Partners Do, Re and Mi formed a partnership. The following are their respective contributions and assumed liabilities: Do Re Mi Cash - P50,000 Cash - P100,000 Cash -P200,000 Notes Payable - Equipment- P50,000 P25,000 Accounts Payable - P20,000 After the formation, how much is the total capital of the partnership?

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 47P

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