The A Company whose ending capital is P89,000 will be joined by Mr. B to form a partnership. Mr. B is to invest sufficient cash to have 30% interest in capital and in interest after following the following adjustment of the accounts of The A Company: Merchandise inventory will be increased by P3,500, supplies amounting to P2,500 is fully consumed and the Equipment purchased for P61,000 which has a book value P55,000 should be 90% depreciated. B is to invest?
The A Company whose ending capital is P89,000 will be joined by Mr. B to form a partnership. Mr. B is to invest sufficient cash to have 30% interest in capital and in interest after following the following adjustment of the accounts of The A Company: Merchandise inventory will be increased by P3,500, supplies amounting to P2,500 is fully consumed and the Equipment purchased for P61,000 which has a book value P55,000 should be 90% depreciated. B is to invest?
SWFT Essntl Tax Individ/Bus Entities 2020
23rd Edition
ISBN:9780357391266
Author:Nellen
Publisher:Nellen
Chapter14: Partnerships And Limited Liability Entities
Section: Chapter Questions
Problem 2BD
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The A Company whose ending capital is P89,000 will be joined by Mr. B to form a partnership . Mr. B is to invest sufficient cash to have 30% interest in capital and in interest after following the following adjustment of the accounts of The A Company: Merchandise inventory will be increased by P3,500, supplies amounting to P2,500 is fully consumed and the Equipment purchased for P61,000 which has a book value P55,000 should be 90% depreciated. B is to invest?
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