13. On January 2, 2016, Abel, Cain, and Josuah formed a partnership. Abel contributed cash of P100,000 and a delivery equipment that originally costs him P 120,000, but with a second hand value of P50,000. Cain contributed P 160,000 in cash. Josuah, whose family sells office equipment, contributed P50,000 in cash and office equipment that cost nis family's dealership P 100,000 but with a regular selling price of P120,000. In 2016, the partnership reported net income of P120,000.On December 31, 2016, what would be the capital balance of the partners? Abel, Cain and Joshuah respectively * O 187,500, 200,000, 212,500 O 190,000, 200,000, 210,000 O 257,500, 200,000, 192,500 O260,000, 200,000, 190,000
13. On January 2, 2016, Abel, Cain, and Josuah formed a partnership. Abel contributed cash of P100,000 and a delivery equipment that originally costs him P 120,000, but with a second hand value of P50,000. Cain contributed P 160,000 in cash. Josuah, whose family sells office equipment, contributed P50,000 in cash and office equipment that cost nis family's dealership P 100,000 but with a regular selling price of P120,000. In 2016, the partnership reported net income of P120,000.On December 31, 2016, what would be the capital balance of the partners? Abel, Cain and Joshuah respectively * O 187,500, 200,000, 212,500 O 190,000, 200,000, 210,000 O 257,500, 200,000, 192,500 O260,000, 200,000, 190,000
Chapter21: Partnerships
Section: Chapter Questions
Problem 36P
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no.13
Transcribed Image Text:13. On January 2, 2016, Abel, Cain, and Josuah formed a partnership. Abel
contributed cash of P100,000 and a delivery equipment that originally
costs him P 120,000, but with a second hand value of P50,000. Cain
contributed P 160,000 in cash. Josuah, whose family sells office
equipment, contributed P50,000 in cash and office equipment that cost
his family's dealership P 100,000 but with a regular selling price of
P120,000. In 2016, the partnership reported net income of P120,000.On
December 31, 2016, what would be the capital balance of the partners?
Abel, Cain and Joshuah respectively *
O 187,500, 200,000, 212,500
O 190,000, 200,000, 210,000
O 257,500, 200,000, 192,500
O 260,000, 200,000, 190,000
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