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How much cash must be invested by hinkle

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Problem 1: Wiles invests cash of Php20,000 and inventory with a cost of Php20,000 and a current value of Php25,000 in the Wiles and Hinkle Partnership. In addition, Wiles invests land with a cost of Php75,000 and a current market value of Php120,000. The partnership agrees to assume a Php40,000 mortgage on the property. Hinkle invests equipment with a cost of Php100,000 and accumulated depreciation of Php40,000. Hinkle's equipment has a current market value of Php90,000. How much cash must be invested by Hinkle so that the two partners have equal balances in their capital accounts?

a) Php55,000

b) Php75,000

c) Php15,000

d) Php35,000

Reference no: EM132786874

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