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How much should be the capital balance of EE right

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Question - On December 1, 2015, EE and FF formed a partnership, agreeing to share for profits and losses in the ratio of 2:3, respectively. EE invested a parcel of land that cost him P25,000. FF invested P30,000 cash. The land was sold for P50,000 on the same date., three hours after formation of the partnership. How much should be the capital balance of EE right after formation?

Reference no: EM132757686

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