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What cong should make an additional investment of

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Cong and Dong have just formed a partnership. Cong contributed cash of P126,000 and computer equipment that cost P54,000. The computer had been used in his sole proprietorship and had been depreciated to P24,000. The fair value of the equipment is P36,000. Cong also contributed a note payable of PI2,000 to be assumed by the partnership. Cong is to have 60% interest in the partnership. Dong contributed only P90,000 cash.

Question 1: Cong should make an additional investment (withdrawal) of:

a. P96,000

b. (P 7 6,800)

c. 84,000

d. (P15,000)

Reference no: EM132814089

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