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What is the value of the equipment contributed by Linda

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Question - Vina and Mark are partners with capital balances of P30, 000 and P70, 000 respectively. Vina has a 30% interest in profits and losses. At this time, the partnership has decided to admit Rose and Linda as new partners. Rose contributes cash of P55, 000 for a 20% interest in capital and a 30% interest in profits and losses. Linda contributes cash of P10, 000 and equipment for a 25% interest in capital and 35% interest in profits and losses. If bonus amounting to P18, 250 is given to the old partners, what is the value of the equipment contributed by Linda?

Reference no: EM132773810

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