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What the average capital balance at the end for jr

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Problem - JR and his very close friend AJ formed a partnership on January 1, 2021 with JR contributing P16,000 cash and AJ contributing equipment with a book value of P6,400 and a fair value of P4,800 and inventory items with a book value of P2,400 and fair value of P3,200. During 2021, JR made additional investment of P1,600 on April 1 and P1,600 on June 1, and on September 1, he withdrew P4,000. AJ had no additional investments nor withdrawals during the year. What the average capital balance at the end of 2021 for JR?

Reference no: EM132886317

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