17. Roy, Sam and Tim decided to engage in a real estate venture as a partnership....
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17. Roy, Sam and Tim decided to engage in a real estate venture as a partnership. Roy invested P140,000 cash and Sam provided an office and furnishings valued at P220,000. (There is a 60,000 note payable remaining on the furnishings to be assumed by the partnership). Although Tim has no tangible assets to invest, both Roy and Sam believe that Tim's expert salesmanship provides an adequate investment. The partners agree to receive an equal capital interest in the partnership. Using the bonus method, what is the capital balance of Tim? 17. Roy, Sam and Tim decided to engage in a real estate venture as a partnership. Roy invested P140,000 cash and Sam provided an office and furnishings valued at P220,000. (There is a 60,000 note payable remaining on the furnishings to be assumed by the partnership). Although Tim has no tangible assets to invest, both Roy and Sam believe that Tim's expert salesmanship provides an adequate investment. The partners agree to receive an equal capital interest in the partnership. Using the bonus method, what is the capital balance of Tim?
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Balana Slheot P60000 Cash P1400009fice e P IG0000 Notas ... View the full answer
Related Book For
Real Estate Finance and Investments
ISBN: 978-0073377339
14th edition
Authors: William Brueggeman, Jeffrey Fisher
Posted Date:
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